Prevent Group, based in Germany, has sold its subsidiary, Prevent Glass, to ICI International Corporate Investments for an undisclosed consideration.
Prevent Glass manufactures sidelites and backlites for vehicles. The company's main customer is the Volkswagen Group (with nearly all its brands) followed by Volvo and others (via Tier 1 suppliers).
ICI International Corporate Investments is a privately held investment company headquartered in Germany.
Prevent Group was founded in 1952 as the municipal saddlery of Slovenj Gradic (Slovenia). The group has diversified its product portfolio, which today encompasses seat covers as well as steel frames for the automotive industry. Prevent Group decided to sell its glass manufacturer subsidiary, since it was not considered a core business, to an investor who would be able to increase its potential.
Oaklins' team in Germany advised the seller throughout the sale process.
Dr. Hans Bethge
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