Possible Sale of CIMOS d.d.

Possible Sale of CIMOS d.d.

The Italian financial fund Palladio Holding Group is planning to sell Cimos (unofficially reported). Cimos is one of the names closely related to the strong automotive industry as the group and its subsidiaries supply turbo, powertrain and kinematics solutions to the main automotive producers like Ford, Volvo, PSA, BMW, Audi and VW, and their suppliers Honeywell, Bosch Mahle Turbo Systems, BorgWarner Turbo Systems and TRW.

In 2017, Cimos was acquired by Palladio Holding Group for a symbolic value of EUR 100,000 – they took over EUR 110 million in debt and recapitalized the company with more than EUR 18 million. With the new owners, the loss-making business turned into a positive one. After a loss of more than EUR 34 million in 2017, Cimos made a profit of EUR 6.3 million last year and was able to raise EUR 330 million in new deals. 2019 has been a slower year for CIMOS and the company will reportedly have a loss of EUR 2 million.

The Italian financial fund Palladio Holding Group is planning to sell Cimos (unofficially reported). Cimos is one of the names closely related to the strong automotive industry as the group and its subsidiaries supply turbo, powertrain and kinematics solutions to the main automotive producers like Ford, Volvo, PSA, BMW, Audi and VW, and their suppliers Honeywell, Bosch Mahle Turbo Systems, BorgWarner Turbo Systems and TRW.

In 2017, Cimos was acquired by Palladio Holding Group for a symbolic value of EUR 100,000 – they took over EUR 110 million in debt and recapitalized the company with more than EUR 18 million. With the new owners, the loss-making business turned into a positive one. After a loss of more than EUR 34 million in 2017, Cimos made a profit of EUR 6.3 million last year and was able to raise EUR 330 million in new deals. 2019 has been a slower year for CIMOS and the company will reportedly have a loss of EUR 2 million.