Meili Technology (300611.SZ) plans to acquire ACPS Group, a world-renowned manufacturer of car trailer hooks and related systems, in cash

According to the Zhitong Finance App, Meili Technology (300611.SZ) disclosed a major asset purchase plan. The company plans to acquire 100.00% of Hitched Holdings 3 B.V. (“HH3”) shares in cash from Hitched Holdings 2B.V. through Meili Holding GmbH, a wholly owned German subsidiary. HH3 owns and controls ACPS Group's main business operating entities through its domestic and foreign subsidiaries. The transaction is expected to constitute a major asset restructuring.

According to the announcement, ACPS Group is headquartered in Germany and has been deeply involved in the R&D, production and sales of high-end trailer hooks for nearly 70 years. It is a world-renowned manufacturer of car trailer hooks and related systems, and has become the “invisible champion” in the global automobile traction system industry. ACPS Group is deeply tied to well-known automobile brands such as Volkswagen, Mercedes-Benz, BMW, and Tesla, and has been cooperating for more than 20 years. It has the leading share of the European and North American trailer hook markets, and in particular, it ranks first in the world in the field of trailer hook support for high-end models in the world.

According to reports, as the global SUV market share continues to rise, leading to a steady increase in demand for trailer hooks, the relaxation of domestic trailer policies and the self-driving tour boom will also spawn new market growth. Through this acquisition, the company can quickly seize the growth in the domestic and foreign trailer hook market, relying on ACPS Group's technical advantages and brand influence. In addition, the company can directly undertake ACPS Group's stable customer resources, drastically shorten the overseas market expansion cycle and costs, and help the company build a global business pattern of “mature European and American markets+emerging Chinese markets”.