Endurance Technologies Limited — JV/Acquisition, 12-12-2024: Acquisition

Endurance Overseas Srl, a subsidiary of Endurance Technologies Limited, is acquiring a 60% stake in Stoferle Automotive GmbH and Stoferle GmbH for €37.74 million. This acquisition, subject to regulatory approvals, aims to strengthen Endurance's position in the automotive sector by diversifying its customer portfolio and leveraging Stoferle's expertise in machined aluminium castings. The target companies posted a combined revenue of €89.3 million for 2023. There are options to purchase the remaining 40% stake over five years, enhancing strategic control in the automotive supply chain.