Brose Sitech acquires majority stake in Spanish cover supplier Covercar

• Brose Sitech expands its product portfolio to include seat covers and strengthens its presence as a seating system supplier through vertical integration.
• The strategic direction and steering will be carried out jointly with the previous owner family of Covercar under the chairmanship of Brose Sitech. Operational management will remain with the current CEO and son of the company founder.
• Both partners plan to expand their business with complete seat programs and seat cover projects.

Polkowice/Barcelona. Brose Sitech has acquired 51% of the shares in the Spanish seat cover specialist Covercar, headquartered in Sallent/ Barcelona, Spain. The Covercar Group employs over 1,000 people at five locations in Spain, Portugal and Morocco. The aim is to jointly expand business with OEMs in the area of complete seats and seat covers.

The family business was founded in 1993 by Herminio García Baragaña to supply seat covers for Seat. Covercar produces at three production sites in Morocco to supply customers on the Iberian Peninsula. Among other things, Covercar supplies the covers for the VW T-Roc at the production site in Palmela, Portugal.

"We are delighted to have gained an established and competent partner in Covercar. The vertical integration will strengthen our presence as a seat system supplier," emphasizes Thomas Spangler, CEO Brose Sitech Group.

By acquiring this stake, Brose Sitech is expanding its product portfolio to include seat covers and gaining capacities and expertise in development and production in this area. As a result, seat covers can be offered as an integrated part of Brose Sitech's complete seat programs or carried out by Covercar as independent cover projects for the customer. Covercar will continue to act as an independent supplier and will at the same time benefit from the Brose Sitech sales channels for the planned expansion of the business.

Alejandro García, CEO Covercar Group and son of the company founder, says: "Covercar as a seat cover supplier is known for its quality and reliability. Together with Brose Sitech, we want to exploit further opportunities in the market."

Alejandro García will continue to be responsible for the operational management of the company. On the Board of Directors, Florian Müller, CFO Brose Sitech Group, and Daniel Geist, VP Program Management Brose Sitech Group, will be responsible for the strategic direction and steering together with the Garcia family.