The sale of HGK-International to Recaro – the birth of HGK-Global

Johnson Controls, a global leader in automotive seating, interiors and electronics, completed the previously announced acquisition of Keiper and Recaro Automotive. Recaro Automotive Seating will benefit in a number of ways from the integration into the global enterprise, such as by gaining access to the purchasing and manufacturing network of a global leader in automotive interiors. The explicit aim of the newly established business unit is to become a global market leader for complete premium vehicle seats.

Prior to this new strategic positioning of the Recaro Group HGK-International was sold to the Recaro in 2011.

HGK Global was founded in 2009 and acted first as a Holding Company for Mercer and Acquisition. HGK Global owned a third part of the new founded Software Company PVM Solution GmbH.

Recaro, the southern German manufacturer of brand-name seats, has collaborated with Dennso Management Consulting and the HGK Global to form the company PVM Solutions GmbH with its headquarters in Hamburg. PVM - Product Value Management is software which allows the company to launch products on the market more quickly and inexpensively.

Horst Kespohl and Michael Zipser, a partner of Dennso Management Consulting, will initially be the executive officers of the company in the formation phase. Tobias Müller, Director of Product Value Management at Recaro and also co-creator of PVM will provide support to PVM Solutions. His transfer to the successful development of PVM Solutions is a possibility that is being considered. Müller and Zipser are jointly responsible for the operating areas of sales, development, marketing, human resources, etc.

End of 2010 Dennso Management took over all of the PVM Solution Company shares. HGK Global took over all assets of the HGK-International, which wasn’t sold to Recaro.

January 2011