Admetos Acquires Mahle’s Thermostat Business 

Admetos Acquires Mahle’s Thermostat Business 

Tricon Law advised Bavarian investment firm Admetos on its acquisition of Mahle’s thermostat business. Baker Tilly also advised Admetos, while Mahle was advised by Jones Day. 

Mahle’s primary business is in selling components for combustion engines in vehicles, with more than €12 billion in revenue recorded in 2022. Its thermostat division in particular boasts 600 employees across six countries, all of whom will continue in their roles under the newly merged company. 

Admetos is an owner-managed industrial and investment holding company specialising in carve-outs for medium-sized companies. The firm has revealed plans to further expand Mahle’s thermostat business post-acquisition. The transaction, which remains subject to regulatory approval, is expected to include in early 2024.  

 Tricon advised Admetos with a team led by partner Hartmut Wollstadt.