CrossLink on the sale of its Thermal Solutions Business to Oerlikon advises by Proventis Partners

Munich, 3 December 2020 – Proventis Partners has advised CrossLink GmbH (“CrossLink”) on the sale of its lithium-ion battery (LIB) Thermal Solutions Business for electric vehicles (EVs) to Oerlikon Friction Systems (Germany) GmbH (“Oerlikon”). As part of the Group, the business unit will further deepen existing customer relationships and contribute with its solutions to increasing the passenger safety of electric vehicles.

The Transaction

CrossLink, a leading manufacturer of composite components, launched a new business unit in 2018 for the development of composite-based thermal solutions in lithium-ion batteries for electric vehicles. In a very short time, projects were won and solutions for temperature control and protection of battery systems were developed to series production readiness. In order to be able to leverage the series production potential, a strategic investor with experience in large-scale production for the automotive industry was sought. In Oerlikon, the ideal partner was found: in addition to its in-depth automotive and industrialization know-how, Oerlikon contributes existing close and long-standing business relationships with relevant customers.

The role of Proventis Partners

Proventis Partners advised CrossLink during the entire M&A process. The services included the preparation of marketing materials, the approach of potential investors including management presentations as well as the support during due diligence and negotiation of the transaction.

About CrossLink

CrossLink is a leading manufacturer of composite components with a focus on the medical technology, mechanical engineering, automotive and anti-ballistics sectors. The range of services extends from prototypes to small and medium series. The company stands out from the competition with its very high precision and reliability.

About Oerlikon

Oerlikon Friction Systems is a subsidiary of OC Oerlikon Corporation AG and an international developer and manufacturer of innovative transmission synchronizers, high-performance carbon friction linings and transmission components.

About Proventis Partners

Proventis Partners is a partner-led M&A advisory firm whose clients are mainly medium-sized family-owned companies, group subsidiaries and private equity funds. With 30 M&A advisors, Proventis Partners is active in the sectors Industrials (in particular Advanced Materials), Business Services, Consumer & Retail, TMT, Healthcare as well as Energy and covers the German-speaking region with offices in Zurich, Hamburg, Cologne and Munich. The exclusive membership in Mergers Alliance – the international partnership of leading M&A specialists – allows Proventis Partners to cover the market in 30 of the world’s leading countries. The 20 members of Mergers Alliance, with over 200 M&A professionals, provide Proventis Partners and thus its clients with unique access to local markets in Europe, North America, Latin America, Asia and Africa. Additional information about Proventis Partners can be found at www.proventis.com