Grupo Antolin, one of the largest manufacturers of vehicle interiors in the world, has entered into a strategic partnership with Walter Pack to develop the decorative parts business for automotive interiors. As part of this partnership, Grupo Antolin has acquired a 40% stake in the Spanish company that specialises in the design and production of high-quality decorative technical surfaces and parts. Igor Gorostiaga, partner at NORGESTION, has advised the selling company on corporate finance.
Walter Pack is based in Igorre (Basque Country). It has more than 25 years of industrial experience and a broad and innovative portfolio of products, processes and technologies. The company supplies components to the main automobile manufacturers, as well as Tier-1 suppliers of the automotive industry. Walter Pack also provides components for the electronics industry, domestic applications and other sectors.
Grupo Antolin and Walter Pack will combine their extensive knowledge and industrial experience to take advantage of the business potential of decorative parts for the automotive interiors. The companies will work on integrating Walter Pack’s decorative parts into the components of Grupo Antolin that will be offered with new interior lighting solutions. The aim is to develop integrated products with state of the art technology. The two companies have already worked on the development of several projects with car manufacturers.
This partnership will provide significant benefits to Grupo Antolin and Walter Pack customers, given the experience and professionalism that both groups are known for.
“The partnership with Walter Pack will strengthen our product offer and consolidate Grupo Antolin's position as a global provider of automotive interiors. We want to help clients to develop more comfortable and more technologically advanced interiors”, notes Ernesto Antolin, Chairman of Grupo Antolin.
“With this partnership, Grupo Antolin, one of the most prestigious interior manufacturers in the world, has acquired a stake in Walter Pack and will serve to reinforce our business project”, underlines Miguel Bernar, Chief Executive Officer of Walter Pack Group.
Walter Pack has plants in the Basque Country, Barcelona and Alicante (Spain) and an international presence with two factories in India and a factory in Mexico. The company employs more than 350 people with sales of over €37 million. Grupo Antolin will help Walter Pack grow and strengthen its international presence.
Grupo Antolin and Walter Pack will collaborate in R&D activities, a key pillar in the future strategy of both companies, and in the search for technological innovations that add value to the interior parts of the vehicle.