Würth Group acquires remaining shares in Liqui Moly from Ernst Prost
The Würth Group announced that it has acquired all the remaining shares held in Liqui Moly GmbH by Managing Partner Ernst Prost effective January 1, 2018. The transaction is subject to approval by regulatory authorities.
With this transaction, the Würth Group will become the sole owner of Liqui Moly GmbH based in Ulm, Germany, which manufactures high-quality lubricants, engine oils, additives and other vehicle care products and has sales presence globally.
The Würth Group will continue operating Liqui Moly as an autonomous company with an independent brand within the Würth Group. In fiscal year 2016, Liqui Moly generated sales of approximately EUR 500 million (USD 593 million) with more than 800 employees.
“Over the past few years, Liqui Moly has shown an outstanding performance and developed into a real success story. The company owes this achievement mostly to the work of managing partner Ernst Prost and his employees,” said Peter Zürn, deputy chairman of the Central Managing Board of the Würth Group. “We are proud that this successful and established brand, which is known for its outstanding reputation and great dynamics, will enrich the portfolio of the Würth Group. Our objective is the sustained successful development of Liqui Moly in the future. This is why we will continue to put our faith in the entrepreneurial expertise of Ernst Prost, just as we have done in the past 20 years as a silent partner at Liqui Moly,” Zürn said.
To ensure continuity in the long term, Prost will remain managing director of Liqui Moly even after the sale of his shares. In addition, the long-standing head of sales at Liqui Moly, Günter Hiermaier, will be appointed second managing director effective March 1, 2018. Together, Hiermaier and Prost will form the management team of Liqui Moly.
The Würth Group is a global market leader in its core business, with more than 125,000 products from screws, screw accessories and anchors to tools, chemical-technical products and personal protection equipment. The Allied Companies of the Würth Group, which either operate in business areas adjacent to its core business or in diversified business areas, round off the range by offering products for DIY stores, material for electrical installations, electronic components (e.g. circuit boards) as well as financial services.
Würth, based in Künzelsau, Germany, is a family business that was founded by Adolf Würth in 1945. The company has been a silent partner of Liqui Moly for the last 20 years.
It currently consists of more than 400 companies in more than 80 countries and has more than 73,000 employees. The Würth Group generated total sales of EUR 6.4 billion (USD 7.6 billion) in the first half of the business year 2017.
