Leeds auto parts firm partners with OSRAM following successful acquisition

OSRAM and Leeds-based Ring Automotive have officially partnered following approval from the British Competitors and Market Authority (CMA).

The acquisition of British aftermarket specialist Ring Automotive will allow Osram to expand its product range in the automotive sector, particularly to include more automotive electronics and accessories.

Hans-Joachim Schwabe, CEO of OSRAM, said: “In addition to expanding our aftermarket portfolio, the acquisition of Ring will enable us to tap into additional sales potential and further expand our market expertise.

“The aim is to use the additional market and customer access and create synergies in the product portfolio and distribution channel.”

With the acquisition of Ring Automotive, OSRAM is reportedly strengthening its aftermarket business and offering customers access to a broader, complementary product range.

Both companies are said to see the agreement as an opportunity for a successful European cooperation.

Ring’s product portfolio includes classic automotive lighting and more. The company is particularly successful in the field of electronic car accessories. Around 3,000 products are available from over 3,000 specialist dealers in more than 60 countries.

With 160 employees, the British company achieved an annual turnover of £46.1m in 2018.

The affiliation with OSRAM secures further investment for Ring, supporting future growth plans and product innovation in order to continue to grow, especially in the aftermarket segment.

Together with Ring Automotive, OSRAM can expand the retail market beyond its existing portfolio of classic automotive lighting to achieve growth.

George Skalski, managing director of Ring Automotive, concluded: “Being part of the OSRAM family offers us incredible opportunities for further global expansion.

“The synergies are enormous and will help us to continue our innovation leadership together. In the future, our customers will benefit from the many years of experience of both companies.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.