Pinsent Masons advises on the acquisition of Covercar
Pinsent Masons has advised Brose Sitech on the acquisition of a majority stake in Spanish company Covercar, a family-owned car seat manufacturer based in Barcelona and also with factories in Morocco and Portugal.
Covercar was founded as a family business in 1993 by Herminio García Baragaña. It employs more than 1,000 people at five sites in Spain, Portugal and Morocco. The catalan company will join Brose Group which reported sales of EUR 7.9 billion in 2023.
With the acquisition of this stake, Brose Sitech expands its product portfolio to seat covers and gains a wide range of development opportunities in this field. Seat covers can be offered as an integral part of Brose Sitech’s complete car seat systems.
Alejandro Garcia, CEO of the Covercar Group and son of the company’s founder, says: “Covercar, as a supplier of seat covers, is known for its quality and reliability. Together with Brose Sitech, we want to exploit new opportunities in the market”. Garcia will continue to be responsible for the company’s operations management.
The team led by Francisco Aldavero has included Alejandro Mas Deudero. Our partner Florian Von Baum in Germany has also collaborated.
