Following a turbulent few years, long-time motorsport wheel manufacturer, BBS, based in Schiltach, Germany, was forced to file for insolvency in 2020.
Subsequently, KW Automotive Group decided to carry out an investor search process and devised a plan to secure the BBS brand. Subject to the signing of purchase agreements and other related paperwork, the takeover is planned for June 2021.
KW automotive founder and managing director Klaus Wohlfarth (above) commented, “I am very honored that we were able to win the trust of the parties involved in the proceedings with our acquisition concept. By reaching an important milestone, I was able to inform all BBS employees about our plans on March 4, 2021. Until full responsibilities are assumed in June, there are still important agreements to be negotiated, which are the responsibility of the insolvency administrator.
“We will build on the successes of the past. With a calculated expansion of the iconic BBS designs, and with further investments in sales and digitalization thanks to our worldwide network of specialist dealers, we will certainly and very quickly achieve visible success.
“KW Automotive Group is committed to Germany as a business location, and its future concept ‘BBS 2024’ will deliver major investments in new manufacturing processes and flexible and competitive structures. Now BBS can fully face the challenges and opportunities of the future again and pay tribute to its roots,” he concluded.
BBS of America, which has multiple facilities in the USA, will also be fully owned by KW Automotive North America.