Carcoustics to be acquired by the Dare Group

Leverkusen (ots) -

- Dare Group acquires Carcoustics from AlpInvest Partners.

- Dare Group is a long term strategic investor. With the existing
executive board Dare Group is seeking to support Carcoustics'
expansion particularly in China but also worldwide.

- Dr. Peter Schwibinger, CEO of Carcoustics: "We are pleased that
the sale process has been concluded successfully and that we
have again a competent partner with whom we can pursue the
growth of Carcoustics as a top tier supplier to the global
automotive sector as well as to the industrial solution and
commercial vehicle sector."

- Mr. Li Yi, Chairman of the Dare Group: "Dare Group is committed
to work with the incumbent management to speed up Carcoustics'
growth in China by leveraging Dare's industry resources with
OEMs in China. In addition, Dare is prepared to support
Carcoustics to continuously enhance its capability to expand
worldwide."

Liaoning Dare Industrial Company LTD. ("Dare Group") acquires the
medium-sized supplier Carcoustics which is based in Leverkusen and
manufactures acoustically and thermally effective products for the
automotive industry and other industrial sectors. The transaction has
been signed. Closing is now subject to customary conditions and
filings with responsible authorities. The closing is expected to take
place in the fourth quarter. Dare Group's business covers industrial
diesel engines, automotive interior parts, high pressure CNC washing
centers, as well as the provision of financial services. Through its
member company Fuxin Dare Automotive Parts Co., Ltd., a listed
company in Shenzhen Stock Exchange of China, Dare Group supplies the
automotive industry with power steering pumps, AMT oil pumps, gear
pumps, EHPS and DC brushless motors, among others. Key customers
include GM, BAIC Group, Iveco, Nissan as well as SAIC Group. Dare
Group is a long term strategic investor seeking to support
Carcoustics' expansion particularly in China but also worldwide.
Together the companies can benefit from synergistic effects
worldwide.

Together with the executive board CEO Dr. Peter Schwibinger and
CFO Georg Brasch, Dare Group wants to continue the Carcoustics
corporate strategy. "Dare Group is committed to work with the
incumbent management to speed up Carcoustics' growth in China by
leveraging Dare's industry resources with OEMs in China. In addition,
Dare is prepared to support Carcoustics to continuously enhance its
capability to expand worldwide." said Mr. Li Yi, Chairman of Dare
Group. "We are pleased that the sale process has been concluded
successfully and that we have again a competent partner with whom we
can pursue the growth of Carcoustics as a top tier supplier to the
global automotive sector as well as to the industrial solution and
commercial vehicle sector." said CEO Dr. Peter Schwibinger. Mr.
Harald Graf, chairman of the advisory board, adds: "With this
transaction, the continuation of the success of Carcoustics has been
solidified. We would like to thank AlpInvest Partners for the support
during many years and wish Dare and the management of the company all
the best with the further development of Carcoustics."

Carcoustics is expanding its innovative business all over the
world. Customers include nearly all automotive and truck
manufacturers as well as manufacturers of domestic appliance,
agricultural machinery as well as heating and air-conditioning
systems. The annual sales in 2015 amounted to approximately 280
million euro. With approximately 1.800 employees, 10 production
plants in 8 countries and innovative product solutions Carcoustics is
well positioned for the rapidly changing challenges in the served
sectors.

You will find the press release and further information for
download at: https://www.carcoustics.com/press/news/

Contact for journalists' questions:
Carcoustics Shared Services GmbH
Head of Corporate Communications
Nina Khanaman
Tel.: +49.(0)2171.900 - 450
E-Mail: nkhanaman@carcoustics.com
www.carcoustics.com