Kiekert AG
 | |
| ISIN | 🆔 |
|---|---|
| Predecessor |
|
| Founded 📆 | 1857 in Heiligenhaus, Germany |
| Founder 👔 | Arnold Kiekert |
| Headquarters 🏙️ | , Heiligenhaus , Germany |
Number of locations | 11 (2023) |
Area served 🗺️ | Worldwide |
| €800 million (2023) | |
| Members | |
Number of employees | approx. 5300 (2023) |
| Parent | Lingyun Holding |
| 🌐 Website | kiekert |
| 📇 Address | |
| 📞 telephone | |
Kiekert AG is an internationally active automotive supplier headquartered in Heiligenhaus, North Rhine-Westphalia, Germany, with additional locations in America and Asia. The company was established around 160 years ago by Arnold Kiekert and has been owned by a group of Chinese automotive suppliers since 2012.[1][2]
Initially, the family-owned Kiekert business produced locks for furniture, later specializing in digital automotive locking systems.[3] Today, Kiekert is a market leader in this sector, with its products and technologies being utilized in one out of every three cars worldwide.[4]
History[edit]
1857–1945[edit]
In 1857, Arnold Kiekert founded a lock and fittings factory in Heiligenhaus near Düsseldorf.[5] Initially located at Am Kämpchen in the district of Isenbügel, the company manufactured locks for high-quality furniture. After the founder died in 1886, his sons continued the business, relocating the production to a new site in 1888.
During the Nazi era from 1933 to 1945, many companies were mandated to develop and produce military technology, including the Kiekert lock and fittings factory. Following World War II, operations were rebuilt and expanded.
1968–1988[edit]
In 1968, the Funke[6] entrepreneurial family acquired a stake in the company. From 1971, they held the majority, at times together with the Otto entrepreneurial family. In 1976, Tack & Gabel from Wuppertal, a reputable manufacturer of automotive locks, also joined the group but remained a legally independent entity.
During the 1980s, Funke divested its stakes outside the media sector. In 1988, 75% of the shares in Kiekert and Tack & Gabel were sold to Werner Sterzenbach, the CEO of both companies for several years.[7] Kiekert and Tack & Gabel were then consolidated organizationally, legally, and in external representation.
1994–1998[edit]
In the 1990s, Kiekert focused on door locks and locking systems for the automotive industry, divesting other business areas. In 1994, Sterzenbach consolidated various business units into a joint-stock company,[8] which went public in June 1995.[9] The initial listing of Kiekert AG had a volume of around 180 million DM.[10]
In 1998, Kiekert made headlines when the Ford plants in Cologne had to halt production temporarily.[11] Kiekert ceased to deliver door locks due to a lightning strike causing critical IT system failures.[12] Kiekert declined Ford's support to mitigate the damage, leading to Ford filing recourse claims against Kiekert.[13]
2000–2006[edit]
In 2000, funds of the British private equity firm Schroder Ventures Europe (now Permira) acquired the company.[14] The remaining shareholders were compensated,[15] and Kiekert underwent restructuring to stay competitive in the global automotive supplier market.[16] Nonetheless, financial difficulties arose during the mid-2000s.[17]
In 2006, Permira transferred the company to Bluebay Asset Management and Silver Point Capital hedge funds, with the participation of Morgan Stanley and Deutsche Bank.[18] The transaction provided Kiekert with substantial additional equity.
In 2007, the company moved to its current headquarters at "Hoeseler Platz".
2012–2020[edit]
In 2012, Chinese automotive supplier Hebei Lingyun Industrial (now North Lingyun Industrial) acquired the company.[19] The acquisition nearly doubled the group's revenue and exemplified China's expansion into the automotive sector. The transaction also involved other Chinese industrial firms. Kiekert continued as a joint-stock company, operating independently of its parent company.
In 2020, the EU Commission imposed a cartel fine on Brose and Kiekert.[20] Both companies, with Magna's involvement, had engaged in illegal price-fixing between 2009 and 2012. Magna reported the arrangements and thus emerged unscathed from the proceedings.
Corporate affairs[edit]
Ownership[edit]
Kiekert operates as a non-listed joint-stock company (AG) under German law and is a subsidiary of Lingyun Holding (GmbH), a financial holding company with no operational business activity.[21] Hence, Kiekert is a legally independent and operationally autonomous sub-group under the umbrella of Lingyun Holding.
Management[edit]
The management of Kiekert AG comprises the Executive Board (Vorstand) and the Supervisory Board (Aufsichtsrat). Jérôme Debreu serves as the Chairman of the Executive Board and Chief Executive Officer of the company.[22] Chloe Lee is a member of the Executive Board and Chief Financial Officer of the company. Kaiquan Luo holds the position of Chairman of the Supervisory Board, with his deputy being Uwe Höhndorf, Chairman of the Works Council of Kiekert AG.
Locations[edit]
The company's headquarters are located in Germany. Additionally, as of August 2023, Kiekert is present at ten locations across Europe, America, and Asia:
Products[edit]
Vehicle locks[edit]
In 1974, the company developed the first central locking system, enabling the simultaneous locking and unlocking of all side doors of vehicles. This innovation established Kiekert as the globally leading supplier of intelligent locking systems for the automotive industry. The company's technologies are globally present in one-third of all vehicles as of 2023.
Locking systems[edit]
Since at least 2017, Kiekert has been focusing on electronic locks,[23] charging ports,[24] and transforming door and flap handles into digital switches that allow software-supported vehicle access, for instance, via smartphones.[25] Furthermore, Kiekert develops drive systems that open automatically, closing doors and flaps.
Notes and references[edit]
- ↑ Mülders, Stefan (2017-08-03). "Firma Kiekert besteht seit 160 Jahren". Rheinische Post (in Deutsch). p. 28.
- ↑ "Investoren: Hightech aus Deutschland, Geld aus China". Automobilwoche (in Deutsch). 2014-09-17. Retrieved 2023-09-01.
- ↑ Müller, Anja (2014-06-20). "Weltmarktführer aus Heiligenhaus: Kiekert und der Knarziator". Handelsblatt (in Deutsch). Retrieved 2023-09-01.
- ↑ "Blitzeinschlag als Muskelspiel". Westdeutsche Allgemeine Zeitung (in Deutsch). 2017-07-26. Retrieved 2023-09-01.
- ↑ "Arn. Kiekert Söhne (AKS)" (in Deutsch). Geschichtsverein Heiligenhaus. December 4, 2019. Retrieved 2023-09-01.
- ↑ "Dallas an der Ruhr". Der Spiegel (in Deutsch). 1987-06-14. Retrieved 2023-09-01.
- ↑ "Kiekert – Tack & Gabel: WAZ-Gruppe zieht sich zurück. Das Management hat die Firmen jetzt übernommen". Handelsblatt (in Deutsch). 1988-02-11. p. 17.
- ↑ "Kiekert in Aktiengesellschaft umgewandelt. Börseneinführung für 1995 geplant. Gutes Geschäft mit Autoschließsystemen". Frankfurter Allgemeine Zeitung (in Deutsch). 1994-11-03. p. 22.
- ↑ "Kiekert: Autozulieferer fährt auf das Börsenparkett". Frankfurter Rundschau (in Deutsch). 1995-06-02. p. 12.
- ↑ "Börsenneulinge: An jeder Ecke". Wirtschaftswoche (in Deutsch). 1995-12-14. p. 126.
- ↑ "Bei Ford stehen die Fließbänder still". Der Tagesspiegel (in Deutsch). 1998-06-17. Retrieved 2023-09-01.
- ↑ "Kiekert: Blitz und Donner". Manager Magazin (in Deutsch). 1998-03-01. Retrieved 2023-09-01.
- ↑ "Ford prüft Regreßforderung gegen Kiekert". Die Welt (in Deutsch). 1998-06-26. Retrieved 2023-09-01.
- ↑ "Kiekert geht in neue Hände. Finanzinvestoren übernehmen Mehrheit beim Kfz-Zulieferer". Süddeutsche Zeitung (in Deutsch). 2000-06-08. p. 30.
- ↑ "Squeeze Out beim Automobilzulieferer Kiekert". Börsen-Zeitung (in Deutsch). 2002-03-08. p. 12.
- ↑ Kranz, Michael (2002-09-17). "Schlüssel zur Selbständigkeit – Autozulieferer Kiekert wendet Verkauf ab. Türschloss-Spezialist plant Wachstum und Innovationen". Süddeutsche Zeitung (in Deutsch). p. 40.
- ↑ "Autozulieferer-Branche: Finanzinvestor scheitert bei Kiekert". Handelsblatt (in Deutsch). 2006-10-30. Retrieved 2023-09-01.
- ↑ Lange, Kai (2006-10-30). "Kiekert: Finanzjongleur nimmt den Notausgang". Manager Magazin (in Deutsch). Retrieved 2023-09-01.
- ↑ "Deutscher Automobilzulieferer: Chinesen übernehmen Kiekert". Handelsblatt (in Deutsch). 2012-03-13. Retrieved 2023-09-01.
- ↑ "Kartellvorwürfe: EU verhängt Millionenstrafe gegen Autozulieferer Brose und Kiekert". Handelsblatt (in Deutsch). 2020-09-29. Retrieved 2023-09-01.
- ↑ "Shared Register of Companies Portal for the German Federal States". Retrieved 2023-11-17.
- ↑ "Jérôme Debreu ist neuer Kiekert-Chef". Rheinische Post (in Deutsch). 2021-07-15. Retrieved 2023-09-01.
- ↑ Scheppe, Michael (2017-07-26). "Zulieferer: Kiekert will das Auto-Türschloss neu erfinden". Handelsblatt (in Deutsch). Retrieved 2023-09-01.
- ↑ Bangert, Ulrich (2022-12-13). "Kiekert will das E-Tanken revolutionieren". Westdeutsche Allgemeine Zeitung (in Deutsch). p. 17.
- ↑ Flörecke, Klaus-Dieter (2015-04-24). "Kiekert: Mehr Gestaltungsfreiheit dank E-Schloss". Automobilwoche (in Deutsch). Retrieved 2023-09-01.
External links[edit]
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