BGF – the UK’s most active growth capital investor – has announced a further £4 million investment in Midlands headquartered automotive components manufacturer, Sertec Group as the business looks ahead to European growth. 

Since BGF’s initial investment in 2016, the business has expanded its customer base, invested in new technologies and established a strong European footprint through acquisitions and new hires.

This year, Sertec has secured significant new contract wins in the electric vehicle (EV) and lightweight technology markets using it’s engineering expertise and innovative technology know how. The company has recently completed a world-class battery component assembly line in Coleshill.

Grant Adams, CEO at Sertec said: “We’re ambitious about continuing to grow the company and BGF’s additional investment allows us to build on the strong foundations we’ve put in place. We start 2021 with a strong balance sheet and exciting growth prospects in Europe underpinned by our recent hires. Juergen Schreiner joins as European Sales Director and Antal Mihalicz has been appointed Managing Director in Sertec’s Hungarian operation.

“Our technology positions us at the forefront of the sector to take advantage of the huge potential presented by the growing EV market in the UK and Europe.”

This investment news follows the appointment of Nick Sanders as Non-Executive Chair in May 2020.  BGF investor Tom Horton said  “BGF’s renewed commitment to Sertec is testament to the strength of the business’ leadership and ongoing investment in new technologies. In a very challenging year, the company has continued to secure significant, long-term contracts as it expands its customer base. We look forward to working with the team in its next chapter of growth.”

Sertec Group Ltd operates across eight sites, with six manufacturing sites in the Midlands in the UK, one manufacturing site in Aszar, Hungary and one in Hückeswagen, Germany, plus a tooling technical centre based in Dongguan, China.

DLA Piper advised the Company and Shoosmiths acted for BGF.

Sertec, the Global automotive component supplier, has appointed a new Managing Director for its Hungary operation, as the company gears up to expand into European electric vehicle (EV) and lightweight technology markets.

Antal Mihalicz joins as Managing Director in Sertec’s Hungarian territory and brings with him a wealth of senior experience within the sector. He has over 30 years of automotive manufacturing experience including Operations Director at Novares, Managing Director of Hella Manufacturing in Hungary and Managing Director of Schefenacker Automotive Parts, which counted Audi, BMW, Ford, and Toyota amongst its client base.

Antal’s appointment is part of a long-term, strategic plan for Sertec in the region, with the company preparing for significant growth, accelerated by opportunities offered by EV and lightweight technology.

Antal, said: “I feel privileged to join the Sertec board and have the opportunity to play my part in growing the company’s share of the European market.

“I am looking forward to working with fellow Board members to implement our long-term plan for the region, showcasing Sertec’s innovation and point of difference and maximising the opportunities available to us within the EV and lightweight technology sector.

“There are huge opportunities for expansion and I look forward to working with the Sertec board and the wider team to deliver our business vision for the region.”

Grant Adams, CEO at Sertec, said: “Antal’s appointment is a significant addition to our Board, bringing with him new experience and skills that will help complement our existing team.

“He will play an integral part in establishing and growing our European footprint, as we seek to capitalise on the huge opportunities afforded by what we see as a ‘new industrial revolution in our sector. There is huge investment in the region for EV technology, including large manufacturers such as Audi, and we aim to be at the forefront of this new wave of innovation and development.

“We welcome Antal and look forward to working with him to achieve our vision for the business in the Hungarian territory and the wider EV and lightweight technology market.”

Sertec Group Ltd operates across eight sites, with six manufacturing sites in the Midlands in the UK, one manufacturing site in Aszar, Hungary and one in Hückeswagen, Germany, plus a tooling technical centre based in Dongguan, China.