March 2021 The traditional wheel manufacturer BBS had to file for insolvency at its Schiltach headquarters in Germany 2020. KW automotive participated in the following investor search process and was successful in convincing all parties involved in the negotiations with a pioneering acquisition concept to secure the traditional BBS brand. As a result, purchase agreements and further agreements were signed, which should enable an acquisition in June 2021. „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,“ Klaus Wohlfarth said in a statement. The iconic brand BBS has a history of more than 50 years and is world-famous for its numerous successes in motorsports, and the wheel designs derived from those efforts. Even today, BBS is one of the most innovative wheel brands in the world. For example, Formula 1 will rely exclusively on the BBS brand when switching to the future 18“ tire generation, as will the American NASCAR series, which will also be equipped exclusively with BBS Motorsport wheels beginning in 2022. Reliability and quality are other values associated with the BBS brand, which is appreciated both in motorsports and by enthusiasts world-wide. "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,“ said Klaus Wohlfarth. "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 a bit,“ said Klaus Wohlfarth. The former subsidiary BBS of America will be fully owned by KW automotive North America, Inc. with headquarters in Clovis, California, and Braselton, Georgia. Press Release Type: Announcement Company: KW automotive North America, Inc. Booth #: 23253 Show Categories: Racing & Performance Wheels & Accessories Media Contact Name: Maria Guevara Media Contact Email: maria.guevara@kwautomotive.com Media Contact Phone: 5598750222 Photo Gallery: 102821