Snoeks acquires Veth Automotive
Snoeks Automotive, European market leader in interior concepts for light commercial vehicles, has made a key strategic move by acquiring Veth Automotive.
Snoeks Automotive has been a Bolster Investment Partners portfolio company since December 2022 and develops innovative interior concepts for light commercial vehicles. With the addition of Veth Automotive, Snoeks will increase its product portfolio and market reach significantly.
Veth has branches in Duiven (the Netherlands) and Genk (Belgium), where commercial vehicles and passenger cars, among others, are fully fitted out in a serial process for clients such as Rijkswaterstaat, the police and lease companies. Veth Automotive Services, the central service center for Veth’s clients, is based in Utrecht. With Veth Automotive, Snoeks has gained an additional product group in conversions of cars that are carried out after vehicles have left the car manufacturer.
Snoeks coordinates its global operations from the innovation center in Nieuw-Vennep. Seats for the double cabins are manufactured at the production facility in Litvinov, Czech Republic. At the assembly location in Krupka, Czech Republic, the interior concepts are converted into a pre-assembled kit. These kits are then distributed to the worldwide client network of automotive manufacturers and distributors. This approach makes Snoeks’ concepts unique.
The combined group operates throughout the world, with more than 600 employees working at over 10 locations.
Ron Snoeks, CEO of Snoeks Automotive: “Veth Automotive is the Dutch specialist in conversions for manufacturers such as Mercedes-Benz, Volkswagen and Ford, and it fits perfectly within our growth strategy for becoming a conversion platform for Automotive OEM’ in Europe.”
Hanneke Modderman, Investment director at Bolster Investment Partners: “Snoeks Automotive is market leader in double cabins for commercial vehicles, which are supplied as plug-and-play kits to automotive manufacturers, among others. Through the strategic acquisition of Veth Automotive, Snoeks has further strengthened its position and expanded its product portfolio.”