automotive

Cimos Management Buyout Changes Ownership of Serbian Automotive Supplier

Cimos has moved into management ownership following a buyout backed by Vero Automotive 111, with the transaction transferring control of the automotive supplier from German investment group Mutares. The company employs around 1,350 people across Serbia, Slovenia, Croatia and Bosnia and Herzegovina and generates approximately €120 million in annual revenue. Its manufacturing activities cover components for turbochargers, powertrains, braking systems and vehicle electrification. Kikinda remains part of Cimos’s regional production network Cimos’s Serbian manufacturing operation in Kikinda is integrated into…