US company Regent acquiring ContiTech OESL unit

Hanover, Germany – ContiTech is to sell its Original Equipment Solutions (OESL) business to privately owned industrial holding company Regent, Continental announced 27 Aug.

The transaction is subject to antitrust approval and the parties have agreed not to disclose the purchase price and further details, noted the German group.

Based in Los Angeles, California, Regent has interests across the automotive, media, consumer, and technology sectors, according to ContiTech.

The divestment is part of ContiTech’s strategy to focus on industrial customers as it moves forward with plans to spin off from Continental AG.

“Going forward, ContiTech will be a standalone specialist for material solutions with a strong focus on industry,” said Philip Nelles, head of the ContiTech group sector.

According to Nelles, the industrial business will be the “cornerstone” of ContiTech’s strategy, with the company expecting to generate 80% of its revenue from industrial customers following the sale of OESL.

OESL employs over 16,000 people and generated sales of around €1.9 billion in fiscal 2024.

The business area develops and produces hose lines and bearing elements for both combustion-engine and electric vehicles.

As a long-term owner, Regent said it will “work closely with management to drive the transformation to sustainable, future-oriented mobility solutions and harness OESL’s potential to enhance value.”