Continental completes sale of ContiTech automotive business

Hanover, Germany – Continental AG has completed a previously announced sale of ContiTech’s automotive unit 'Original Equipment Solutions (OESL)', ahead of its plan to carve out the business group as an independent entity later this year.

The sale agreement for OESL to US-based, privately owned industrial holding company Regent, was signed in August last year.

The parties have agreed not to disclose the purchase price and further details, the German group announced 3 Feb.

With the divestment, ContiTech aims to sharpen its focus on industrial customers.

OESL currently employs around 14,000 people and generated sales of €1.7 billion in fiscal 2025.

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

“As a focused industrial champion, we will unlock our full potential,” said ContiTech head Philip Nelles on completion of the transaction.

Following the divestment, Nelles said ContiTech will be generating 80% of its total sales through industrial customers.

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