— By Plasteurope.com staff — 

The European Commission has cleared the acquisition of German rubber and thermoplastics specialist ContiTech (Hanover) by US private equity firm Lone Star Funds (Dallas, Texas; www.lonestarfunds.com). The transaction was approved under the simplified EU merger review procedure, with Brussels citing the companies’ limited market positions and concluding that the takeover would not raise competition concerns.

Parent company Continental (Hanover; www.continental.com) agreed in July to sell its industrial subsidiary for EUR 4 bn, plus potential performance-related payments of up to EUR 250 mn. The transaction, which covers ContiTech’s worldwide operations, is expected to be completed by the end of 2026, subject to the remaining closing conditions. EU approval does not constitute completion of the sale.

Related: ContiTech starts plant expansion in the US

The ContiTech deal follows Lone Star’s acquisition and merging of Italian polyamide producer Radici with the engineered materials business of Belgian group Domo Chemicals. The two businesses have been be combined under a single management structure.

ContiTech employs around 22,000 people worldwide and generated sales of approximately EUR 4.4 bn in 2025. Its portfolio includes conveyor and drive systems, fluid management solutions, and damping and surface applications. In May, ContiTech announced plans to cut around 3,000 jobs worldwide, including 1,600 in Germany, as part of a restructuring programme aimed at achieving annual savings of EUR 150 mn by 2028.