Rheinmetall has reached contractual agreements to take over the operational assets of IBD Deisenroth Engineering, a German supplier of passive protection systems mainly for light to heavy military vehicles.
Financial terms of the acquisition have not been disclosed by the companies.
Go deeper with GlobalData
Rheinmetall noted that the transaction will become effective on 1 June 2019.
According to Rheinmetall, the acquisition strengthens its position as a supplier of advanced defence technology to the Land Forces of Germany, its allies and partner countries.
Based in Lohmar near Bonn in Germany, the family-run IBD Deisenroth business has a workforce of 120 employees and posted sales of nearly €35m last year.
It also serves as an independent engineering bureau and has a research and development unit at Lohmar.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataIBD Deisenroth, through the Deisenroth family, has held a 49% stake in Rheinmetall Chempro, and the remaining 51% interest is owned by Rheinmetall.
In 2007, Rheinmetall and IBD Deisenroth teamed up to form Rheinmetall Active Protection to develop active vehicle protection systems.
Furthermore, IBD Deisenroth took part in the Gefas protected vehicle system development programme that was led by Rheinmetall Landsysteme in 2006.
In June, IBD Deisenroth Engineering introduced a new active armour solutions concept known as SMART-PROTech.
The technology was designed to provide protection against tandem warhead ammunitions for main battle tanks and medium-to-heavy armoured combat vehicles.
