Clearwater advised Rhein Invest on the sale of its portfolio company, Spiegel Institut, to Visteon Corporation
Rhein Invest sold Spiegel Institut to Visteon
We have advised Rhein Invest on the sale of its portfolio company, Spiegel Institut, to Visteon Corporation (Visteon), a US-listed global leader in automotive cockpit technology.
Headquartered in Mannheim, Germany, Spiegel Institut is a market-leading user experience (UX) consultancy specialising in Human-Machine Interface (HMI) development for premium automotive OEMs.
Under Rhein Invest’s ownership and in close partnership with Dr. Andree Kang, CEO of Spiegel Institut, the company achieved several strategic milestones. These included the successful succession of the founding shareholders, expansion of its service portfolio, and the completion of an add-on acquisition to strengthen its position along the value chain. As a result of these initiatives, Spiegel Institut experienced significant growth, achieving a 140% revenue increase and more than tripling its EBITDA over the past four years.
Rhein Invest provides growth capital and strategic support to small and medium-sized enterprises in the German-Dutch market. The firm is known for its long-term investment philosophy, commitment to responsible business practices across ESG dimensions, and disciplined financial structuring focused on sustainable value creation.
Visteon is a global leader in automotive cockpit electronics, pioneering the software-defined future of mobility through innovative technology solutions. The comprehensive portfolio spans digital cockpit solutions, advanced displays, battery management systems, and power electronics for EVs, enhanced by cutting-edge software capabilities and artificial intelligence integration. Visteon employs approximately 10,000 people across 17 countries and generated revenues of $3.87bn in 2024.
Visteon’s partnership is an honour for us – and a great opportunity. We are gaining a strong partner with whom we can scale and further develop our expertise globally, while staying true to who we are. – Dr. Andree Kang, CEO, Spiegel Institut
We were delighted to advise Rhein Invest on the divestiture of Spiegel Institut to Visteon, a global pioneer in automotive cockpit technology. This partnership holds immense potential and will significantly advance the development of HMI, especially in the automotive and adjacent sectors. – Axel Oltmann, Managing Partner, Clearwater