Peter Unger Net Worth

Peter Unger was born on April 25, 1942 in Neustadt an der Waldnaab, Germany, Germany. From a single location opened in 1985, Peter Unger built his namesake auto parts and repair outfit, Auto-Teile-Unger (A.T.U.), into a successful nationwide chain. In 2002, he sold 72% of the company to British investor group Doughty Hanson & Co. for $900 million. In 2004, Kohlberg Kravis Roberts & Co. bought the entire company, including Unger's remaining 19% stake, for which he received $360 million. Today, there are over 600 A.T.U. stores in Germany, Austria and Switzerland with around 10,000 employees; but ever since the sale of the company and a failed IPO in 2004, it has struggled with debt, high rents for garages and less demand for servicing cars. In late 2013, KKR sold A.T.U. to private investment firm Centerbridge Partners for one euro. In December 2016, it was acquired by French group Mobivia. Residing in Bavaria, Unger is now investing in listed companies, startups and real estate, mostly through his Unger Unternehmensgruppe. In 2005, he founded a company focused on food hygiene, aquagroup AG, where he is chairman of the board. He is the sole importer for Taiwanese company Kymco in Germany and the Czech Republic, selling motorbikes and quads. In early 2017, Unger Unternehmensgruppe subsidiary MSA will open a bike center on the site of a former tire warehouse, focusing on electric bicycles. Unger's investments also include Tacterion, a German sensor technology startup, and a company attempting to make grain and potato varieties more resistant against vermin and heat waves.
Peter Unger is a member of Automotive