Bodywork specialist Thyssenkrupp Automotive Body Solutions acquires a stake in Cap-on, a Bavarian startup specializing in digital pay-per-use services.
The two companies are pursuing new financing and digital usage concepts in capital-intensive factories and industrial goods.
Thyssenkrupp has acquired a minority stake and advises the start-up company in the design of its range of services for industrial clients.
CEO Falk Nuessle said: “As a factory manufacturer and at the same time operator of bodywork production facilities, we as a company can benefit from new financially strong financing models. At the same time, we want to expand our business model as an equipment manufacturer with new digital services such as pay-per-use or equipment as a service. To this end, we bring the knowledge of complex machine and plant control to the table, while Cap-on provides the know-how for new financing models and digital invoicing systems.”
Cap-On CEO Philipp Lenz said: “By working even more closely with Thyssenkrupp in the future, we will benefit not only from their excellent expertise in bodywork and factory building, but also from the opportunity to share our innovative financing and service models directly with develop customers.”
The business idea behind pay-per-use of equipment as a service is based on the fact that industrial companies no longer have to finance and purchase their production equipment themselves, but purchase specific production and labor services from a service provider. The service also includes other services such as installation, maintenance and supply of spare parts. The service provider guarantees the availability of the equipment. As a result, the industrial customer benefits from less risk in long-term investment decisions, less resource commitment, shift from capital expenditures to operating costs, and greater flexibility in production control. A prerequisite for such a business model is the digital networking of production processes and machine data with intelligent financing and billing processes as an IOT platform solution.
“Through our investment in Cap-on, we are combining all the capabilities needed to successfully get an equipment as a service business model up and running: new financing models, the use of IOT data analytics in the production environment and digital billing processes. We are confident that this platform-based business model will revolutionize industrial goods production as it is also scalable to other areas, such as capital-intensive IT applications,” added Nuessle.