Early Life
Peter Unger was born on August 2, 1944. Unger started his career in the auto repair industry, which would later become the foundation of his wealth.
Rise to Success
Unger founded Auto-Teile-Unger (ATU) in 1985. ATU expanded into a nationwide chain and became a well-known brand in Germany. In 2002, Unger sold 80% of ATU to a British investor group for approximately $800 million. Two years later, he sold his remaining 20% stake to Kohlberg Kravis Roberts for roughly $360 million.
Key Business Strategies
Unger's strategy focused on building a comprehensive auto parts and repair business. This included offering a wide range of products and services, and expanding the company's footprint through multiple locations across Germany, Austria, and the Czech Republic.
Philanthropy
While specific details about Peter Unger’s philanthropic endeavors are not readily available, Unger is retired and currently invests in startups.