Born on August 2, 1944, he is the man behind the success of Auto-Teile-Unger (ATU), an auto parts and repair outfit in Germany which has a grown into a well-known chain of stores. This venture sprouted from the tire deal that he sold in 1985. The business now sells various vehicle accessories, tires and auto parts. In addition, this business also operates vehicle shops that provide auto services that range from car washing to overhauling. With the proceeds that he earned from selling his tire deal, he made his ATU boom by investing in it. The expansion of the business started in 2002 and now has operations in Austria, Germany, Switzerland, Italy, Czech Republic and the Netherlands. It became a global success that it now has 600 stores and employs more than 12,000 associates.
His career as an entrepreneur has made a turn when he decided to sell his business in 2002. For $800 million, he sold his ATU to British investor group Doughty Hanson & Company. The deal closed with him walking away with just a 20 % stake in the business he founded. Two years later, he made the final decision of letting go of the business entirely by selling his remaining stake to Kohlberg Kravis Roberts for another $360 million. Together with the purchase, Roberts acquired the entire business from Doughty Hanson & Company.
Peter Unger is now retired and is happily married with two kids. He currently resides in Weiden, Germany where he continues to practice his entrepreneurial skills by investing in startups.