Tenth acquisition in 2022: Mutares has signed an irrevocable offer to acquire a plant of an automotive supplier in France
- New platform acquisition to strengthen the Automotive & Mobility segment
- Revenues of approx. EUR 200 million
- Manufacturer of high-quality gearboxes for the automotive industry
Munich, 23 September 2022 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed a put option for the acquisition of a facility in Bordeaux, which manufactures and assembles full transmissions for the automotive industry, owned by Magna. The closing of the transaction and the change of name are expected in the first quarter of 2023 after consultation of the works councils and subject to approval of the antitrust authorities.
The plant, which will generate revenues of around EUR 200 million in 2022, employs 740 people and has a long tradition of producing premium transmissions for the automotive industry.
Following the acquisition of three plants in Germany in July 2021, operating under the new name LMS, this underlines Mutares’ competence, trustworthiness and reliability under the best new owner principle. The Bordeaux plant produces full gear sets for hybrid, gasoline and diesel vehicle applications and will further strengthen the Automotive & Mobility segment of Mutares as it perfectly complements the portfolio companies CIMOS, PrimoTECS Group, KICO and ISH Group and brings deep expertise and capabilities in machining and assembly.
“With this acquisition, we once again demonstrate our ability to acquire assets from large companies. The plant is well invested and positioned to benefit from several strategic growth initiatives in the future. Based on the technological capabilities of the plant, we plan to generate new business by entering the hybrid and electric vehicle markets and leveraging synergies with our current portfolio. We therefore see great potential for the business as part of our portfolio,” comments Johannes Laumann, CIO of Mutares.