Eleventh acquisition in 2023: Mutares signed an agreement to acquire High Precision Components Witten GmbH from Westebbe Verwaltungs GmbH and Peter Flaschel
- New add-on investment strengthening the KICO & ISH Group as system supplier of high-quality automotive technology
- Specialist for innovative precision components for OEMs
- Synergies in the production process with portfolio company KICO & ISH Group expected
Munich, November 6, 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire High Precision Components Witten GmbH from Westebbe Verwaltungs GmbH and Peter Flaschel. The transaction is expected to be completed in Q4 2023.
High Precision Components Witten GmbH, a leading Tier 1 automotive supplier, will join KICO & ISH, strengthening the group’s presence in the market.
Founded in 2015 with roots dating back to 1901, High Precision Components is based in Witten, Germany. The company employs around 200 professionals, producing precision components for automotive OEMs, including hinges, locking systems and body modules.
By investing in High Precision Components Witten GmbH, Mutares underlines its commitment to strengthening the Automotive & Mobility segment and expanding its portfolio. With this strategic step, Mutares is forming a powerful supplier group in order to leverage production-side and sales synergies while at the same time taking into account the dramatically changing market environment in the automotive supply sector, in consideration of the current technology, product and customer spectrum, and positioning KICO GmbH and Innomotive Systems Hainichen GmbH (ISH) together with High Precision Components Witten GmbH in a sustainable and future-proof manner.
The strategic alliance promises to fast-track the sustainable growth of High Precision Components. Through collaboration with Mutares’ companies KICO & Innomotive Systems Hainichen, the enhancement of High Precision Components is underway. With the evolving industry needs, there’s a focus on refining expertise in hinges and locking systems, targeting a leading position in this domain.
Mark Friedrich, CFO of Mutares, comments: “We are very happy to announce our eleventh acquisition in 2023. With this acquisition, we underline our experience in the Automotive & Mobility segment for precision components for Tier 1 manufactures. I am very confident that High Precision Components Witten GmbH can be further developed in its core competences while realizing valuable synergies and strengthening its competitive advantage.”