Mutares has signed an agreement to acquire a plant of an automotive supplier in Bordeaux
- Acquisition includes Magna’s plant in Bordeaux, producing high-quality gearboxes and is intended to strengthen the Automotive & Mobility segment
- Revenues of approximately EUR 200 million
- Synergy effects expected with the subsidiaries of Mutares’ Automotive & Mobility segment focused on metal processing
- Closing expected in the first quarter of 2023
Munich, 22 December 2022 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed the Sale and Purchase Agreement for the acquisition of Magna’s facility in Bordeaux, France, after signing a put option in September 2022 and after the finalization of the works council consultation. The facility manufactures and assembles manual transmissions for the automotive industry. The closing of the transaction, which is subject to certain conditions precedent, and the rebranding are expected in the first quarter of 2023.
The plant, which is expected to 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 under the new name LMS, this transaction underlines Mutares’ competence, trustworthiness, and reliability under the best new owner principle. The Bordeaux plant produces full gear sets for 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.