Mutares has successfully completed the acquisition of High Precision Components Witten GmbH from Westebbe Verwaltungs GmbH and Peter Flaschel
- Leading Tier 1 automotive supplier for innovative precision components for OEMs
- New add-on investment strengthening the KICO & ISH Group as system supplier of high-quality automotive technology
- High synergies in the production process expected
Munich, December 4, 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of High Precision Components Witten GmbH from Westebbe Verwaltungs GmbH and Peter Flaschel. The company will join KICO & ISH as a new add-on investment, strengthening the group’s presence in the market and the Automotive & Mobility segment of Mutares.
Founded in 2015 with roots dating back to 1901, High Precision Components is a specialist for innovative precision components for OEMs, including hinges, locking systems and body modules. The company employs around 200 professionals and is based in Witten, Germany.
With High Precision Components Witten GmbH joining the KICO & ISH Group, 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. The goal is to position the group in a sustainable and future-proof manner in consideration of the current technology, product and customer spectrum through focusing on refining expertise in hinges and locking systems, targeting a leading position in this domain.
KICO & ISH Group is now a leading global supplier of hinge and locking systems. With the four companies KICO, ISH, High Precision Components and PRINZ, Mutares is planning total revenues of approx. EUR 350 million for the fiscal year 2024. Mutares now aims to leverage synergies between the four companies in China, Germany, Poland and Bulgaria.