Mutares plans to grow its automotive business

Mutares has made an irrevocable offer to acquire two French plants of the Mecaplast Group. The two plants generate revenues of EUR 70m by producing interior and exterior parts for trucks. The acquisition would be a perfect add-on for STS, a portfolio company of Mutares .

The two profitable plants of the Mecaplast Group, based in Izernore and Précigné, France, generate revenues of EUR 70m with 340 employees. The order backlog of EUR 600m is anticipated to secure the full utilization for many years. Both plants are very closely located to their customers, thus further broaden the customer base of STS. The production of interior and exterior parts for trucks perfectly complements the product portfolio of STS.

STS, a portfolio company of Mutares, is a leading provider of innovative solutions for acoustic and thermal insulation supplying almost all European truck manufacturers out of three sites in Italy. The company generated revenues of EUR 135m in 2015 and will start production in the newly established plant in Poland in Q4-2016, which will already be almost fully utilized due to two major contracts. Mutares plans to acquire further add-ons to strengthen the strategic positioning of STS.

The irrevocable offer is being studied by Mecaplast and is submitted to the workers’ representatives of the two plants for their position.

Company profile of Mecaplast

Mecaplast Group, a European leader in automotive equipment, develops, designs and manufactures parts and complete systems for the vehicle body and engine. Located in 18 countries, it reports revenues of more than EUR 700m in 2015 and employs 6.000 people.