Sixth acquisition in 2024: Mutares has signed an agreement to acquire Cikautxo Rubber & Plastic Components (Kunshan) Co., Ltd. from CIKAUTXO S.COOP.
- New add-on investment to strengthen the SFC Group, part of Amaneos
- Specialist in the development and production of rubber and plastic components for automotive and household appliance industries
- First deal from Shanghai office right after the office opening
Munich, June 4, 2024 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire Cikautxo Rubber & Plastic Components (Kunshan) Co., Ltd. (“Cikautxo China”) from CIKAUTXO S.COOP. The company will join the SFC Group, part of Amaneos, as a new add-on investment, strengthening the group’s presence in the market as global partner for plastic-based systems for the automotive industry and the Automotive & Mobility segment of Mutares.
Established in 2011, Cikautxo China is a specialist in developing and producing rubber and plastic components for the automotive and household appliance industry. Its broad product range includes fluid-conducting, vibration-damping and sealing components, door seals, and inlet and outlet bellows for washing machines, which it supplies to a wide range of customers. In recent years, the company has developed long-term relationships with blue-chip automotive customers such as Daimler, Ford, Geely and Volvo and household appliance customers such as BSH and Haier. With around 130 employees, the company generated revenues of approx. EUR 13 million in 2023 with significant growth potentials. Cikautxo China operates in Kunshan, Jiangsu province, China.
With Cikautxo China, SFC Group gets a footprint that can serve immediately for the production of business already awarded in the past. The aim is to further expand the manufacturing footprint of SFC Group in Asia and provide better support to our existing customers and exploit new market opportunities as well. SFC Group offers fluid transfer systems, lightweight fluid products, and sealing solutions for the automotive industry. Amaneos is a global partner for automotive manufacturers based in Frankfurt am Main, Germany, with more than 30 sites worldwide and a network of manufacturing and development facilities.
Robin Laik, CEO of Mutares, comments: “With the acquisition of Cikautxo, we are further strengthening our Automotive & Mobility segment in the rubber and plastic components field for the automotive and household industry. This is the first deal that we executed in China shortly after the office opening in Shanghai and we see more opportunities here. China is one of the most interesting markets for Amaneos and SFC Group, as it is the fastest growing automotive market next to India and I am highly confident, that we can further expand the company’s market position and capitalize on the growth potential.”