Sixth transaction of the current year – Mutares acquires system supplier for high-quality automotive technology
- Profitable, European-wide active automotive supplier with sales of around EUR 100 Million
- Acquisitions in 2019 lead to annualized sales growth of almost EUR 400 million in the Mutares Group
- Outlook remains positive with high number of transactions
Munich, July 16, 2019 – German investor Mutares AG (ISIN: DE000A2NB650) has acquired Kirchhoff GmbH & Co. KG, a traditional family business and established automotive supplier in Europe.
Mutares has acquired the complete business of Kirchhoff GmbH & Co KG (KICO) with its subsidiaries in Germany, Poland and Mexico from the owner family. As a new platform investment, KICO will strengthen the Automotive & Mobility portfolio segment alongside STS Group, Elastomer Solutions and Plati.
KICO, founded in 1939, is an automotive supplier with long-standing relationships with some of the world’s largest OEMs and Tier 1 suppliers. The company manufactures locking systems, hinges, fasteners and mechatronic systems. In 2019, the production of active aerodynamic systems will start, which will be installed in electric mobility vehicles, among other things, as they increase the range of electric vehicles. KICO employs over 800 people at its production sites in Germany, Poland and its logistics site in Mexico. In the 2018 financial year, the company generated sales of around EUR 100 million and a slightly positive operating result.
“With the takeover of KICO, we have gained a family business rich in tradition for our Automotive & Mobility segment. The company is an excellently positioned automotive supplier with significant value potential based on its innovative strength and long-standing relationships with automotive manufacturers and major suppliers. We are convinced that our expertise and our network in the automotive sector will promote KICO’s sustained profitable growth and are very pleased to have gained a promising platform,” says Robin Laik, CEO of Mutares AG.