Mutares SE & Co. KGaA has signed an agreement to acquire Fischer Automotive Systems GmbH & Co KG from Fischerwerke GmbH & Co KG to expand its automotive and mobility segment as a new platform investment.
"With the acquisition of Fischer Automotive, we are strengthening our automotive and mobility segment in the field of plastics processing and further expanding our global presence in Europe, China and the USA," Robin Laik, CEO of Mutares, said in a June 5 news release.
The deal is expected to be complete by the end of July and is subject to regulatory approvals.
"The international expansion of the Mutares Group is clearly paying off," Laik added. "I am very confident that we will be able to capitalize on the company's growth potential and achieve strategic improvements through our extensive know how in the automotive sector and close relationships with key players in this field."
Last year, Mutares acquired Mann+Hummel's plastic parts business segment, which it added to its own automotive and mobility segment.
Munich-based Mutares did not immediately respond to request for comment by Plastics News.
Fischer Automotive develops, manufactures and sells kinematic components for vehicle interiors and exteriors, like air vents, storage compartments, cup holders and electrically operated tailgates at its headquarters in Horb am Neckar, Germany and other plants in the Czech Republic, Serbia, the U.S. and China.
With around 1,200 employees, the company generated 2023 sales of about 166 million euros ( $179 million). The company's customer base includes Audi, BMW and Tesla and Tier 1 suppliers Faurecia and Magna.