Mutares SE & Co. has signed an agreement to acquire Mann+Hummel's plastic parts business segment to strengthen its own automotive and mobility egment.
The deal includes Mann + Hummel's entire business beyond filtration and separation solutions, covering parts such as air intake manifolds, high-pressure air lines and fluid reservoirs, a May 31 news release said.
When the deal closes, Mutares will acquire Ludswigsburg, Germany-based Mann + Hummel's production facilities in Bad Harzburg and Sonneberg, Germany, and Laval, France, and about 1,500 employees.
"With our expertise in the automotive industry and the trend towards e-mobility, we see new opportunities and thus enormous growth potential for the company," Johannes Laumann, chief investment officer of Mutares SE & Co., said in the release. "Especially the synergy potential with LMS and the SFC Solutions Group will make the company an indispensable partner in the automotive supply sector of plastics and elastomers,"
Mutares and Mann + Hummel have also agreed to a manufacturing cooperation.
"Mann + Hummel's business is very well positioned in the market and supplies well-known original equipment manufacturers in the automotive industry worldwide," the release said.
Mutares did not respond to questions from Plastics News.
The acquisition is Mutares' sixth in 2022 as it grows its engineering and technology and automotive and mobility segments.