Mann+Hummel selling plastic parts business
By Mike Brezonick31 May 2022
The Mann+Hummel Group announced it has signed an agreement to sell its global high-performance plastic parts business to Mutares SE & Co. KGaA. The business comprises products other than filtration and separation solutions, such as air intake manifolds, high pressure air ducts and fluid reservoirs. No financial details were provided.
As part of the transaction, Mann+Hummel’s production facilities in Bad Harzburg and Sonneberg, Germany, and Laval, France, encompassing approximately 1500 employees, will be transferred to Mutares.
The international private equity investor focuses on scaling the development potential of medium-sized companies with an established business model and brand. During the transition, Mann+Hummel said it will provide a continuous supply of high-performance plastic part products.
“To further strengthen our commitment towards our vision of Leadership in Filtration and our mission of separating the useful from the harmful, Mann+Hummel has decided to exit the segment,” said Kurk Wilks, president and CEO of the Mann+Hummel Group. “With an absolute focus on filtration and separation solutions in the areas of Transportation and Life Sciences & Environment, we are confident that with this change, we can speed up and further solidify our transformation strategy.
“Our outstanding teams supporting the high-performance plastic parts have established a strong foundation - the business is well positioned in the global market. We are convinced that they will strongly benefit from Mutares’ track record of driving operational performance and adding long-term product capabilities.”
The acquisition of the Mann+Hummel business is Mutares’ sixth purchase of 2022 and is expected to strengthen the company’s Automotive & Mobility segment. The company, headquartered in Munich, Germany, also owns LMS, a supplier of plastic exterior components for automotive applications.
“As a private equity investor who focuses on scaling the development potential of businesses, we are excited and happy to welcome the business into our Mutares family and further build on its foundation,” said Johannes Laumann, chief investment officer of Mutares SE & Co. KGaA. “With our highly motivated team and expertise in the automotive industry and our synergy potential with LMS and the SFC Group we see great opportunities and enormous growth potential, and I am confident to successfully align it with its employees in the long term.”
Closing of the transaction is expected to take place by the end of the third quarter of 2022, subject to the satisfaction of customary regulatory approvals and other conditions.