Motherson acquires German polymer parts maker Dr Schneider for €118 million
New Delhi: In its second international acquisition this month, auto parts maker Samwardhana Motherson International on Monday said it will take over German high-end polymer parts maker Dr Schneider's business at an enterprise value of €118 million. The acquisition will expand Motherson's footprint in the interior polymers business with enhanced offerings in premium lighting panels and air vents. The deal follows Motherson's acquisition of Honda's Yachiyo sunroof business earlier this month.
The acquisition fits in with promoter Vivek Chaand Sehgal's strategy to chart growth via aggressive inorganic acquisition opportunities. The company has already acquired more than two dozen domestic and international businesses so far. "The overall enterprise value of this transaction is approximately EUR 118.3 million subject to certain actualisation.
This acquisition is done at the behest of our customers. The deal is expected to be closed by Q3 of FY23-24, subject to customary closing conditions and receipt of required regulatory approvals", SAMIL said in a statement announcement the acqusition. "Samvardhana Motherson International Limited (SAMIL) via its 100% subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRPBV) has entered into an agreement to acquire assets and shares of the Dr.
Schneider Group entities from the insolvency administrator, Dr. Joachim Exner. Dr.
Schneider Group is a manufacturer of high-end, innovative, and integrated electronic interior polymer components and systems, such as smart surfaces and lighting modules. The company is a technology leader in air-vents, decorative interior polymer components with illumination and has strong presence in premium vehicles. It employs approximately 4,500 people
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