MUNICH: Mutares SE & Co. has signed an agreement to acquire Innomotive Systems Hainichen GmbH from a Chinese state-controlled enterprise, a news release said.

 The company will strengthen Mutares’ Automotive & Mobility segment with production sites in Germany and China, with a total of around 450 employees and will be complementary to the KICO Group.

The closing of the transaction is expected in the fourth quarter of 2021. Innomotive Systems Hainichen GmbH headquartered in Hainichen, Germany, with its subsidiary Innomotive Systems Hainichen Ltd. headquartered in Nanjing, China, is a leading manufacturer of sophisticated, high-precision machined door hinges made of steel or aluminium, as well as complex hinges for hoods, tailgates, and lids.

The company is the world’s number one supplier of aluminium hinges for automotive applications. In 2020 the company achieved revenues of approximately EUR 120 million. Innomotive Systems Hainichen can tap a significant synergy potential with Mutares’ portfolio company KICO, a provider of car components such as hinges, locking systems, and mechatronic systems with locations in Germany, Poland, and Mexico.

For Mutares, this is the third acquisition in the current year within the automotive industry, underlining its expertise and trust from automotive companies worldwide.

Johannes Laumann, CIO of Mutares comments: “We are excited to announce a further acquisition in the automotive sector. Innomotive Systems Hainichen offers numerous synergies within the existing portfolio, especially with KICO, bringing the companies to become a truly world-wide provider of car components. As far as I know, this is the first sell-side transaction of a Chinese state-controlled company in Germany, which is unique and underpins the high reputation of Mutares in the European private equity sector.”

Mutares SE & Co. KGaA, Munich , as a listed private equity holding company with offices in Munich (HQ), Frankfurt, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires medium-sized companies and parts of larger groups with headquarters in Europe that show a clear potential for operational improvement and are sold again after undergoing a repositioning and stabilization process. www.mutares.com