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Mutares mulling exit from STS
Posted on Friday, 09 March 2018 14:30
Frankfurt-listed holding company Mutares is considering selling or listing Halbergmoos-headquartered automotive parts wholesaler STS.

The company said it was currently mulling over its options and, if a deal goes ahead, it would be likely to take place this year.

Mutares chief executive Robin Laik said he believes the move will enable STS to expand its existing strong position as a leading supplier to major commercial vehicle original equipment manufacturers.

As yet, no potential acquirors have been named.

STS’s clients include big names such as Fiat, Alfa Romeo, Ferrari and CAT and its product range comprises integrated acoustic and thermal systems and components, exterior body parts and interior modules for trucks, commercial vehicles and passenger cars.

The company has offices in Italy, France, Poland, Mexico and China, as well as two locations in its home country.

Mutares has completed a number of divestments in recent months, having divested German packaging machinery manufacturer A+F Automation + Fordertechnik to CGS Management for EUR 25.00 million in December.

Previous sales have included Weissenfels-headquartered rotary tables manufacturer Fertigungstechnik Weissenfels and Sassnitz-based pipeline coating maker Eupec PipelineServices, which were divested in April and February 2017, respectively.

Zephyr, the M&A database published by Bureau van Dijk, shows there were 104 deals worth a combined USD 7.23 billion targeting motor vehicle supplies and new parts merchant wholesalers announced worldwide during 2017.

In terms of value, this represents an annual record, while volume was surpassed only by 2011 (136), 2014 (105) and 2015 (122).

So far in 2018 there have been 14 such transactions worth an aggregate USD 95 million announced. The most valuable was worth USD 74.00 million and involved Compagnie Financière Michelin buying a 20 per cent stake in German car parts wholesaler Christophorus Holding.

Other companies targeted since the beginning of this year include Wah Hung Group, Raico and IABO Global Holding.

© Zephus Ltd