Next step towards leadership in filtration
MANN+HUMMEL strengthens its filtration focused strategy
Ludwigsburg, May 31, 2022 – The MANN+HUMMEL Group announced today that it signed an agreement to sell the global high-performance plastic parts business to Mutares SE & Co. KGaA (ISIN: DE000A2NB650). The business comprises products other than filtration and separation solutions, such as air intake manifolds, high pressure air ducts and fluid reservoirs.
As part of the transaction, MANN+HUMMEL’s production facilities in Bad Harzburg, Sonneberg (both Germany) and Laval (France) with approx. 1,500 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 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. 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,” said Kurk Wilks, President and CEO of the MANN+HUMMEL Group.
“We will continue to offer innovative filtration solutions to automotive customers, including International Aftermarket offerings and services. Sharpening our strategic profile allows us to increasingly steer our investments and research in sustainability and alternative drive concepts,” Emese Weissenbacher, CFO and Executive Vice President of the MANN+HUMMEL Group, said.
“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. 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.”, comments Johannes Laumann, Chief Investment Officer of Mutares SE & Co. KGaA.
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.