Private equity company Mutares takes over Fischer Automotive Systems
Fischer sells its automotive division. The investment company Mutares will take over Fischer Automotive Systems GmbH & Co. KG from Fischerwerke.
In its press release, Fischer speaks of a groundbreaking decision for the automotive division. The group of companies known for its dowels also explains that the situation in the automotive industry has become increasingly difficult, especially for suppliers. According to Fischer's further explanations, automotive suppliers need a certain size to be economically successful. For this reason, the family-owned company sees the takeover of Fischer Automotive by Mutares as the best solution for the automotive division.
International network
According to Fischer, Mutares has an international network and generates sales of EUR 2.5 billion in the automotive sector.
According to the Mutares press release, Fischer Automotive's turnover in 2023 amounted to around EUR 166 million. Thanks to its extensive expertise in plastics processing and its global subsidiaries, Fischer Automotive has good relationships and direct access to a strong customer base, Mutares writes.
Well-known customers of Fischer Automotive
According to the investment company, Fischer Automotive's customer base includes well-known OEMs (Original Equipment Manufacturers) such as Audi, BMW and Tesla as well as Tier 1 suppliers such as Faurecia and Magna.
According to Mutares, the takeover is still subject to approval by the antitrust authorities. According to Fischer, both parties have agreed not to disclose the purchase price.