The Gores Group sold Hay Group to Musashi Seimitsu for €495m.

The Gores Group sold Hay Group, the largest producer of high precision forged and machined steel automotive parts in Europe, to Musashi Seimitsu, a Japan-based manufacturer of automotive components, for €495m. “The success of Hay demonstrates our ability to work with a portfolio company to improve and expand on its operations, and our strong track record in both Europe and the automotive space,” said Alec Gores, Chairman and CEO of The Gores Group. “We were pleased to see Hay make significant strides following our acquisition. Its growth and expansion is a testament to the strength of the management team, its dedicated employees and our operations team, which worked alongside the company to help build and scale the business.”