Mutares completes acquisition of Kirchhoff.

Mutares, a leading German private equity firm, has completed the acquisition of Kirchhof, a leading automotive components manufacturer and supplier. Financial terms were not disclosed. As a part of the transaction, Mutares acquires the complete business of Kirchhoff(KICO) with its subsidiaries in Germany, Poland, and Mexico from the owner family. As a new platform investment, KICO will strengthen the Automotive & Mobility portfolio segment alongside STS Group, Elastomer Solutions and Plati. "With the takeover of KICO, we have gained a family business rich in tradition for our Automotive & Mobility segment. The company is an excellently positioned automotive supplier with significant value potential based on its innovative strength and long-standing relationships with automotive manufacturers and major suppliers. We are convinced that our expertise and our network in the automotive sector will promote KICO's sustained profitable growth and are very pleased to have gained a promising platform," Robin Laik, Mutares CEO.