Noida- Samvardhana Motherson Automotive Systems Group BV (SMRPBV)., a 100% subsidiary of Samvardhana Motherson International Limited (SAMIL)., has entered into an agreement to acquire assets and shares of the Dr. Schneider Group entities from the insolvency administrator, Dr. Joachim Exner.
Dr. Schneider Group is a manufacturer of integrated electronic interior polymer components and systems, such as smart surfaces and lighting modules. The company also produces air-vents, decorative interior polymer components with illumination and has strong presence in premium vehicles. The company has strong focus on R&D and product innovation, resulting in over 200 patents.
The company reported revenues of ~Euro 472 million for CY22. It has filed for insolvency in September 22 due to an unsuccessful operational and financial restructuring. It employs approx. 4,500 people in 7 facilities across 5 countries- Germany, Spain, Poland, USA, China.
With this acquisition, Motherson will gain access to electronic interior polymer components. The overall enterprise value of this transaction is approximately EUR 118.3 million and deal is expected to be closed by Q3 of FY23-24.
Commenting of the deal, Mr Vivek Chaand Sehgal, Chairman, Motherson said, “We have been trusted upon by our customer to take over this business. With their continued support we believe we will be able to turnaround this business like we have done every time in the past. We see a lot of synergies and untapped potential in this business, specially on the R&D side. We are looking forward to welcoming 4,500 people on our journey towards our Vision 2025 and beyond.”
About Dr. Schneider Group
Dr. Schneider Group is a manufacturer of high-end, innovative and integrated electronic interior polymer components and systems, such as smart surfaces and lighting modules. The company is a technology leader in air-vents, decorative interior polymer components with illumination and has strong presence in premium vehicles. The company reported revenues of ~Euro 472 million for the CY22. It employs approx. 4,500 people in 07 facilities across 05 countries (Germany, Spain, Poland, USA, China).
Recently Motherson acquired Rollon Hydraulics to strengthen its machining business valued at INR 76.5 crore as of 31st March 2023, and the deal is set on a cash transaction basis
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