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 and Sonneberg, Germany and Laval in France and their 1500 employees will be transferred to Mutares.
“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,” explained Kurk Wilks, president and CEO of the Mann+Hummel Group. “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.”
“We will continue to offer innovative filtration solutions to automotive customers, including International Aftermarket offerings and services,” said Emese Weissenbacher, CFO and executive vice president of the Mann+Hummel Group. “Sharpening our strategic profile allows us to increasingly steer our investments and research in sustainability and alternative drive concepts.”
Mutares focuses on scaling the development potential of medium-sized companies with an established business model and brand.
“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,” added Wilks.
The transaction is expected to close by the end of the third quarter of 2022.
