Mecaplast Group, which is backed by Equistone Partners Europe, has agreed to acquire Livonia, Michigan-based Key Plastics Corp, a maker of automotive interior, exterior and under-the-hood plastic components. No financial terms were disclosed.
Paris, October 10, 2016 – Mecaplast Group, a global supplier of plastic components for the automotive industry, announced today that it has entered into an agreement to purchase Key Plastics Corporation, a leading manufacturer of automotive interior, exterior and under-the-hood plastic components.
Through the transaction, Mecaplast Group will expand its presence in key markets such as the United States, Germany and China, and diversify its customer portfolio. The combined Mecaplast and Key Plastics groups will service all major global automotive manufacturers from facilities in virtually every major international market, offering its diversified customer base a broad portfolio of product capabilities from a truly global manufacturing footprint.
Closing of the transaction is subject to approvals by competition authorities in certain countries and other customary closing conditions.
About Mecaplast Group
Mecaplast Group, headquartered in Clamart, France, designs and manufactures plastic parts and complete systems for vehicle Engine and Body, generates €735M in sales, and employs more than 6,000 employees in 28 plants and 8 Skill and Technical Centers located in 18 countries. Created more than 60 years ago, Mecaplast Group serves Automotive Customers including PSA-DPCA, Renault-Nissan-Dacia, Fiat-Chrysler, Toyota, General Motors, SGM, BMW, Volkswagen Group, SAIC, Honda, Suzuki, Ford, Daimler, etc. Since April 2016, Mecaplast has been majority owned by funds managed by Equistone Partners Europe, a leading pan-European Private Equity investor.
About Key Plastics Corporation
Key Plastics Corporation, headquartered in Livonia, Michigan (USA), designs, manufactures and assembles high value add automotive interior, exterior and under-the-hood plastic components through operations in 11 Plants and 3 Technical Centers located in 7 countries. Created more than 30 years ago, Key Plastics serves OEM and Tier 1 automotive customers around the world. Key Plastics is majority owned by private investment funds managed by Wayzata Investment Partners LLC, a Minneapolis, Minnesota-based registered investment adviser.