Samvardhana Motherson International Limited (SAMIL) via its 100% subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRPBV) has enter 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 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.
It employs approx. 4,500 people in 07 facilities across 05 countries (Germany, Spain, Poland, USA, China).
The company has strong focus on R&D and product innovation, resulting in over 200 patents.
More than 90% of its products have been developed in-house by a dedicated team of 240+ engineers, operating out of its fully equipped R&D centre in Germany.
It also has in-house tooling capabilities for the entire product range. The company reported revenues of ~Euro 472 million for the CY22.
It has filed for insolvency in September 22 due to an unsuccessful operational and financial restructuring.
Motherson is a leading Tier 1 supplier of polymer based interior modules and is working closely with automotive OEMs towards enhancing interior experience.
There is a lot of synergies between Motherson and Dr. Schneider. Aesthetics and interior illumination are playing important role in the growing trend of premiumisation.
With this acquisition, Motherson will also gain access to innovative electronic interior polymer components and can offer these innovations and technologies to other emerging countries and to medium segment customers by leveraging its existing global footprints and customer relationships.
The overall enterprise value of this transaction is approximately EUR 118.3 million subject to certain actualisation.
This acquisition is done at the behest of our customers.
The deal is expected to be closed by Q3 of FY23-24, subject to customary closing conditions and receipt of required regulatory approvals.
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).
About SAMIL (Formerly Motherson Sumi Systems Limited.) and SMRPBV
Samvardhana Motherson International Limited (SAMIL) is a diversified global manufacturing specialist and one of the world’s largest and fastest-growing automotive suppliers for OEMs.
Motherson supports its customers from more than 300 facilities across 41 countries, with a team of over 164,000 dedicated professionals.
The company recorded revenues of USD 12.7 Bn for FY23 and is among the top 25 largest automotive suppliers worldwide.
Samvardhana Motherson Automotive Systems Group BV (SMRP B.V.) is a 100% subsidiary of SAMIL and is present in all major global automotive production hubs, with 110 facilities spread across 29 countries.
SMRC Automotive Holdings Netherlands B.V. (“SAHN B.V.”) is a 100% subsidiary of SMRP BV.
Module and Polymer Products Business Division
Motherson is leading expert in high quality interior and exterior polymer modules for the automotive industry and is one of the largest manufacturers of polymer-based modules and components globally.
The Modules and Polymer Products division of Motherson develops and produces a highly diversified product range from simple plastic parts to highly integrated systems and modules, supplying to leading automotive OEMs globally.
The division’s expertise in multiple polymer processing technologies is the optimal foundation for the development of cost-optimised products with highest quality standards and of innovative and sustainable solutions.
Many of the division’s products are prominently visible in the inside and from the outside of the vehicles thus, contributing significantly to their aesthetic appearance.
The division has 101 facilities spread across 25 countries.
