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2017 Auto Parts Industry, Large-scale Investment And Mergers And Acquisitions Inventory
Jan 05, 2018

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

Each year auto parts business mergers and acquisitions have occurred from time to time, 2017 has quietly leave, Geshto Automobile summary of the past year found that some mergers and acquisitions have been completed, and some are still under way, let's look together Look at what happened this year, large-scale well-known investment M & A case!

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

1 Geely Automobile denounced 1,833 million yuan to acquire 3 companies to expand engine and transmission capacity

Geely Automobile (00175) announced on November 7, 2017 that its subsidiary Geely Luo You acquired the entire registered capital of the Target Company from Zhejiang Geely for a consideration of RMB341.5 million.

On November 7, 2017, Geely Luoou acquired the entire registered capital of the Eli Li Target Company from Zhejiang Geely and Shanghai Maple for a consideration of RMB495 million.

On November 7, 2017, Geely Luoou acquired the entire registered capital of SZX Target Company from Geely Holding for a consideration of RMB993.1 million.

2 pairs of money Tire Group invested 107 million yuan to buy 10% stake in tire Tire Michelin will no longer hold

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

Shanghai Huayi Group Co., Ltd. said that its controlling parent, Shanghai Huayi (Group) Co., Ltd., planned to hold the entire equity interest of Double Money Group (Anhui) Pullback Tire Co., Ltd.

Among them, double money Tire Group Co., Ltd. invested 107 million yuan, the acquisition of 10% stake in tire.

The original owner of this shareholding is Michelin (China) Investment Co., Ltd.

Double Tire Group is a wholly-owned subsidiary of Shanghai Huayi Group.

Meanwhile, Shanghai Huayi Group (Hong Kong) Co., Ltd., a wholly owned subsidiary of Shanghai Huayi (Group) Company, invested 320 million yuan to acquire a 30% stake in Pullback Tire.

This part of the original ownership of France Compagnie Financiѐ re Michelin SCmA (CFM company).

The signatories said that Shanghai Huayi (Group) Co., Ltd. held the entire equity interest in Tirelli, which is conducive to the sustainable development of "Pullback", "Double Money" and "Michelin" brand.

After the transaction was completed, Shuangqian Tire Group, Shanghai Huayi (Group) Company and Shanghai Huayi Group (Hong Kong) held 50.8%, 19.2% and 30% equity interest in Tricycle respectively.

3 Autoliv acquires part of Fotonic i NordenAB assets for laser radar and intellectual property

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

Gasgoo According to foreign media reports, Autoliv and Fotonic i Norden AB signed an agreement to acquire part of the assets of the latter. Fotonic i Norden AB, based in Stockholm and Skellefteå, Sweden, is an expert in LIDAR and Time of Flight (ToF) cameras and is responsible for the design, development and Manufacturing work.

After the acquisition, some of Fotonic i NordenAB's intellectual property, R & D and prototype assets and R & D resources will be transferred to Autoliv's, including 35 LIDAR and ToF camera engineering experts.

The transaction is expected to be completed by the end of 2017 in line with the customary closing conditions and the acquired assets will be owned by Autoliv Electronics.

4 China National Automotive to be 1.7 billion acquisition of 50% stake in Shanghai Xiaohuang

On the evening of September 28, Huayu Automobile announced that it planned to invest 1.176 billion yuan to acquire Japan's Xiaoya and Toyota Tsusho to jointly hold 50% of Shanghai Xiaonai's shares. Prior to this, Huayu Automobile, Japan's Koji and Toyota Tsusho, as the controlling shareholder of Shanghai Xiaohuang, owned 50%, 45% and 5% equity interests in Shanghai Xiaohuang respectively. Once the transaction is completed, Shanghai Xiaohuang will become the wholly-owned subsidiary of Huayu Automotive Subsidiary companies.

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

According to the statistics, Shanghai Xiaodi is mainly engaged in the research, development and manufacture of automotive lighting systems. Its major customers are SAIC-Volkswagen, SAIC-GM, Changan Group, FAW-Volkswagen, SAIC, Dongfeng Nissan and Dongfeng Passenger Vehicles. In 2016, Shanghai Xiaojian revenue was 9.825 billion yuan, net profit was 406 million yuan in the same period; from January to July 2017, Shanghai Xiaojian revenue reached 7.032 billion yuan, with a net profit of 293 million yuan over the same period.

5 Bosch-Mahler to be acquired for sale of turbine business Fangyuan Capital Plan

The Bosch Group and the MAHLE Group plan to sell their joint venture, Bosch Mahler Turbocharging System (BMTS), with the acquisition of Fangyuan Capital, a private equity investment firm comprising partners of the world's most prominent institutional investors. Fangyuan Capital plans to acquire the entire Bosch-Mahler business and approximately 1,300 employees in all regions (as of August 2017) are all transferred to the new company.

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

Bosch, MAHL and Fangyuan Capital signed the acquisition agreement on September 6, 2017. The three parties agreed not to disclose the purchase price and related details. The acquisition is still to be antitrust and other relevant departments to review.

Fangyuan Capital plans to further expand its turbo business and bring sustainable growth to Bosch-Mahler. "Turbocharger technology is one of the important solutions to help reduce emissions and we believe turbocharged markets will continue to grow in the coming years. With a solid foundation in R & D and advanced manufacturing technologies, Bosch Lehre will benefit from this market trend as part of the overall investment plan and we will continue to invest in Bosch MAHLE to ensure that the company can achieve long-lasting success and occupy a strong market position. "Fangyuan Capital CEO and Co-founder Mr. Tang Kui said.

6 WABCO to Acquire US Commercial Vehicle Technology Supplier Chi Parida expands its turnaround capability

WABCO, the world's leading supplier dedicated to improving the safety, efficiency and interconnectivity of commercial vehicles, announced on August 24 the signing of an agreement to acquire RH Sheppard Co., Inc., a privately held company. Chippingstar is a major supplier of commercial vehicle technology, providing industry-leading vehicle steering capabilities and is headquartered in Hanover, Pennsylvania, USA.

The deal, which is customarily subject to regulatory approvals in the United States, was previously expected to be completed by the end of the third quarter of 2017 and no wind up was heard at this time. Wabaco's purchase price was $ 145 million and the price may be adjusted according to established practice. Chi Fidelity sales in 2016 reached 130 million US dollars.

Chippingstar is a leading North American primary supplier of a wide range of power steering gear that sets the industry standard for heavy-duty commercial and specialty vehicles. With over 900 employees, Chippingstar also supplies precision engine pumps and leading remanufacturing services. At the same time, the company vertically integrates its own manufacturing with advanced foundry capabilities, which WABCO expects to use for some of its products.

In addition, Chipstrips will provide a compact and cost-effective groundbreaking technological solution through its existing exclusive agreement with leading turn-by-turn control suppliers to provide North American commercial vehicle manufacturers with active steering control.

7 Valeo completed the acquisition of Germany FTE Group, the leader in automotive transmission technology

On October 31, Valeo announced that it has completed the acquisition of Germany's FTE Group, a technology leader in automotive transmission technology, which has been approved by the European Commission and the Turkish antitrust agency.

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

Headquartered in Germany, Germany FTE Group is the world's leading manufacturer of automotive clutches and gear transmissions and is highly complementary to Valeo in terms of product line and customer layout. The acquisition will provide Valeo with a wide range of active hydraulic control systems prospect. With the rise of hybrid vehicles and electric vehicles, active hydraulic control system will be a very strategic and rapid development of the market.

In 2016, FTE Group of Germany had sales of approximately 550 million euros and over 3,800 employees worldwide. The company's diversified production footprint covers 8 countries including Germany, the Czech Republic, Slovakia, Mexico and China.

In the first year of the acquisition, FTE of Germany will help Valeo realize its performance growth.

8 KSS acquired Takada

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

In June of this year, Japan's largest auto parts company, Takada, a 84-year-old company, filed for bankruptcy protection due to the quality of the airbags and other fake products.

Takada will seek bridge loans from Sumitomo Mitsui Financial Group, Japan's leading financial institution, to deal with various debt problems, with loans up to tens of billions of yen (billions of U.S. dollars).

As one of the bigger auto airbag providers in the world, Takada has had months of acquisition negotiations with China-controlled KSS. KSS is Takata's peer competitor and was acquired by Kusun Electronics, a Chinese auto parts maker, in early 2016.

It was reported that KSS agreed to acquire Takata for all its assets except for the recall of the issue airbag for a consideration of 1.588 billion U.S. dollars (about 10.86 billion yuan). Jason Luo, president and chief executive officer of KSS, said in a statement that despite the airbag recall, the "potential" of Takata's business has not been weakened.

KSS plans to keep Takata employees "basically all" under the same conditions of employment and denies that it will shut down Takata's factory in Japan.

In the meantime, KSS said it will continue to fulfill contractual supplies unrelated to the recall of the issue airbag and will sign the definitive agreement within weeks.

KSS expects the entire acquisition to be completed in the first quarter of 2018.

Huatai will acquire Shuguang Group Power New Energy / Commercial Vehicles

Dawn shares announcement that the largest shareholder of the Group intends to Shuguang 97,795,500 shares held by its stake in the sale of shares to Huatai Automobile, and its 45,818,300 shares held by the vote to Huatai Automobile. After the aforesaid transaction was completed, the total number of shares with voting rights of Huatai Automobile in Shuguang Shares amounted to 144.71 million shares, accounting for 21.27% of the total share capital, becoming the actual controlling shareholder. The initial transfer price of shares set at 23.21 yuan / share, which means that China and Thailand will pay 2.222 billion yuan.

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

After the acquisition, Huatai will center on Beijing Engineering Research Institute, Tianjin, Shanghai and Beijing New Energy Research Institute of the three major design branch as a support, Russia, Germany, Munich, the United States Silicon Valley three technology centers based on the vehicle R & D distribution system , So as to fully realize the resource integration with the Yellow Sea and complement each other's technical advantages.

Future Huatai Automobile plans to achieve 500,000 units in sales by 2020, with sales of 100 billion yuan; of which 400,000 are planned for traditional energy vehicles, 100,000 for new energy vehicles and 3 billion watts-watt for power batteries.

10 Chinese companies $ 595 million acquisition of Bosch Motor business

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

May 2 Bosch announced that it will sell SG Holdings, a subsidiary of Zhengzhou Coal Mining Machinery Group and private equity firm Zonta Investment for 595 million U.S. dollars. It is reported that, SG Holdings main starter and generator business.

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

Zhengzhou Coal Mining Machinery Group (ZMJ) is mainly responsible for the production of auto parts and mining machinery, and is also regarded as China's largest manufacturer of hydraulic support. In 2016, its operating revenue was about 3.6 billion yuan. On the same day, ZMJ announced on the HKEx that the M & A price was 545 million euros (about 4,098 million yuan) and will acquire not less than 86.16% interest in SG Holdings upon completion. It is learned that the transaction is expected to help SG Holdings in-depth China market.

With the help of the internal resources invested by ZMJ and Zonta, ZMJ estimates that the investment amount will not exceed 440 million Euros while the rest will be financed through external bank financing.

The Bosch Group said that after the completion of the merger, ZMZ will take over the nearly 7000 employees of its subsidiary SG and its subsidiaries and 16 locations in 14 countries. At the same time, the headquarters of the Bosch subsidiary SG in Stuttgart will be retained.

In the announcement, Zhabei Coal Machine said that the M & A transaction still needs to wait until the regulatory authorities of China, Germany and the United States approve the transaction before completing the delivery. At the Bosch Group level, the conditions of "no employee objections" need to be met.

11 Qualcomm acquired NXP Semiconductors

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

On April 4, 2017, Qualcomm and NXP jointly announced that both boards of directors have unanimously adopted QUALCOMM's offer and signed a definitive agreement to acquire NXP at a cash consideration of US $ 110 per share, at a cash consideration of approximately US $ 38 billion , Plus NXP's debt, the total transaction amount of 47 billion US dollars. From the outflow of the news just shocked the industry, in fact, shocked the word is not fierce enough, Qualcomm is the leading mobile communications chip, NXP acquired Freescale last year became the world's largest automotive semiconductor manufacturers, and automotive semiconductor solution Solutions and the market leader in Universal Microcontrollers (MCUs). From the perspective of capital market value, Qualcomm's current capital market value of 98.9 billion US dollars, NXP Semiconductors capital market value of about 35.5 billion US dollars, the future combined capital market capitalization have the opportunity to reach 150 billion US dollars.

12 Lear acquisition of Anrong Lin car seat business

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

April 28, 2017, Lear, a manufacturer of automotive seating and electrical systems, announced that it has completed the acquisition of Angthong car seat business.

With an annual sales of about 300 million euros (about 328 million U.S. dollars), Antonell has expanded its seat business to five countries in Europe and North Africa. Its business involves timely seat assembly, seat construction and equipment, seat covers , And established a good business relationship with the major European car manufacturers (including Daimler, PSA Peugeot Citroen, Renault Nissan and Volkswagen).

The deal undoubtedly increased Lear's strength in the European market. It is reported that Antong Lin acquired seat sales reached 322 million US dollars, and mainly concentrated in the five major European markets.

In addition, the rise of the U.S. dollar and the slide of the euro exchange rate also brought some opportunities to Lear's acquisition.

13 Acquisition Branch Poly Asia, the largest acquisition of LANXESS

2017 auto parts industry, large-scale investment and mergers and acquisitions inventory

In April this year, the specialty chemicals company LANXESS announced that it has successfully completed the acquisition of the world's leading flame retardant and lubricant additive supplier of the United States Branch Poly Asia, the progress was earlier than originally expected, on the 21st of the month Officially completed. Branch poly Asian