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India’s Motherson Sumi Acquires Interiors Supplier Reydel
Motherson Sumi Systems Ltd. has completed its $201 million acquisition of French-based auto interiors supplier Reydel Automotive Group.
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Motherson Sumi Systems Ltd. has completed its $201 million acquisition of French-based auto interiors supplier Reydel Automotive Group.
The deal brings MSSL close to its goal of achieving annual revenue of $18 billion by 2020, but with no customer, component or country contributing more than 15% of the total.
Reydel, now called Samvardhana Motherson Reydel Companies, had been owned by privately held portfolio manager Cerberus Capital Management LP. The supplier makes cockpit modules, instrument panels, door trim and consoles.
Reydel’s revenue and profit last year reached $1 billion and $68 million, respectively. The company operates 16 manufacturing facilities and eight technical centers in Europe, Asia and South America. Customers include BMW, Ford, General Motors, Honda, Hyundai, Mahindra, Mitsubishi, Nissan, PSA, Renault, Smart, Tata Motors, Volkswagen Group and Volvo.
Motherson’s automotive business has been expanding globally through 20 prior acquisitions over the past decade. The company is India’s largest auto parts conglomerate with 370 companies and 25 joint ventures in 37 countries.
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