M&A Deal Summary

Flex Acquires Mirror Controls International B.V.

On April 29, 2015, Flex Ltd. acquired automotive company Mirror Controls International B.V. from Egeria for 494M USD

Acquisition Highlights
  • This is Flex’s 1st transaction in the Automotive sector.
  • This is Flex’s 2nd largest (disclosed) transaction.
  • This is Flex’s 1st transaction in the Netherlands.

M&A Deal Summary

Date 2015-04-29
Target Mirror Controls International B.V.
Sector Automotive
Buyer(s) Flex Ltd.
Sellers(s) Egeria
Deal Type Add-on Acquisition
Deal Value 494M USD

Target

Mirror Controls International B.V.

Woerden, Netherlands
website
Mirror Controls International B.V. is a provider of motorised actuators for exterior automotive mirror systems. The company is a Tier 2 component specialist, supplying to the global mirror system suppliers from manufacturing operations in Ireland, Mexico and China.

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Buyer(S) 1

Buyer

Flex Ltd.

Singapore, Singapore

website


Category Company
Founded 1990
SectorSemiconductors
Employees200,000
Revenue 24.4B USD (2016)
DESCRIPTION
Flextronics facility in Fremont, California.
Flextronics facility in Fremont, California.

Flex Ltd. is a Sketch-to-Scale™ solutions provider that designs, manufactures and distributes intelligent products for a connected world. Flex provides innovative design, engineering, manufacturing, real-time supply chain insight and logistics services to companies of all sizes in various industries and end-markets.


DEAL STATS #
Overall 8 of 12
Sector (Automotive) 1 of 2
Type (Add-on Acquisition) 8 of 12
Country (Netherlands) 1 of 1
Year (2015) 1 of 3
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-04 RIWISA AG

Hagglingen, Switzerland

RIWISA AG provides plastic processing in Switzerland. The company initially made a name for itself with processing of buttons and lavatory-lids made out of thermosetting plastic (Duroplast) and later on with the production of thermoplastic material.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-08 NEXTracker, Inc.

Fremont, California, United States

NEXTracker, Inc. is a designer and builder of single-axis PV trackers.

Buy $330M

Seller(S) 1

SELLER

Egeria

Amsterdam, Netherlands

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 1.7B EUR
SizeLarge
Type Sector Agnostic
DESCRIPTION
Egeria's office in Amsterdam.
Egeria's office in Amsterdam.

Egeria is a Dutch private equity firm that seeks controlling stakes in middle-market companies located in The Netherlands, or having a local connection. Egeria looks for companies with stable cash flows, experienced management, and strong growth potential. Egeria is sector agnostic, however, the firm will not consider investing in biotech, software, or 'non-ethical' sectors. Target companies are generally valued between €50 and €350 million. Egeria was formed in 1997 and is based in Amsterdam.


DEAL STATS #
Overall 11 of 20
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 5 of 10
Country (Netherlands) 9 of 16
Year (2015) 2 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-27 United Dutch Breweries B.V.

Breda, Netherlands

United Dutch Breweries B.V. is a supplier of specialty beers, such as non-alcoholic beers, stout beers and dark malt beverages.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-05 N.V. Nationale Borg-Maatschappij

Amsterdam, Netherlands

N.V. Nationale Borg-Maatschappij is a provider of insurance services.

Sell €154M