M&A Deal Summary

Lear Acquires M&N Plastics

On March 25, 2021, Lear acquired plastics company M&N Plastics

Acquisition Highlights
  • This is Lear’s 1st transaction in the Plastics sector.
  • This is Lear’s 11th transaction in the United States.
  • This is Lear’s 4th transaction in Michigan.

M&A Deal Summary
Date 2021-03-25
Target M&N Plastics
Sector Plastics
Buyer(s) Lear
Deal Type Add-on Acquisition

Target

M&N Plastics

Sterling Heights, Michigan, United States
M&N Plastics is an injection molding specialist and manufacturer of engineered plastic components for automotive electrical distribution applications. M&N Plastics was founded in 1977 and is based in Sterling Heights, Michigan.

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Buyer(S) 1

Buyer

Lear

Southfield, Michigan, United States
Category Company
Founded 1917
Sector Automotive
Employees186,600
Revenue 23.5B USD (2023)
DESCRIPTION
Lear Corp's corporate headquarters in Southfield, Michigan.
Lear Corp's corporate headquarters in Southfield, Michigan.

Lear is a Tier 1 supplier to the global automotive industry. The Company's business spans all major automotive markets, and Lear supplies its products to every major automotive manufacturer in the world. Lear organizes its business in two global product segments including seating and electrical power management systems. The seating segment includes seat systems and related components, such as seat structures and mechanisms, seat covers, headrests and seat foam. The electrical segment includes electrical distribution systems that route electrical signals and manage electrical power within a vehicle for both traditional powertrain vehicles, as well as for hybrid and electric vehicles. Lear was formed in 1917 and is based in Southfield, Michigan.

DEAL STATS #
Overall 18 of 23
Sector (Plastics) 1 of 1
Type (Add-on Acquisition) 13 of 17
State (Michigan) 4 of 5
Country (United States) 11 of 12
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-02 Xevo

Bellevue, Washington, United States

Xevo, Inc. is an automotive software supplier, providing solutions for cloud, car, and mobile devices leverage computer vision, machine learning, and data analytics to continuously create, test, and deploy new AI models to improve performance, safety, and driver experiences.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-28 Kongsberg Automotive - Interior Comfort Systems Business Unit

Kongsberg, Norway

Kongsberg Automotive's ICS business unit specializes in comfort seating solutions, with a leadership position in seating product areas experiencing growth within the auto industry massage, lumbar, seat heat, and ventilation.

Buy €175M
Mergr

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