M&A Deal Summary

MAGNA Acquires New Venture Gear

On May 17, 2004, MAGNA acquired automotive company New Venture Gear from Daimler for 435M USD

Acquisition Highlights
  • This is MAGNA’s 1st transaction in the Automotive sector.
  • This is MAGNA’s 3rd largest (disclosed) transaction.
  • This is MAGNA’s 1st transaction in the United States.
  • This is MAGNA’s 1st transaction in Michigan.

M&A Deal Summary
Date 2004-05-17
Target New Venture Gear
Sector Automotive
Buyer(s) MAGNA
Sellers(s) Daimler
Deal Type Divestiture
Deal Value 435M USD

Target

New Venture Gear

Troy, Michigan, United States
NVG is a supplier of transfer cases and other drivetrain products in North America.

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Buyer(S) 1

Buyer

MAGNA

Aurora, Ontario, Canada
Category Company
Founded 1957
Sector Automotive
Employees179,000
Revenue 42.8B USD (2023)
DESCRIPTION
MAGNA's headquarters in Aurora, Ontario.
MAGNA's headquarters in Aurora, Ontario.

MAGNA is a diversified automotive supplier. Magna designs, develops and manufactures automotive systems, assemblies, modules and components, as well as engineers and assembles complete vehicles, primarily for sale to original equipment manufacturers (OEMs) of cars and light trucks. Magna was formed in 1957 and is based in Aurora, Ontario. MAGNA was founded in 1957 and is based in Aurora, Ontario.

DEAL STATS #
Overall 1 of 21
Sector (Automotive) 1 of 15
Type (Divestiture) 1 of 7
State (Michigan) 1 of 2
Country (United States) 1 of 3
Year (2004) 1 of 1
Size (of disclosed) 3 of 5
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-01 CTS Fahrzeug-Dachsysteme

Hamburg, Germany

CTS Fahrzeug-Dachsysteme GmbH is a manufacturer of roof systems for the automotive industry. CTS has six facilities in Europe and two facilities in North America, with approximately 1,100 employees.

Buy €170M

Seller(S) 1

SELLER

Daimler

Stuttgart, Germany
Category Company
Founded 1886
Sector Automotive
Employees289,643
Revenue 50.9B EUR (2022)
DESCRIPTION

Daimler with its businesses Mercedes-Benz Cars, Daimler Trucks, Daimler Financial Services, Mercedes-Benz Vans and Daimler Buses, is a global producer of passenger cars and heavy-and medium-duty trucks and buses. Daimler was founded in 1886 and is based in Stuttgart, Germany.

DEAL STATS #
Overall 2 of 7
Sector (Automotive) 1 of 3
Type (Divestiture) 2 of 5
State (Michigan) 1 of 2
Country (United States) 1 of 3
Year (2004) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-11-21 MTU Aero Engines

Munich, Germany

MTU Aero Engines is a manufacturer and maintenance services for civil and military aero engines and industrial gas turbines. MTU Aero Engines was founded in 1913 and is based in Munich, Germany.

Sell €1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-01 Rolls-Royce Power Systems AG

Friedrichshafen, Germany

Rolls-Royce Power Systems AG is a supplier of off-highway diesel engines and complete drive systems for ships, heavy land and rail vehicles, industrial applications and decentralized power generation plants.

Sell -
Mergr

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