Lincoln International represents Egeria in the sale of MCi to FlextronicsEgeria, a leading Dutch private equity firm, has agreed to sell Mirror Controls International (“MCi”) to Flextronics in an all cash transaction valuing the share capital of MCi at Euro 457 million.
MCi is the global No.1 supplier of mirror glass and powerfold actuators to the automotive industry. Headquartered in Woerden, The Netherlands, MCi supplies over 60 million actuators per year - from its manufacturing plants in Ireland, China and Mexico - to all leading OEMs covering 75 vehicle brands in the premium, volume and value segments. Its unique focus on mirror actuators has allowed MCi to develop market leading engineering and innovation skills, gaining wide recognition in the automotive industry.
Mark van der Spek, CEO of MCi, said “MCi has received strong support from Egeria over the past years and we are very proud of what has been achieved. Flextronics’ strong strategic fit, global operations and supply chain expertise make it a perfect place for MCi and our employees. We are excited to join the Flextronics’ team and become a part of their innovative automotive platform and to continue and expand on the trajectory we have had at MCi historically.”
Floris Waage, Investment Director at Egeria, added "This has been a formidable investment thanks to the outstanding performance of the MCi management team. The team from Lincoln International helped us navigate through an intense and competitive sale process and played a key role in delivering a great result for Egeria and MCi."
Egeria is a fully independent Dutch private equity firm, targeting controlling stakes in mid-market companies in The Netherlands or in companies having a Dutch link. With Euro 1.7 billion under management, Egeria invests with the aim of creating long-term value for all parties involved by growing and developing the companies in close co-operation - and based on mutual respect and trust - with the management.
Flextronics International Ltd., with sales of approximately Euro 26 billion and present in more than 30 countries, is a leading end-to-end supply chain solutions company that delivers design, engineering, manufacturing and logistics services to a wide array of industries and end-markets. MCi will become part of Flextronics’ High Reliability Solutions business group, which comprises its most highly engineered product range and is home to Flextronics Automotive. MCi’s best-in-class actuation capabilities and Flextronics broad automotive platform and advanced electronics expertise will allow both companies to provide superior solutions for their automotive customers and leverage MCi’s capabilities into new industry verticals.
Lincoln International acted as exclusive M&A advisor to Egeria and the management of MCi in this transaction, which represents the 10th successful Benelux transaction and the 20th successful automotive transaction globally for Lincoln International in the last 12 months.
About Lincoln InternationalLincoln International specializes in merger and acquisition advisory services, debt advisory services, private capital raising and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions, valuations and pension advisory services on a wide range of transaction sizes. With sixteen offices in the Americas, Asia and Europe, Lincoln International has strong local knowledge and contacts in key global economies. The firm provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest.
More information about Lincoln International can be obtained at www.lincolninternational.com