Grupo Manuel Champalimaud aims to strengthen its automotive plastics market position through the acquisition of Novares' decorative plastics business, pending regulatory approval.
Information on the Target
The decorative plastics and interface parts business, which includes infotainment systems, instrument clusters, and climate control components, is currently under review by the Portuguese Competition Authority. This strategic acquisition aims to enhance Grupo Manuel Champalimaud's position in the automotive plastics market, where it operates through its subsidiary GLN. By bolstering its technological capacity, innovation, and production capabilities, the Group seeks to solidify its standing in this competitive sector.
GLN, headquartered in Leiria, Portugal, operates manufacturing facilities in both Leiria and Mexico. The company is recognized for its excellence in the development and production of high-precision technical molds and the injection of plastic parts. It is currently expanding its production capacity in Mexico, further enhancing its role as a key player in the European market.
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Industry Overview in Portugal
The automotive industry in Portugal has seen robust growth over recent years, becoming a significant pillar of the national economy. The country has attracted considerable foreign investment, establishing itself as a strategi
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Grupo Manuel Champalimaud
invested in
Novares
in 2022
in a Other Private Equity deal
Disclosed details
Revenue: $54M