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Archives

Motherson Sumi may acquire 3 more cos in six month

11/05/2018 | Author: Autoguide | 0 Comments Back To Home   < Previous News   |   Next news >

Mr VC Sehgal, Chairman of SMG

Samvardhana Motherson Group (SMG)’s flagship company Motherson Sumi Systems (MSSL) is in an advanced stage of sealing at least three more acquisitions in the next five to six months, two people familiar with the development were quoted as saying in media reports. 
 
These acquisitions will be in addition to the recently announced deal of Reydel Automotive, a supplier of interior parts. 
 
The company, which has grown inorganically through a slew of acquisitions, is two years away from achieving its $18 billion annual revenue target. 
 
According to media reports, one of the sources said MSSL is in advanced talks for acquisition of a European company which has filed multiple bankruptcies. The value of the acquisition could be in the range of $500 million,” added the source.
 
The second company under consideration is in Japan which will be in the range of $50 million-$80 million. The third target acquisition is in the US, and the valuation could be between $200 million and $250 million.
 
“We are always on the lookout for such opportunities and we have a number of companies under consideration,” said Mr VC Sehgal, Chairman of SMG. He, however, declined to divulge further details. 
 
Mr Sehgal said the company’s vision is to be a solution provider and to achieve that, it is fully committed.
“However our first priority is to do it by ourselves or explore a joint venture, and if the two options don’t work out, then only we opt for acquisitions,” he said. 
 
Sehgal believes that growing through acquisitions is the toughest act despite having successfully led 20 acquisitions for his company. 
 
In 2015, Motherson Sumi had set a revenue target of $18 billion by 2020, from $5.5 billion in 2015. While releasing the fourth five-year plan in 2015, the company had said that it hopes to achieve 65 per cent the target revenues through existing businesses and the rest through the acquisition route. The company has exceeded its last three five-year plans’ revenue targets. 
 
SMG has made enviable growth over the past two decades with over 370 companies spread across 230 locations in 37 countries with over 25 joint venture partners and over 1.5 lakh people working for it globally.
It had achieved over $11 billion of annual revenue in the recently concluded financial year. 
 

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