In a significant move to bolster its automotive portfolio, Mutares has announced the signing of an agreement to acquire Cikautxo Rubber & Plastic Components from CIKAUTXO S.COOP. This acquisition marks the sixth deal for Mutares in 2024 and represents a strategic step towards strengthening the SFC Group, which is part of Amaneos, as a global partner for plastic-based systems in the automotive industry.
Cikautxo China, established in 2011, specializes in the development and production of rubber and plastic components for the automotive and household appliance sectors. With a diverse product range that includes fluid-conducting, vibration-damping, and sealing components, as well as door seals and inlet and outlet bellows for washing machines, the company has cultivated long-term relationships with prominent automotive customers such as Daimler, Ford, Geely, and Volvo, as well as household appliance giants like BSH and Haier. Boasting a workforce of approximately 130 employees, Cikautxo China generated revenues of around €13 million in 2023, with significant growth potential on the horizon.
The acquisition of Cikautxo China provides SFC Group with an immediate footprint that can serve as a platform for the production of already awarded business. This strategic move aims to further expand SFC Group's manufacturing presence in Asia, enabling better support for existing customers while also exploring new market opportunities. SFC Group, known for its fluid transfer systems, lightweight fluid products, and sealing solutions for the automotive industry, is part of Amaneos, a global partner for automotive manufacturers based in Frankfurt am Main, Germany, with a network of over 30 sites worldwide.
Robin Laik, CEO of Mutares, expressed his enthusiasm for the acquisition, stating, "With the acquisition of Cikautxo, we are further strengthening our Automotive & Mobility segment in the rubber and plastic components field for the automotive and household industry. This is the first deal that we executed in China shortly after the office opening in Shanghai, and we see more opportunities here. China is one of the most interesting markets for Amaneos and SFC Group, as it is the fastest-growing automotive market next to India, and I am highly confident that we can further expand the company's market position and capitalize on the growth potential."
