AEQUITA acquired together with its strategic partner PRETTL the automotive supplier Toyoda Gosei Meteor GmbH (Meteor), the German subsidiary of Japanese Toyoda Gosei Co., Ltd. The acquisition consists of the German sites of Meteor in Bockenem and Worbis including its 1,200 employees as well as Meteor’s U.S. subsidiary Meteor Sealing Systems LLC based in Dover, Ohio, with its 350 employees. The company generates approx. EUR 130m in revenues supplying almost all European premium and luxury OEMs.
Meteor produces highly specialized seals and sealing systems for the automotive and non-automotive industry using elastomer compounds, including rubber. Areas of application are cars, rail and air transport, construction as well as electrical and home appliances, providing safety, functionality and comfort for this diverse range of applications.
“Based on the joint experience in turnaround management and automotive supply, Meteor Group has found new owners whose expertise makes it the right partner to lead the company into a sustainably bright future,” Naoki Miyazaki, President of Toyoda Gosei, said. “We are convinced that this investor group will advance Meteor.” According to Miyazaki, the main reason for selling Meteor was rooted in Toyoda Gosei’s strategic reorientation aimed at focusing its activities on other growing markets.
„We are looking forward to working together with Meteor‘s employees in Germany and the USA“ Dr. Axel Geuer, Founder and Chairman of the Management Board of AEQUITA, said. “We want to let Meteor’s business grow again. The company has an excellent research and development department. Our objective is to expand its technological leadership in the area of highly complex sealing systems,” Dr. Geuer explained. He sees great opportunities for attaining this goal in both the automotive and non-automotive sectors.
About Toyoda Gosei
Toyoda Gosei is a global Japanese supplier of high-quality automotive components and LEDs. The company was spun off from Toyota Motor in 1949. Toyoda Gosei is listed at the stock exchanges in Tokyo and Nagoya and its c. 40,000 employees generated a global revenue of approx. EUR 7.1 bn in the last fiscal year. Toyoda Gosei acquired Meteor in 2014.
AEQUITA is a Munich-based family office investing in special situations including corporate carve-outs, successions, and recovery situations across Europe. With a strong capital base, entrepreneurial expertise and a partnership approach, the team focuses on the acquisition and long-term value enhancement of companies that can benefit from an operational engagement. AEQUITA brings a fresh and sound view to all areas of the business, such as sales development, production optimization and efficiency measures, which can help management to drive sustainable growth. AEQUITA contributes not only the capital, but also the vision, inspiration and operational impetus needed to reach the next stage in the development of its companies and their success stories.