HIG Capital sells Anvis to Japan's Tokai Rubber

HIG first acquired Anvis, which manufactures anti-vibration systems for automobile companies, in December 2010. The sale process started late 2012 when Tokai Rubber - Anvis' joint venture partner in Mexico - emerged as the favored bidder.

"This acquisition of Anvis Group is an important step forward to further strengthen Tokai's position as a global leader in the automotive anti-vibration rubber industry," said Yoshiaki Nishimura, president of Tokai, in a statement. "The combination of Tokai and Anvis Group will definitely enhance more access to both Japanese and non-Japanese OEMs (original equipment manufacturers) customers and enable us to actively respond to the needs of the global supply chain."

Tokai intends to pursue its strategic growth by leveraging Anvis Group's technology for compact to mid-sized cars, European manufacturing capabilities and strong relationship with European OEMs. Anvis' customers currently include Volkswagen, Daimler, BMW and PSA. The firm achieved annual sales of roughly EUR300 million last year with an EBITDA margin of 6-8%.

"The combination of our two enterprises of Asia and Europe signifies the birth of a truly global player, the first of its kind, in the automotive anti-vibration industry," said Olaf Hahn, CEO of Anvis Group. "It is important to maximize business synergies by pursuing a scale merit such as expansion of distribution channel and enhancement of competitiveness."

The closing of the transaction is conditional upon clearance regarding merger control filings and other conditions precedent under the share purchase agreement. Lazard organised the sale for HIG, while BNP Paribas advised Tokai Rubber.

 

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