Egeria sells Mirror Controls International for €457m

The debt-free transaction, which is subject to regulatory approval, will be financed by Flextronics' balance sheet.

The deal will see the new owner incorporate MCI's actuator technology to its operations in the automotive sector.

Egeria's divestment comes almost three years after it acquired MCI from London-based firm Bregal Capital. The SBO, thought to be valued at around €170m, saw Egeria secure a majority stake in the business, according to unquote" data.

Company
Founded in 1932, MCI is a glass mirror actuator manufacturer. The company claims to have invented the electric glass actuator in 1964 and has filed 59 patents since 1997, and reached an annual production rate of 60 million actuators.

Headquartered in Woerden, the company employs 850 staff across the Netherlands, Ireland, the US, Mexico, China, Japan and South Korea. It most recently posted €200m in turnover, and claimed 20% year-on-year annual growth.

People
Mike McNamara is CEO of Flextronics. Mark van der Spek is CEO of MCI.

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