Mirror Control International (Netherlands) - Oct 2007

Investors

Englefield Capital has acquired Mirror Control International (MCI), the mirror control division of Eaton Automotive, for $124m. Landsbanki provided senior debt for the transaction. The investment will allow the company to move its manufacturing facilities in Mexico and Korea, which are currently located on sites shared with Eaton Automotive. In the longer term, they plan to establish MCI as a stand-alone business and expand its operations to Asia.

Company

Founded in 1935, MCI was acquired by Eaton Automotive in 1995. Based in Montfoort, MCI has operations in Ireland, Mexico and Korea. The company holds 32% of the global motorised actuator market and 20% of the power-fold actuators. It had a turnover of $138m in 2006.

People

Jerome Mourgue d’Algue is a partner at Englefield Capital.

Advisers

Debt - Clifford Chance LLP, (Legal)Equity - Blenheim Advisors, (Other Consulting)Equity - PricewaterhouseCoopers, (Financial Due Diligence)

Sourced from: Benelux unquote" 55 (Jan 2008)

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