Mutares completes acquisition of rubber parts makers in China

Munich, Germany – Private equity fund Mutares SE & Co. KGaA has completed a previously announced deal to acquire to automotive rubber parts makers in China from Korea’s Hwaseung Corp.

In a 29 Dec statement, the Munich-based holding company said it finalised the deal to purchase 67% of Hwaseung Special Rubber (Taicang) Co. Ltd (HSR) and Hwaseung Auto Parts (Taicang) Co., Ltd. (HST).

The “add-on acquisitions” will be integrated in the company's Amaneos China platform, which was founded in Taicang, China in 2023 to support automotive manufacturers.

Mutares said the acquired entities were “renowned for their indispensable rubber sealing and hose products,” serving blue-chip automotive OEMs such as GM, VW, Hyundai, Kia, and Xiaomi.

With around 600 employees across two manufacturing sites, they reported revenues of over €100 million in 2024.

Mutares said HSR and HST are a “perfect fit” for Amaneos China, offering “value-chain synergies” through integration with the Chinese subsidiaries of its other recently acquired businesses: SMA Metalltechnik GmbH and Sealings and Fluid transmission systems and Compound (SFC).

The move is expected to enable 'cost optimisation, operational improvements, and a stronger competitive position' in what Mutares called “the world’s most dynamic automotive market.”