Novares acquires MPC to reinforce its footprint in the U.S.

Novares has announced the acquisition of US company Miniature Precision Components (“MPC”).

The acquisition of MPC, with a turnover of $265million (approximately £206million) in 2018, nearly doubles the size of Novares’ engine business, giving it a critical size and a global reach to position itself amongst the top global powertrain parts suppliers.

Adding six manufacturing sites, five in the U.S. and one in Mexico, to the Group’s eight existing sites in the region, this transaction also consolidates Novares’ presence in North America.

MPC’s customer portfolio, which includes Ford, General Motors, FCA, Nissan and Toyota, ensures that the new Group will now supply powertrain parts to all major OEMs worldwide.

The company believes MPC’s 3D suction blow moulding and moulded foam capabilities will allow Novares to develop new products and to reinforce its expertise, workforce and innovation capability in engine product engineering.

“The acquisition of MPC, a leader in a fast-growing market, marks an important step for the development of Novares’ powertrain business, which will now have a global reach and reinforced value-added product portfolio,” said Pierre Boulet, CEO of Novares.

“It is also in line with our strategy to be an agile global partner for our customers with the ambitious goal of reaching €2billion (approximately £1.8 billion) in sales by 2020 through targeted external and internal growth operations as well as organic innovation.”