Automotive sector deals of interest in the three months to August - Just Auto
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Automotive sector deals of interest in the three months to August

29 Sep 2021

A round-up of selected major M&A deals in the three months to August, compiled from GlobalData's Financial Deals database. By Patrick Scott.

Automotive sector deals of interest in the three months to  August

There were 18 deals recorded involving top automotive manufacturing and supply companies in the three months to August with a number of high profile acquisition, private equity and venture financing deals.

That’s according to GlobalData’s Financial Deals database, which tracks market activity across a variety of sectors and deal types.

The deals below only include those that have been completed – so excludes rumours or those that have been agreed but not yet executed.

The figures, which cover the top automotive manufacturing and supply companies, show the market in the US to be the most active, with seven deals taking place over the last three months. That was followed by India, which saw two deals.


Below are some of the largest completed deals to have taken place in the last quarter.

Acquisitions

Renault Acquires Stake in Verkor - 28 June

Renault SA, an automobile company, has acquired a stake in Verkor, a developer of battery cells for electric vehicles (EVs). Both companies are based in France.

As part of the transaction, Renault will hold more than 20% stake in Verkor.

Benoit Lemaignan is the CEO of Verkor.

Santander UK plc and Barber Hauler Capital Advisers acted as financial advisors, while De Gaulle and Fleurance & Associes acted as legal advisor to Renault.

Faurecia Acquires designLED Products - 09 June

Faurecia SA (Faurecia), a manufacturer of automotive equipment that designs, develops and supplies seats components, has acquired designLED Products Ltd, a designer of light-emitting diode (LED) company that offers LED light tiles for commercial lighting, signage, advertising, consumer electronics, and other lighting applications.

Stuart Bain is the CEO of designLED.

Gentex Acquires The Filter Design and Core Protection Systems - 12 August

Gentex Corporation, a US-based manufacturer, marketer and supplier of optical, advanced chemical, and electronic products for the global automotive industry, has acquired The Filter Design Company Ltd, a UK-based provider of bespoke filtration solutions, company offer filtration design, manufacturing, testing, automation and consultancy and Core Protection Systems Limited, a UK-based respiratory protection specialist, supplying high quality, innovative respiratory systems to global industrial and medical markets.

Schaeffler Acquires Bega International - 03 August

Schaeffler AG, a Germany-based developer and manufacturer, and supplier of precision products, has acquired BEGA International BV, a Netherlands-based manufacturer of tools for mounting and dismounting rolling bearings.

Henk van Essen, the current CEO of Bega and will stay on in that role going forward.

Faurecia Acquires Design LED Products - 09 June

Faurecia SA, a France-based company designs, develops and supplies seats components such as frames, adjustment mechanisms, motors, padding, seat covers, electronic and pneumatic systems and accessories and foams, has acquired Design LED Products Ltd, a UK-based designer and manufacturer of light emitting diode (LED) illuminated backlights and switches.

Venture financing

ZongMu Technology Secures USD190 Million in Series D Funding - 03 June ($190m)

ZongMu Technology (Shanghai) Co., Ltd, a China-based developer of driver assistance system, two dimensional (2D) and three dimensional (3D) panoramic vision system, self parking solutions and driving recording systems, has secured USD190 million in Series D funding led by Tongchuang Weiye (leading investment) and Xiaomi Group (leading investment) , Liangjiang Fund, Jingkai Capital, Fosun Capital, Shanghai Science and Technology Venture Capital Group (Shanghai Science and Technology), Industrial Bank, Keboda, Legend Capital, Qualcomm Ventures, Denso (leading investment), Gaoyuan Capital ( Leading investment), Huzhou Taihu Lake Group, Langtai Capital, Chongqing Changxin Zhiqi.

Isar Aerospace Secures Additional USD75 Million in Series B Funding - 28 July ($75m)

Isar Aerospace, a provider to access to space for small and medium satellites, enabling global satellite constellations, has secured additional USD75 million in Series B funding from HV Capital.

In addition, Porsche Automobil Holding SE, Lombard Odier, Earlybird Venture Capital, Lakestar, Vsquared Ventures, Apeiron Investment Group and UVC Partners also participated in the funding round.

Isar Aerospace brings the total funding to USD165 million.

Daniel Metzler, Josef Fleischmann and Markus Brandl are the founders of Isar Aerospace.

Roppen Transportation (Rapido) Secures USD52 Million in Series C Venture Funding - 16 August ($52m)

Roppen Transportation Services Pvt Ltd (Rapido), an Indian-based provider of online platform that allow users to book bike taxi services, has secured USD52 million in Series C venture funding from Shell Ventures, Yamaha, Kunal Shah, Amarjit Singh Batra, and Positive Moves Consulting.

Existing investors such as Hero Group's Pawan Munjal, Westbridge, Nexus Venture, and Everblue Management also participated in this round.

Seurat Technologies Secures USD41 Million in Series B Funding - 22 June ($41m)

Seurat Technologies Inc, a US-based developer of metal printers designed for industrial scalability, has secured USD41 million in Series B funding led by Capricorn's Technology Impact Fund, DENSO, True Ventures, GM Ventures, Porsche Automobil Holding SE, Siemens Energy, and Maniv Mobility.

Sonatus Secures USD35 Million in Series A Funding - 21 July ($35m)

Sonatus, an automotive software company that is unlocking the full potential of the software-defined vehicle, has secured USD35 million in Series A funding led by Kia Corporation.

In addition, SAIC Capital, LG Electronics, Marvell, UMC Capital, Wanxiang Group Company and Translink Capital also participated in the funding round.

Jeff Chou is the co-founder and CEO of Sonatus.

Private equity

Consortium of Investors Invest USD2.5 Billion in Rivian Automotive - 23 July ($2,500m)

Consortium of Investors have invested USD2.5 billion in Rivian Automotive LLC, a US-based electric adventure vehicle manufacturer.

Consortium of investors include Climate Pledge Fund, D1 Capital Partners, Ford Motor Company, T. Rowe Price Associates, Inc, Third Point, Fidelity Management and Research Company, Dragoneer Investment Group, and Coatue.

Consortium of Investors Invest USD2.5 Billion in Waymo - 16 June ($2,500m)

Alphabet, Andreessen Horowitz, AutoNation, Canada Pension Plan Investment Board, Fidelity Management & Research Company, Magna International, Mubadala Investment Company, Perry Creek Capital, Silver Lake, funds and accounts advised by T. Rowe Price Associates, Inc., Temasek, and Tiger Global, have invested USD2.5 billion in Waymo LLC, an autonomous driving technology development company that provides mobility solutions.

Tekedra Mawakana and Dmitri Dolgov are the Co-CEO's of Waymo.

Kia and SKS Private Equity Invest USD34.8 Million in Bank Salad - 16 July ($35m)

Kia Corp and SKS Private Equity, a private equity firm, have invested KRW40,000 million (USD34.8 million) in Bank Salad Co., Ltd, a provider of data-based money management service. All entities involved in the transaction are based in South Korea.

With this investment, Bank Salad has raised KRW65 billion in total investment.