Cooper-Standard Automotive has signed a definitive sale and purchase agreement with Automotive Sealing Systems for the acquisition of Metzeler Automotive Profile Systems (MAPS) sealing systems operations in Germany, Italy, Poland and Belgium, including joint venture interests in India and China.

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This followed a previously announced memorandum of understanding between the parties. The transaction, valued at about EUR100m, is subject to the usual regulatory approvals and closing conditions but is expected to close in the third quarter.


Cooper-Standard’s principal shareholders, Goldman Sachs Capital Partners and The Cypress Group, will invest EUR20m of new equity in Cooper-Standard as part of the financing of the acquisition.


The MAPS operations to be acquired include eight manufacturing facilities in Europe and shares in joint ventures in India and China. The consolidated annual sales of these businesses were approximately US$400m in 2006.


Fiat, BMW, Daimler and Volkswagen Group are among the largest customers of the businesses being acquired.

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Cooper-Standard Automotive product lines include body and chassis systems and fluid handling systems.


“The addition of the MAPS businesses will strongly complement Cooper-Standard’s current business in terms of customer base and geographic footprint, with limited overlap,” the company said in a statement.


“MAPS is a leader in Europe in the development and manufacture of complete automotive weathersealing systems, and the MAPS businesses to be acquired also produce rubber compounds and sheeting products for various industries.”