Sogefi (CIR group) completed the acquisition of the French automotive components group Mark IV Systèmes Moteurs from its American holding company Mark IV, LLC. The deal was concluded on the basis of an enterprise value of the Mark IV Systèmes Moteurs group of approximately 150 million euro.

Thanks to this deal, Sogefi has gained an important opportunity to grow internationally and to integrate its technology. Sogefi will consolidate its presence in the international markets, mainly North America and will extend its customer base worldwide. Thanks to the broader and more integrated range of solutions of air intake, engine cooling and ducts systems Sogefi will boost its position in this demanding market. By such means Sogefi group is expected to reach total pro-forma revenues for the year 2011 of around 1.3 billion euro.

– “With the acquisition of Mark IV Systèmes Moteurs – commented Rodolfo De Benedetti, Chief Executive of the CIR group and Chairman of Sogefi - Sogefi has gained an important opportunity to grow internationally and integrate its technology, in demonstration of how it has strengthened its competitive position after the recent crisis in the sector. Sogefi, a world leader in its businesses with over 90% of its revenues generated abroad, is an Italian company which is meeting the challenge of global competition very successfully. This deal continues a thirty-year history of technological development, operational efficiency and expansion into new markets. We will continue to follow this route strongly in the future.” – added De Benedetti.

– “The agreement will enable us to reach an objective in terms of competitive positioning that is fundamental for Sogefi’s future development prospects: Mark IV Systèmes Moteurs has a product range that is a perfect complement in products, customers and processes to our own. This acquisition will enable us to complete our range of solutions and to present ourselves to car manufacturers as a supplier of integrated engine systems.” – states Emanuele Bosio, Chief Executive of Sogefi.

– “The acquisition of Mark IV is a key step for Sogefi in building an integrated product offer, with a more advanced service for car makers. It will give positive implications also to the aftermarket division”. – said Mr Andrea Taschini, Sogefi Aftermarket Division General Manager.

Mark IV Systèmes Moteurs is one of the largest producers of air intake and engine cooling systems in the world with revenues of around 250 million euro in 2010 and approximately 1,020 employees. Supplier to the main world car manufacturers, the group has eight production plants (three of which are in France while the others are in Canada, Mexico, Romania, China and India), two research, development and innovation centers (in France and the United States) and is currently building a new production site in China. The parent company of the group Mark IV Systèmes Moteurs SA has its headquarters in Orbey, France. Mark IV Systèmes Moteurs generates around 78% of its revenues in Europe, has an increasing share of the market in North America and has started expanding in strong-growth countries such as China and India.