Mutares announces the signing of an agreement to acquire PRINZ Kinematics GmbH from AL-KO.

Completion of the transaction is expected in the fourth quarter of 2023.

PRINZ is one of the world’s leading automotive suppliers of kinematics systems, specializing in the development and production of hinges, mainly used in vehicle doors, tailgates and engine hoods for high-end OEM customers.

Founded in 1985, the company is headquartered in Stromberg, Germany, and also operates two large-scale production sites in Bulgaria (Ruse) and China (Shenyang).

With around 300 employees, the company generated sales of around €55 million in 2022.

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