Brazilian Manufacturer Expands Globally in $725m Buy

Brazilian Manufacturer Expands Globally in $725m Buy

Brazil M&A

Brazilian commercial and light vehicle parts producer Iochpe-Maxion has agreed to acquire 100% of US-based parts producer Hayes Lemmerz International for $725m, including $23m in assumed debt. The buy is part of Iochpe-Maxion’s strategic effort to become a global supplier, a company official says, noting the company was not specifically seeking a US acquisition and could have easily made a purchase in Europe or Asia. A sector analyst says the deal came cheap, with Iochpe-Maxion paying 3.2x

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