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Novares acquired a minority stake in FlexEnable
MP Corporate Finance acted as the exclusive financial advisor to Novares Group in the acquisition of a minority stake in Flexenable, a world leader in Organic Thin Film Transistor (OTFT) plastic electronics (plastronics).
Novares is one of the world’s leading automotive plastics suppliers for engine, interior and body parts serving OEMs on a global scale with innovative solutions and superior quality products. The Group is present with 42 plants in virtually all relevant automotive hot spots and generates sales of around € 1.2 billion. In February this year, Novares created dedicated Venture Capital Corporation to support new businesses and start-ups with technical expertise in fields adding value to Novares’ products, such as plastronics and mechatronics.
FlexEnable Ltd is a pioneer in OTFT plastronics and the only company to have successfully industrialized flexible OTFT technology with more than 600 related patents. The investment is the first step in an exciting partnership to develop innovative glass-free flexible electronic displays and sensors or “smart surfaces” for automotive applications. It will combine Novares’ expertise in designing and manufacturing automotive parts with FlexEnable’s bendable, wrappable, glass-free plastic electronics technology.
The flexibility provided by this technology, together with Novares’ integration know-how, can give automotive designers a much larger variety of shapes to work with, and replace the present flat screens that are not ideally suited to the current shapes of cars’ interior.
MP Corporate Finance executed a tailored M&A process for this highly compelling strategic alliance based on its deep industry knowledge and extensive transaction experience in the global automotive industry.
Novares Group acquired a minority stake in FlexEnable
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