Meteor
Meteor is a world-class, multinational manufacturer of special, high-performance sealing systems for a broad product portfolio of automotive and industrial applications. Founded in 1951 in Bockenem, Germany, the company started out as a foam rubber factory.
The company has grown immensely and established locations all over the world to accommodate its diverse customer base. Through constant evolution and growth, Meteor has become a one-stop shop offering a complete value chain for the development and manufacturing of premium sealing systems. Known for its high-quality automotive door seals, Meteor is proud to boast some of the most recognizable auto manufacturers in the world as its customers, such as Audi, Bentley, BMW, Ferrari, Maserati, Mercedes-Benz, Porsche and Volkswagen.
The company has grown immensely and established locations all over the world to accommodate its diverse customer base. Through constant evolution and growth, Meteor has become a one-stop shop offering a complete value chain for the development and manufacturing of premium sealing systems. Known for its high-quality automotive door seals, Meteor is proud to boast some of the most recognizable auto manufacturers in the world as its customers, such as Audi, Bentley, BMW, Ferrari, Maserati, Mercedes-Benz, Porsche and Volkswagen.
The challenge
We found a company that was highly underinvested. The production technology was inefficient and uncompetitive.
Our approach
By implementing new management across all functions, we streamlined the German organization and relocated more than 500 full-time employees from Germany to Romania. Major investments in the production facilities yielded quality and efficiency improvements.
Our Impact
Strengthening the business in the industrial sector, optimizing the manufacturing footprint of the existing operations and implementing a strong focus on realizing profitable business in a forward-looking organization.
Highlights
Diversifying the product portfolio in applications for the industrial sector and increasing the existing customer base, plus the acquisition of two companies in Germany and in the USA. Establishment of the compounding business unit with its own go-to-market strategy. Development of new patents and various new product developments.
KEY FACTS
- ~EUR 200 m in revenue
- ~1,800 employees
- 6 Sites
- Seller: Toyoda Gosei
Our Influence
40%
EBITDA improvement
800
FTE ramp-up at the new site in just two years
2020
Founding of a new BCC site
»With Meteor we have successfully repositioned a renowned developer and manufacturer of seals in the premium segment on an international scale. The cornerstones of the transformation were, on one hand, the expansion of the automotive business, including in the industrial sector, through organic and inorganic profitable growth, and on the other hand, the establishment of best-cost locations while simultaneously securing the headquarters in Germany.«
Christopher Babel
Director
Project team
