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 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
  • ~2,000 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