Johnson Electric to acquire AML for €65 million

AML is a supplier of active modules for vehicle headlamp systems. Under the terms of the offer Johnson Electric would acquire the entire share capital of AML Développement for EUR 65 million in cash. AML, headquartered in Le Bourget, France, had consolidated revenues for the year ended 30 June 2015 of EUR 99.6 million. Employing approximately 500 individuals, AML operates two production facilities, one in France and one in China. AML has an R&D team of 60 employees located in France and in China serving automotive suppliers worldwide. Since its spin-off from Valeo Group in 2010, AML has been under majority ownership by Syntegra Capital, a private equity firm. Dr. Patrick Wang, Johnson Electric's Chairman and Chief Executive, commented, "AML's headlamp product offering will complete Johnson Electric's product portfolio in the segment. With AML's know-how and over 20 years of experience in headlamp actuation, the combined business will be able to offer solutions that improve visibility and enhance safety of drivers and other road users."