Lear Corporation

Lear Corporation

Lear Corporation

Overview
Date Founded

1987

Headquarters

21557 Telegraph Road, Southfield, MI, 48033, USA

Type of Company

Public

Employees (Worldwide)

175K

Industries

Auto Parts & Tires
Other Business & Consulting Services
Industrial Machinery & Manufacturing
Automobiles

Company Description

Lear Corp. engages in the design, manufacture and supply of automotive seat, electrical distribution systems and electronic modules, as well as related sub-systems, components, and software. It operates through the following segments: Seating and E-Systems. The Seating segment consists of the design, engineering, just-in-time assembly and delivery of complete seat systems, as well as the manufacture of all major seat components, including seat covers and surface materials such as leather and fabric, seat structures and mechanisms, seat foam and headrests. The E-System segment consists of the design, development, engineering and manufacture of electrical distribution systems, as well as electronic control modules, electrification products, connectivity products and software solutions for the cloud, vehicles and mobile devices. The company was founded in 1917 and is headquartered in Southfield, MI.

Contact Data
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Executives & Employees

Director, President & Chief Executive Officer

Senior Vice President & Chief Financial Officer

Senior Vice President, General Counsel, Corporate Secretary & ESG Lead

Chief Technology Officer

Vice President & Chief Accounting Officer

Chief Diversity Officer

Senior Vice President & Chief Administrative Officer

Executive Vice President & President-Seating

Vice President & Treasurer

In-House Counsel

Board of Directors

Principal at Greg C. Smith LLC

Chief Executive Officer at Leidos Holdings, Inc.

Fiduciary Director at Indiana University Foundation

Treasurer & Director at Easter Seals Central Illinois

Chairman & Chief Executive Officer at Openwater

Executive Vice President & Chief Human Resources Officer at UnitedHealth Group, Inc.

Founder at Current Capital LLC

Director, President & Chief Executive Officer at Lear Corporation

Deputy Mayor at Detroit, MI, Office of the Mayor, Mike Duggan

Former Vice President & Controller at Chrysler Financial Corp.

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Lear Corporation
Owners & Shareholders
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Pzena Investment Management is a global investment management firm that employs a classic value investment approach. The firm began managing assets on January 1, 1996. Our solid return record and reputation for business integrity, research excellence, and devotion to our investment philosophy has led to significant growth in our business. As of February 28, 2013, the firm managed $18.9 billion in assets for leading corporate, public, and individual clients. Our team is made up of 69 employees. Our headquarters is in New York City, with a representative office in Melbourne, Australia.

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Harris uses a value investment philosophy in selecting equity and equity-like securities of US and non-US issuers. The firm's investment philosophy spans across large, mid and small cap companies. In addition, Harris may hedge a client’s exposure to direct or indirect foreign currencies. In constructing portfolios for their clients, the firm seeks out companies that they believe are trading in the market at significant discounts to their underlying value. Harris believes purchasing businesses at a discount to intrinsic value minimizes risk while providing substantial profit potential. The firm uses a bottom-up approach focused on individual companies, rather than focusing on specific economic factors or industries. Harris generates their research ideas from a variety of internal and external sources. The firm’s research process seeks to identify companies selling at a discount to its estimate of intrinsic value.

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Lord Abbett manages equity, fixed-income, and multi-asset class portfolios across a wide range of investment strategies. Portfolio management teams employ a rigorous investment approach and the firm’s investment processes are supported by a strong internal focus on fundamental and quantitative research. Lord Abbett manages a wide range of equity investment products, including growth, core, and value oriented products. They manage both domestic and international equity strategies. The firm invests in fixed-income instruments across the spectrum of duration (from money market and short duration to intermediate to long bond) and credit (from investment grade to high yield and distressed) in both the taxable and tax-exempt marketplaces.

Recent Transactions
Details Hidden

Lear Corporation purchases Xevo, Inc. from Intel Capital Corp., MMV Financial, Inc., Shaw Ventures, Inc., SPARX Group Co., Ltd. /Venture Capital

Details Hidden

Lear Corporation purchases EXO Technologies Ltd.

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Lear Corporation purchases Grupo Antolín-Irausa SA /Automotive Seating Bus from Grupo Antolín-Irausa SA

Transaction Advisors
Accountant

Advised onLear Corporation purchases Dunlop Cox Ltd. from BTR Plc

Legal Advisor

Advised onLear Corporation purchases Worldwide Seating Business from General Motors Corporation

Investment Advisor

Advised onFranklin Mutual Advisers LLC, W.L. Ross & Co. LLC, IAC Group LLC purchase Lear Corp. /North American Interior Design Systems from Lear Corporation

Legal Advisor

Advised onFranklin Mutual Advisers LLC, W.L. Ross & Co. LLC, IAC Group LLC purchase Lear Corp. /North American Interior Design Systems from Lear Corporation

Legal Advisor

Advised onFranklin Mutual Advisers LLC, W.L. Ross & Co. LLC, IAC Group LLC purchase Lear Corp. /North American Interior Design Systems from Lear Corporation

Legal Advisor

Advised onFranklin Mutual Advisers LLC, W.L. Ross & Co. LLC, IAC Group LLC purchase Lear Corp. /North American Interior Design Systems from Lear Corporation

Advisors & Consultants
Advisor

Counsel at Michigan Thanksgiving Parade Foundation

Legal Advisor

Partner at Winston & Strawn LLP

Advisor

Former Global Head-Financial Restructuring Group at Wasserstein Perella & Co., Inc.

Clients

General Motors Co. engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc. The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial. The company sells vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Wuling, Maven, and OnStar brands. General Motors was founded by William C. Durant on September 16, 1908 and is headquartered in Detroit, MI.

Ford Motor Co. engages in the manufacture, distribution, and sale of automobiles. It operates through the following three segments: Automotive, Mobility, and Ford Credit. The Automotive segment engages in developing, manufacturing, marketing and servicing of Ford cars, Lincoln vehicles. The Mobility segment includes Ford Smart Mobility LLC and autonomous vehicles business. The Ford Credit segment comprises Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities. The company was founded by Henry Ford on June 16, 1903 and is headquartered in Dearborn, MI.

Volkswagen AG engages in the production and sale of passenger cars and light commercial vehicles. The firm also develops vehicles and components for the brands of the group. It operates through following segments: Passenger Cars, Commercial Vehicles, Power Engineering, and Financial Services. The Passenger Cars segment covers the development of vehicles and engines; production and sale of passenger cars and light commercial vehicles; and the corresponding genuine parts business. The Commercial Vehicles segment covers the development, production, and sale of light commercial vehicles, trucks, and buses; and the corresponding genuine parts business and related services. The Power Engineering segment deals with the development and production of large-bore diesel engines, turbo compressors, industrial turbine,s and chemical reactor systems; and the production of gear units, propulsion component,s and testing systems. The Financial Services segment involves dealer and customer financing, leasing, banking, insurance, fleet management services. The company was founded on May 28, 1937 and is headquartered in Wolfsburg, Germany.

Key Stats and Financials As of 2020
Market Capitalization
$9.97B
Total Enterprise Value
$11.3B
Earnings Per Share
$2.62
Revenue
$17B
Net Profit
$158M
EBITDA
$1.14B
EBITDAMargin
6.71%
Total Debt
$2.87B
Total Equity
$4.61B
Enterprise Value / Sales
0.66x
Enterprise Value EBITDAOperating
9.4x
TEVNet Income
71.33x
Debt TEV
0.25x
Three Year Compounded Annual Growth Rate Of Revenue
-5.92%
Non-Profit Donations & Grants
$10K - $20K
2018
$100K - $250K
2018
Investments
Details Hidden

CelLink Corp. develops flexible conductive backplane that provides module manufacturers with efficiency gains and a reduction in manufacturing cost per watt. The company was founded by Kevin Coakley and is headquartered in Belmont, CA.

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Silk Therapeutics, Inc. provides silk protein solutions for human health. It sells its products through its online store. The firm’s PureProC, a film formulation that protects, stabilizes and delivers the use of vitamin C for duration with anti-aging and skin health benefits. The company was founded Gregory H. Altman and Rebecca Horan in June 2013 and is headquartered in Medford, MA.

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The NanoSteel Co., Inc. provides nano-structured steel material designs. Its products include sheet steel, additive manufacturing, BLDRmetal for bed fusion, 3D printing alloy design, welding with NXG 1200, engineered powders, foil and metallic coatings. The firm serves the automotive, ground transportation, tooling, oil and gas, mining, cement, concrete and power industries. The company was founded in 2002 by Daniel James Branagan and Joseph E. Buffa is headquartered in Providence, RI.

Suppliers
Suprajit Engineering Ltd. Auto Parts & Tires | Bangalore, India

Suprajit Engineering Ltd. engages in the manufacture and sale of automotive and other components. Its product portfolio includes motion control solutions, headlamps & lighting, vehicle clusters, and independent aftermarket products. The company was founded on May 24, 1985 and is headquartered in Bangalore, India.

Financial Engines, Inc. Accounting & Financial Services | Sunnyvale, CA

Financial Engines, Inc. engages in the provision of technology-enabled financial advisory services. It also offers discretionary portfolio management, personalized investment advice, financial and retirement income planning, and financial education and guidance. The company was founded by William F. Sharpe, Joseph A. Grundfest, and Craig W. Johnson in 1996 and is headquartered in Sunnyvale, CA.

Gentherm, Inc. Automobiles | Northville, MI

As a leader in thermal technology, we design, develop, and manufacture heating, cooling, and ventilating devices for diverse global markets. We expect that our proprietary thermal technologies will be used to create the next generation of thermal comfort and energy efficient products. With an emphasis on innovation, we are inventing, improving, and applying thermal technologies for emerging markets and applications. Our broad patent portfolio leverages the advances we have made in all areas of thermal comfort and management, and our world-class team of scientists and engineers are dedicated to the continuous advancement of thermoelectrics for heating, cooling, and power generation. We are recognized by our largest automotive industry customers as a dependable and outstanding supplier of heated seating, climate seating, electronics, and cables. We successfully incorporate lean processes on a global scale, enabling us to provide value now and continual improvement for the future. We have locations in 11 countries, and we have more than 5,000 employees worldwide. Our development, production, and customer service locations are within close proximity to our customers so that we can offer an exceptional experience.

Competitors
Koch Industries, Inc. Chemicals - Wichita, KS

Koch Industries, Inc. began as Wood River Oil and Refining Co. in 1940. The company is based in Wichita, Kansas and is one of the largest private companies in America. Its major industries include refining, chemicals & biofuels, process & pollution control equipment and technologies, minerals, fertilizers, polymers & fibers, commodity trading & service, forest & consumer products, and ranching.Koch companies have supported education and social progress. These philanthropic efforts include support for educational institutions, foundations and programs that study and promote market-based solutions to societal challenge. Koch also works to protect, conserve and enhance natural resources; Koch companies around the world have earned awards for safety, environmental excellence, community stewardship, innovation and customer service since January 2009.

Aptiv Plc Auto Parts & Tires - Gillingham, United Kingdom

Aptiv Plc engages in the design, development, and manufacture of vehicle components. The firm also provides electrical, electronic, and safety technology solutions to the global automotive and commercial vehicle markets. It operates through the following business segments: Signal and Power Solutions, Advanced Safety and User Experience, and Eliminations and Other. The Signal and Power Solutions segment includes complete electrical architecture and component products. The Advanced Safety and User Experience segment covers component and systems integration in connectivity and security solutions, as well as advanced software development and autonomous driving technologies. The Eliminations and Other segment comprises of elimination of inter-segment transactions, other expenses, and income of a non-operating or strategic nature. The company was founded in 1994 and is headquartered in Dublin, Ireland.

Magna International, Inc. Auto Parts & Tires - Aurora, Canada

We are the most diversified automotive supplier in the world. We design, develop and manufacture automotive systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers (OEMs) of cars and light trucks in our three geographic segments - North America, Europe, and Rest of World (primarily Asia, South America and Africa). Our capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; metal body & chassis systems; mirror systems; exterior systems; roof systems; electronic systems; powertrain systems as well as complete vehicle engineering and assembly. We have 313 manufacturing operations and 88 product development, engineering and sales centres in 29 countries on five continents as of Q4 2012

Awards & Honors
Rank #154
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #154
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine
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