Linamar (LNR) announced a tuck-in acquisition on Friday, adding another $200M in mobility revenue after its $300M US deal late last year.

The two German facilities acquired expand the company’s European footprint…

… and could be a sign of things to come, with management highlighting the region as an attractive source of distressed asset opportunities.

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I would particularly point you to Europe as a real key area for that distress because, again, capacitization and they probably don’t work as fast on consolidation or making decisions. So I think there’s a real catalyst over there that we continue to work on.

Jim Jarrell (CEO) - LNR Q4’25 call

They’ve got the balance sheet to keep executing M&A, with leverage sitting at nearly half of LNR’s target limit…

… and $2.1B of available liquidity. Combined with its exposure to Canadian industry support, continued execution should eventually translate to multiple expansion.

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