Flextronics International Ltd. (Nasdaq: FLEX) is set to buy Mirror Controls International from Dutch private equity firm Egeria for $508 million.

Mirror Controls produces automotive glass and power-folding actuators that allow side mirrors to move. The Woerden, Nederland-based company had revenue of about €200 million ($223 million) over the past 12 months. It operates out of several international locations, including Plymouth, Michigan and Tamaulipas, Mexico.

The transaction, expected to close in September, is one of many we have seen in the car-parts sector recently, as car sales have ticked upwards globally. However, the trend hasn't necessarily led to revenue growth for buyers in the space. Singapore-based Flextronics, for example, recently projected sales below Wall Street views for the current quarter. For the quarter ended March 31, Flextronics revenue fell 11.5 percent to $5.95 billion.

Egeria, which typically invests up to $200 million in middle-market companies, hired Lincoln International to advise the sale process for Mirror Controls. The firm originally bought Mirror Controls from U.K.-based Bregal Capital LLP for $208 million in 2012. 

Other recent auto-related deals have come from Sage Automotive, which bought Miko Srl, as well as Gridiron Capital's acquisition of car-service company Dent Wizard, and Avis Budget Group's (Nasdaq: CAR) closing of  the $160 million purchase of Maggiore Group in April. 

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