Mann+Hummel is a leader in filtration. The family-owned German business is not a household name, but it has been providing component parts to the auto industry for more than 80 years. "For almost every part of a vehicle that requires filtration, we offer a product—air filters, oil filters, etc.," says Peter Kleine, senior manager for standards and risk management/corporate purchasing.

"Mann+Hummel is what you might call a 'hidden champion,'" he continues. "We are not widely known outside the automotive industry, but we have been very successful in the last decades, growing and staying profitable. We have a production footprint in every region of the world, with more than 20,000 employees and a turnover of almost 5 billion euros annually."

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Meg Waters

Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.