M&A Activity • Apr 21, 2022
M&A Activity
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Munich, 21 April 2022 – A vehicle owned and managed by Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire Siemens Energy Engines S.A.U. and related assets ("Siemens Energy Engines") from Siemens Energy S.A. This acquisition will strengthen the Engineering & Technology segment as a new platform investment. The closing of the transaction is expected by the end of the third quarter of 2022 and is subject to fulfilment of customary conditions and approvals.
Siemens Energy Engines is a manufacturer of gas and diesel engines designed for power generation, cogeneration, waste-to-energy and marine uses. The engine business is headquartered in the Basque Country, Spain and employs around 270 people worldwide offering a best-in-class product portfolio with two complementary engine platforms, serving customers all over the world. With a highly international customer base, the company delivers niche customised solutions and is well positioned to benefit from trends such as localization, decarbonisation and decentralisation of the oil and gas as well as the energy market.
"It is an honour to acquire this remarkable company and products in the energy, power generation and industrial applications sectors. The shift to reduce greenhouse gas emissions will increase the need for flexible power generation and we see Siemens Energy Engines with a few operational and strategic improvements well positioned to profit from this movement," comments Johannes Laumann, CIO of Mutares.
Mutares SE & Co. KGaA, Munich (www.mutares.de), as a listed private equity holding company with offices in Munich (HQ), Amsterdam, Frankfurt, Helsinki, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires medium-sized companies in special situations, based in Europe, which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. Mutares actively supports and develops the portfolio companies with its own investment and operations teams as well as through acquisitions of strategic add-ons. With a focus on sustainable growth of the portfolio companies, the objective is to achieve a significant increase in value with a return on invested capital (ROIC) of 7 to 10 times on the total investment. In the financial year 2021, the Mutares Group generated consolidated revenues of EUR 2.5 billion with an average of around 14,000 employees worldwide. For the financial year 2022, consolidated revenues of at least EUR 4 billion are expected. Based on this, consolidated revenues are to be expanded to at least EUR 5 billion by 2023. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. At this level, the medium- to long-term target for the Holding Company's dividend-relevant net income is in a range of 1.8% to 2.2% of consolidated revenues. Mutares relies strongly on a
sustainable dividend policy consisting of a base dividend and a performance dividend. The Management Board and Supervisory Board together hold more than one third of all Mutares shares with voting rights. The shares of Mutares SE & Co. KGaA are traded on the Regulated Market of the Frankfurt Stock Exchange under the symbol "MUX" (ISIN: DE000A2NB650).
Investor Relations Phone +49 89 9292 7760 E-mail: [email protected] www.mutares.de
CROSS ALLIANCE communication GmbH Susan Hoffmeister Phone +49 89 125 09 0333 E-mail: [email protected] www.crossalliance.de
CLAI Gaëtan Commault - [email protected] / +33 06 99 37 65 64 Dorian Masquelier - [email protected] / +33 07 77 26 24 57
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