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ER - Mutares strikes for another record year and signed a transaction to acquire certain Sealing and Fluid Businesses from Cooper Standard

Company: Mutares SE & Co. KGaA Date: 2020-05-08 Language: English Register to download

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 Mutares strikes for another record year and signed a transaction to acquire certain Sealing and Fluid Businesses from Cooper Standard

# Mutares strikes for another record year and signed a transaction to acquire certain Sealing and Fluid Businesses from Cooper Standard

 New platform acquisition for the Automotive & Mobility segment with significant synergies for Elastomer Group  

 Leading Automotive and Industrial Specialties supplier for Sealing and rubber Fluid Transfer Systems (FTS) in Poland, Italy, Spain and India with approx. EUR 180 million in revenues in 2019  

 Cross-border transaction and joint team approach of the German and Italian Mutares offices  

Munich, 08 May, 2020 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) and Cooper Standard (ISIN: US21676P1030) have signed an agreement on the acquisition of certain operations from Cooper Standard in Poland, Italy, Spain and India including approximately 2,500 employees. The transaction is still subject to consent of anti-trust and is expected to close in Q2, 2020.  

  

The transaction perimeter in Europe consists of rubber Fluid Transfer Systems plants in Poland and Spain which supply major world-leading Automotive OEMs. The Italian plant serves also as a manufacturer and raw material supplier (compound) of Specialty Sealing Products to the European plants.  

  

The Indian company is a key supplier for sealing solutions as well as fuel and brake delivery systems for the automotive industry with 7 production plants. The combination of this Group and the existing portfolio companies of Mutares, would allow Elastomer Solutions Group to leverage significant synergies in all business areas.  

  

„The foreseen transaction underlines Mutares Automotive, carve-out and turnaround expertise. The acquisition would strengthen the Mutares Automotive segment and offers significant synergy potential to the Elastomer Solutions Group. This will help both companies to improve in the fields of Sales, Operations and Administration and has also a benefit for Cooper Standard“, says Johannes Laumann CIO of Mutares.  

  

  

Company profile Mutares SE & Co. KGaA  

Mutares SE & Co. KGaA, Munich (www.mutares.de), acquires medium-sized companies and parts of groups with headquarter in Europe that are being sold in the course of a repositioning process at their owners and show a clear potential for operational improvement. Mutares actively supports and develops its portfolio companies with its own investment and consulting teams as well as through acquisitions of strategic add-ons. The aim is to achieve a clear value increase with a focus on sustainable, long-term growth of the portfolio company. In 2019, Mutares’ portfolio companies generated consolidated revenues of EUR 1,016 million and employed more than 6,500 people worldwide. The shares of Mutares SE & Co. KGaA are listed on Frankfurt Stock Exchange under the ticker symbol "MUX" (ISIN: DE000A2NB650).  

  

  

  

  

  

For further information please contact:  

  

  

  

Mutares SE & Co. KGaA  

Investor Relations  

Tel. +49 89 9292 7760  

Email: ir@mutares.com  

www.mutares.com  

  

Contact for press requests  

CROSS ALLIANCE communication GmbH  

Susan Hoffmeister  

Tel. +49 89 1250 90330  

Email: sh@crossalliance.de  

www.crossalliance.de