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Mutares SE & Co. KGaA
M&A Activity • Nov 1, 2018
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M&A Activity
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News Details
Corporate | 1 November 2018 07:30
Mutares completes acquisition of Knorr-Bremse RailServices UK and Kiepe Electric Ltd.
DGAP-News: Mutares AG / Key word(s): Mergers & Acquisitions
01.11.2018 / 07:30
The issuer is solely responsible for the content of this announcement.
Mutares completes acquisition of Knorr-Bremse RailServices UK and Kiepe Electric Ltd.
– New platform investment with total annual turnover of GBP 75 million (EUR 85 million)
– Product portfolio includes railway maintenance services and turnkey solutions
– Transaction marks entry into the UK market for Mutares
Munich, November 1, 2018 – Mutares AG (ISIN: DE000A2NB650) has successfully closed the acquisition of Knorr-Bremse RailServices UK (KBRS) and Kiepe Electric Ltd. (Kiepe) from Knorr-Bremse. From now on, both companies will be combined in the Mutares portfolio in the “Engineering & Technology” segment as a new platform investment.
The product range offered includes structured and innovative services such as overhaul and turnkey repair services, modernisation programmes, design and project management for the owners and operators of rail vehicles in the UK. KBRS and Kiepe employ around 700 people in Wolverton, Springburn and Birmingham and have total sales of around GBP 75 million (EUR 85 million). The operational experts at Mutares are now working with local teams to develop a comprehensive change program.
“The acquisition of two of Knorr-Bremse’s companies is our first transaction in the UK and is an excellent continuation of the market development we have been able to achieve through our recently opened UK office in London. KBRS and Kiepe are both well-established players in the UK market and represent an ideal platform investment where our operational advisory team will support local management in realizing value potential,” says Robin Laik, CEO of Mutares AG.
Company profile of Mutares AG
Mutares AG, Munich ( www.mutares.de ), acquires medium-sized companies and parts of groups that are sold during a repositioning and have a clear potential for operational improvement. Mutares actively supports its portfolio companies with its own investment and operational professionals as well as through acquisitions of strategic add-ons. The aim is to achieve a significant increase in value focusing on sustainable growth of the portfolio company. Mutares AG shares are traded on the Frankfurt Stock Exchange under the symbol “MUX” (ISIN: DE000A2NB650).
For more information:
Mutares AG
Corinna Lumpp
Manager Investor Relations & Strategy
Tel.: +49 89 9292 7760
Email: [email protected]
Contact Press
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Tel.: +49 89 8982 7227
Email: [email protected]
01.11.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | Mutares AG |
| Arnulfstr.19 | |
| 80335 Munich | |
| Germany | |
| Phone: | +49 (0)89-9292 776-0 |
| Fax: | +49 (0)89-9292 776-22 |
| E-mail: | [email protected] |
| Internet: | www.mutares.de |
| ISIN: | DE000A2NB650 |
| WKN: | A2NB65 |
| Indices: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Frankfurt (Scale), Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |