AI Terminal
Mutares SE & Co. KGaA
M&A Activity • Dec 22, 2022
6316_rns_2022-12-22_db0eda44-99e8-42da-970b-88faec3ca77c.html
M&A Activity
Open in ViewerOpens in native device viewer
News Details
Corporate | 22 December 2022 12:00
Mutares SE & Co. KGaA: Mutares has signed an agreement to acquire a plant of an automotive supplier in Bordeaux
EQS-News: Mutares SE & Co. KGaA / Key word(s): Investment/Takeover
Mutares SE & Co. KGaA: Mutares has signed an agreement to acquire a plant of an automotive supplier in Bordeaux
22.12.2022 / 12:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
Mutares has signed an agreement to acquire a plant of an automotive supplier in Bordeaux
- Acquisition includes Magna’s plant in Bordeaux, producing high-quality gearboxes and is intended to strengthen the Automotive & Mobility segment
- Revenues of approximately EUR 200 million
- Synergy effects expected with the subsidiaries of Mutares’ Automotive & Mobility segment focused on metal processing
- Closing expected in the first quarter of 2023
Munich, 22 December 2022 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed the Sale and Purchase Agreement for the acquisition of Magna’s facility in Bordeaux, France, after signing a put option in September 2022 and after the finalization of the works council consultation. The facility manufactures and assembles manual transmissions for the automotive industry. The closing of the transaction, which is subject to certain conditions precedent, and the rebranding are expected in the first quarter of 2023.
The plant, which is expected to generate revenues of around EUR 200 million in 2022, employs 740 people and has a long tradition of producing premium transmissions for the automotive industry.
Following the acquisition of three plants in Germany in July 2021 under the new name LMS, this transaction underlines Mutares’ competence, trustworthiness, and reliability under the best new owner principle. The Bordeaux plant produces full gear sets for gasoline and diesel vehicle applications and will further strengthen the Automotive & Mobility segment of Mutares as it perfectly complements the portfolio companies CIMOS, PrimoTECS Group, KICO and ISH Group and brings deep expertise and capabilities in machining and assembly.
Company profile of Mutares SE & Co. KGaA
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. For the financial year 2022, consolidated revenues of approx. EUR 4 billion are expected. Based on this, consolidated revenues are to be expanded to approx. EUR 7 billion by 2025. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. Accordingly, a net profit in the holding company in the range of EUR 125 million to EUR 150 million is expected for the financial year 2025. 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).
For more information, please contact:
Mutares SE & Co. KGaA
Investor Relations
Phone +49 89 9292 7760
E-mail: [email protected]
Contact Press
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Phone +49 89 125 09 0333
E-mail: [email protected]
Contact for press inquiries in France
CLAI
Gaëtan Commault – [email protected] / +33 06 99 37 65 64
Matthieu Meunier – [email protected] / +33 06 26 59 49 05
22.12.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | Mutares SE & Co. KGaA |
| 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 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1519471 |
| End of News | EQS News Service |