Mutares SE & Co. KGaA

M&A Activity • Jan 8, 2026

Mutares signs agreement to sell Kalzip to Tremco CPG

• Leading provider of aluminum roofing and facade systems with a strong market position and attractive growth prospects
• Revenues of approximately EUR 75 million
• Closing and purchase price inflow expected in Q2 2026

Munich, January 8, 2026 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to sell its portfolio company Kalzip GmbH ("Kalzip") to Tremco Construction Products Group ("Tremco CPG"), part of RPM International Inc. The transaction, including the purchase price payment, is expected to close in the second quarter of 2026.

Following the acquisition of Tata Steel Europe in 2018, Mutares successfully positioned Kalzip as an independent company and developed it further within the Donges Group. Through targeted transformation measures and the exploitation of synergies within the Donges Group, Kalzip was able to strengthen its market position and to achieve sustainable and profitable growth. The company, which is one of the leading suppliers of aluminum roofs, facades, and building envelopes, is represented internationally with numerous sales offices and a globally available fleet of mobile production units. In fiscal year 2024, Kalzip generated profitable revenues of approximately EUR 75 million with around 180 employees.

Following its successful development within the Donges Group, Kalzip is now on a solid footing and enjoys a strong market position, which has been reflected in growing interest from strategic investors in recent months. RPM International Inc. is one of the world's leaders in construction products and related services, as well as specialty coatings and sealants. As a strategic buyer, its Tremco CPG group is ideally placed to continue driving Kalzip's growth in a sustainable manner and to open up new markets.

Johannes Laumann, CIO of Mutares, comments: "Following the latest successful exits of Fuentes and Conexus, we have now been able to realize another announced exit with Kalzip. After seven years in the Mutares portfolio, now is the ideal time to place Kalzip in new, good hands. Kalzip's development in recent years shows how Mutares specifically develops companies from special situations and successfully positions them independently, profitably, and with growth potential in the market. We are convinced that we have found the ideal new owner for Kalzip in Tremco CPG, who will successfully accompany our portfolio company into the next phase of growth."

Company profile of Mutares SE & Co. KGaA

Mutares SE & Co. KGaA, Munich (www.mutares.com), is a listed private equity holding company with offices in Munich (HQ), Amsterdam, Bad Wiessee, Chicago, Frankfurt, Helsinki, London, Madrid, Milan, Mumbai, Paris, Shanghai, Stockholm, Warsaw, and Vienna, Mutares SE & Co. KGaA acquires companies in transition that show significant potential for operational improvement and are resold after stabilization and repositioning.

The shares of Mutares SE & Co. KGaA are traded on the Regulated Market of the Frankfurt Stock Exchange under the symbol "MUX" (ISIN: DE000A2NB650) and are included in the SDAX selection index.

For further information, please contact:

Mutares SE & Co. KGaA Investor Relations

Phone: +49 89 9292 7760 Email:ir@mutares.de www.mutares.com

Press contact Germany

CROSS ALLIANCE communication GmbH

Susan Hoffmeister

Phone: +49 89 125 09 0333 Email:sh@crossalliance.de www.crossalliance.de

Press Contact in France

VAE SOLIS COMMUNICATIONS

Marie-Caroline Garnier Phone: +33 6 22 86 39 17

E-mail: mutares@vae-solis.com

Press contact United Kingdom

14:46 Consulting

Tom Sutton

Phone: +44 7796 474940 Email: tsutton@1446.co.uk