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Mutares SE & Co. KGaA: Balcke-Dürr Group successfully sold Balcke-Dürr Rothemühle to Howden

·3-min read

DGAP-News: Mutares SE & Co. KGaA / Key word(s): Disposal
29.01.2021 / 15:54
The issuer is solely responsible for the content of this announcement.

Mutares SE & Co. KGaA: Balcke-Dürr Group successfully sold Balcke-Dürr Rothemühle to Howden

- Successful divestment of Rothemühle business

- Double-digit Return on invested Capital for Balcke-Dürr Group

- Mutares expects net proceeds in the high single-digit million range

 

Munich, 29 January 2021 - Balcke-Dürr, a holding of Mutares SE & Co. KGaA (ISIN: DE000A2NB650), has successfully divested Balcke-Dürr Rothemühle to Howden Group. The company will from now on be named Howden Rothemühle.

The company was acquired as part of the acquisition of Balcke-Dürr Group from SPX Corporation in November 2016. The Rothemühle business is an integrated service, engineering, and original equipment provider to the flue gas path segment of power and process plants generating approx. EUR 23 million in revenues.

After a successful reorganization and carve out Balcke-Dürr Rothemühle will now be integrated into Howdens services and product offerings to support environmental technology efforts to reduce emissions. Howden is a leading global provider of mission critical air and gas handling products.

 

Company profile Mutares SE & Co. KGaA

Mutares SE & Co. KGaA, Munich (www.mutares.de), as a listed private equity holding company with offices in Munich (HQ), Frankfurt, Helsinki, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires medium-sized companies and parts of larger groups with headquarters in Europe that show a clear potential for operational improvement and are sold again after undergoing a repositioning and stabilization process. Mutares actively supports and develops its portfolio companies with its own investment and consulting teams as well as through acquisitions of strategic add-ons. With for aim a ROIC (Return on Invested Capital) of 7 to 10 times on the total investment with a focus on sustainable growth of the portfolio companies. In 2020, Mutares SE & Co. KGaA expects generated consolidated revenues of approx. EUR 1.8 billion employing more than 15,000 people worldwide. Based on this, consolidated revenues are expected to increase to approximately EUR 3.0 billion by 2023. Mutares is strongly committed to a sustainable dividend policy consisting of a base dividend and a performance dividend, which has been stable above 10% yield in the past years. The shares of Mutares SE & Co. KGaA are listed on the Frankfurt Stock Exchange under the ticker symbol "MUX" (ISIN: DE000A2NB650).

For further information please contact us:

Mutares SE & Co. KGaA

Investor Relations

Phone +49 89 9292 7760

email: ir@mutares.de

www.mutares.de

Press contact

CROSS ALLIANCE communication GmbH

Susan Hoffmeister

Phone +49 89 125 09 0333

Email: sh@crossalliance.de

www.crossalliance.de

 


29.01.2021 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.
Archive at www.dgap.de

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:

ir@mutares.de

Internet:

www.mutares.de

ISIN:

DE000A2NB650

WKN:

A2NB65

Indices:

Scale 30

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1164508


 

End of News

DGAP News Service

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