DGAP-News: Mutares SE & Co. KGaA / Key word(s): Investment/Takeover
Fifth buyside transaction in 2021: Mutares acquires three exteriors plants from Magna in Germany
- Strengthening the Automotive & Mobility segment
- Leading supplier of plastic exterior trim parts for the automotive industry
- Three exteriors plants with revenues of approx. EUR 360 million
Munich, 18 May 2021 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire three exteriors plants from Magna. The plants produce plastic components such as bumper and exterior trim, radiator grilles and other trim components for leading OEMs in the premium segment. The closing of the transaction and the rebranding of the company are expected in the third quarter of 2021.
The acquisition comprises three Magna sites in Germany: Obertshausen, Sulzbach and Idar-Oberstein. Obertshausen has two additional satellite sites at Neckarsulm and Klein-Krotzenburg that are also part of the transaction. The three exteriors plants employ around 1,700 employees and generate revenues of approximately EUR 360 million, with the main customers being well-known German automotive manufacturers. The three plants have extensive design expertise and include sophisticated in-house engineering.
"The acquisition of the three exteriors plants is a great win for us. We are confident that the business is well positioned to benefit from several strategic growth initiatives in the future. It will benefit especially from automotive megatrends of fuel efficiency and demand for increasingly lightweight exterior plastics from OEMs. We therefore see great potential for the business as part of our portfolio," comments Johannes Laumann, CIO of Mutares.
Company profile Mutares SE & Co. KGaA
Mutares SE & Co. KGaA, Munich (www.mutares.com), as a listed private equity holding company with offices in Munich (HQ), Frankfurt, 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 generated consolidated revenues of approx. EUR 1.6 billion employing more than 12,000 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. The shares of Mutares SE & Co. KGaA are listed on the Frankfurt Stock Exchange under the ticker symbol "MUX" (ISIN: DE000A2NB650).
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18.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Mutares SE & Co. KGaA
+49 (0)89-9292 776-0
+49 (0)89-9292 776-22
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