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DGAP-News: Mutares SE & Co. KGaA / Key word(s): Disposal
Fourth exit this year: Mutares has received a put option to sell TréfilUnion, EUPEC and La Meusienne
Munich, 1 July 2021 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has received a put option to sell its subsidiaries TréfilUnion, EUPEC and La Meusienne by Prof. Dr. Frank Richter, entrepreneur and co-founder of Swiss Global Investment Group AG. The transaction is still pending on the works council opinion and is expected to be closed before the end of the year 2021.
TréfilUnion is a manufacturer of iron wire and prestressing steel, EUPEC is a supplier of coatings for oil and gas pipelines and La Meusienne is a renowned manufacturer of welded stainless-steel tubes. All three companies are located in France and generate total revenues of approx. EUR 80 million. This combination of three companies which operate in complementary industries benefits from a reduced impact of economic market cycles. It is the alliance of the product-oriented activities of TréfilUnion and La Meusienne with the project-based nature of EUPEC which allows significant growth upside while recurring income is secured.
EUPEC, which was acquired in 2012 and La Meusienne, which was acquired in 2017 have successfully completed a turnaround program and recovered from a heavily loss-making period prior to the acquisition by Mutares. TréfilUnion, since its acquisition in 2019, has also already achieved significant progress in its turnaround program implemented by Management with the support of Mutares operations teams.
For the portfolio companies of Prof. Richter this acquisition is an opportunity to further leverage on synergies of customers, suppliers and cost-savings resulting from the combination of these three businesses. This acquisition is also an opportunity to further capitalize on three companies already sharing some of their Management teams, operations and support functions, working together on a daily basis.
For Mutares this transaction is a further step towards the consolidation of its portfolio and is in line with the Company's strategy to concentrate on larger transactions. Prof. Richter is considered a suitable partner to continue the next challenge and execute the companies' development plans while realizing untapped synergies of such a combination of assets.
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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01.07.2021 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
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
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