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Mutares SE & Co. KGaA: Mutares successfully completes the acquisition of the Engineering Services from Valmet Automotive Inc.

·3-min read

DGAP-News: Mutares SE & Co. KGaA / Key word(s): Investment/Takeover
13.11.2020 / 16:32
The issuer is solely responsible for the content of this announcement.

Mutares successfully completes the acquisition of the Engineering Services from Valmet Automotive Inc.

- Strengthening the Automotive & Mobility segment

- Company with revenues of around EUR 56 million in 2019

- High synergy potential for existing Mutares portfolio

- The company now operates under the new name iinovis
 

Munich, 13 November 2020 - Mutares SE & Co KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of the Engineering Services segment of the Finnish automotive supplier Valmet Automotive Inc. The company will from now on operate under the new name iinovis.

The company will strengthen the Automotive & Mobility segment as a new platform investment with revenues of approximately EUR 56 million and employs more than 600 highly qualified and well-trained engineers and technicians at its five locations in Germany. In addition, the company operates a test track in Spain.

Valmet Automotive Engineering is a leading automotive engineering service provider with expertise in key growth areas such as simulation, testing, electrics/electronics and vehicle development (cars & motorcycles). In addition to engineering services for OEMs and Tier 1 suppliers, the company is also active in prototype and small series production as well as in the production of wiring harnesses.
 

Company profile of Mutares SE & Co. KGaA

Mutares SE & Co. KGaA, Munich (www.mutares.de), a publicly 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 groups based in Europe that show a significant potential for operational improvement and will be resold after stabilization and repositioning. Mutares actively supports and develops the portfolio companies with its own investment and expert teams as well as by acquiring strategic add-ons. The goal is to achieve a significant increase in value with a return of 7 to 10 ROIC (Return on Invested Capital) on the total investments with a focus on sustainable growth of the portfolio companies. In the financial year 2019, Mutares SE & Co. KGaA achieved consolidated annual revenues of approximately EUR 1.0 billion with more than 6,500 employees worldwide. Based on this, consolidated revenues are expected to increase to approximately EUR 3.0 billion by 2023. Mutares relies heavily on a sustainable dividend policy consisting of a basic dividend and a performance dividend, which has been stable above 10% in the past years. Mutares SE & Co. KGaA shares are traded on the Frankfurt Stock Exchange under the symbol "MUX" (ISIN: DE000A2NB650).

For further information please contact us:

Mutares SE & Co KGaA
Investor Relations
Phone +49 89 9292 776 0
email: ir@mutares.de
www.mutares.de

Press contact
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Phone +49 89 1250 90330
Email: sh@crossalliance.de
www.crossalliance.de


13.11.2020 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:

1148139


 

End of News

DGAP News Service

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