Mutares has successfully completed the acquisition of a majority stake in Sofinter Group
MUX.DE
EQS-News: Mutares SE & Co. KGaA / Key word(s): Investment/Takeover Mutares has successfully completed the acquisition of a majority stake in Sofinter Group 23.04.2024 / 10:45 CET/CEST The issuer is solely responsible for the content of this announcement.
Mutares has successfully completed the acquisition of a majority stake in Sofinter Group
Munich, April 23, 2024 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of a majority stake in Sofinter Group. The acquisition further strengthens the Engineering & Technology segment of Mutares.
Sofinter is a leading player specialized in designing and manufacturing of steam generators for different markets. The company has 4 factories located in Italy and Romania ensuring European quality standards. With around 680 employees, Sofinter generated revenues of over EUR 200 million in 2023. Sofinter operates through 4 main brands offering a diversified product range in more than 45 countries: Macchi, a worldwide leader in industrial and heat recovery boilers for the oil & gas sector; AC Boilers, a global player in the manufacturing of large utility boilers, waste-to-energy/biomass boilers and Heat Recovery Steam Generation (HRSG) for power generation; Europower, an EPC and O&M contractor focused mainly in the Waste-to-Energy sector; Itea, dedicated to the development and sale of plants based on the proprietary Technology ISOTHERM Pwr® “Flameless” Oxy-Combustion, covering a wide range of activities within the value chain.
Sofinter is very well positioned in the market thanks to its broad product range, which enables it to serve different markets and customer needs, its outstanding technical competence and its continuous investment in R&D. The aim is to exploit new market opportunities leveraging on Sofinter skills and quality highly recognized and appreciated in the market. Thanks to its considerable installed base of equipment worldwide, the company targets to significantly develop its service and aftermarket business in the future.
Company profile of Mutares SE & Co. KGaA
Mutares SE & Co. KGaA, Munich (www.mutares.com), a listed private equity holding company with offices in Munich (HQ), Amsterdam, Frankfurt, Helsinki, London, Madrid, Milan, Paris, Shanghai, Stockholm, Vienna and Warsaw, acquires companies in special situations which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. For the fiscal year 2024, consolidated revenues of EUR 5.7 billion to EUR 6.3 billion are expected. Based on this, consolidated revenues are to be expanded to approx. EUR 7 billion by 2025 and EUR 10 billion by 2028. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. On this basis, the Holding Company is expected to generate a net income of EUR 108 million to EUR 132 million for the fiscal year 2024, EUR 125 million to EUR 150 million for the fiscal year 2025 and EUR 200 million for the fiscal year 2028. The Management Board and Supervisory Board together hold more than one-third of all Mutares shares with voting rights. 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 have been part of the selection index SDAX since December 2023.
For more information, please contact:
Mutares SE & Co. KGaA Investor Relations Phone: +49 89 9292 7760 E-mail: [email protected]
Press Contact in Germany CROSS ALLIANCE communication GmbH Susan Hoffmeister Phone: +49 89 125 09 0333 E-mail: [email protected]
Press Contact in France CLAI Matthieu Meunier Phone: +33 06 26 59 49 05 E-mail: [email protected]
23.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Archive at www.eqs-news.com
1887031 23.04.2024 CET/CEST