- Transaction provides for complimentary product range and engineering know-how
- Perimeter includes French service entity of STF and enables Balcke Dürr to enter French market
- Balcke Dürr Group continues to widen its footprint in the nuclear power generation space
Munich/Magenta, October 16, 2018 – Balcke Dürr Group, a subsidiary of Mutares Group (DE000A2NB650), successfully completed the acquisition of selective assets of the now-defunct Salvatore Trifone and Figli S.p.A. after the originally envisaged share purchase was derailed by the insolvency of the selling group during the official restructuring procedure.
The newly formed business unit STF Balcke Dürr currently consists of 39 employees and projects profitable sales of EUR 16 million for 2019. The valuable synergy effects in engineering, construction and marketing are already being felt in the daily operation of the Group. The added expertise in the fields of heat exchangers, condensers and feedwater heaters will provide additional sales opportunities in all market segments. The resulting broadened product portfolio and improved market access will generate higher potential growth rates in revenue and earnings going forward. Furthermore, as part of the transaction, Balcke Dürr will purchase a variety of framework agreements in the nuclear space and deepen its market penetration in the Mediterranean region.
Having completed this acquisition, Balcke Dürr Group is evaluating options for a revised structure of its Italian footprint with the aim of efficiency gains in overheads and production to further support margin growth in both of its Italian entities.
“We are very happy to have closed this transaction after what turned out to be a lengthier process than originally envisaged. The complications after signing have however provided the possibility of further optimization of the transaction perimeter and a more profitable set-up than originally planned,” says Arne Amann, Managing Director of Balcke Dürr.
The transaction marks the first for Mutares Italy and the third add-on transaction for Balcke Dürr since the platform was acquired by Mutares Group in November of 2016.