- Mutares France completes acquisition of a new platform investment announced in April 2019
- Company with annual sales of EUR 42 Million
- Products focused on steel wire and ropes for construction and automotive
- Acquisition will strengthen portfolio segment Goods & Services
Munich/ Paris, June 3, 2019 – Special situation investor Mutares (ISIN: DE000A2NB650) has completed the acquisition of ArcelorMittal TrefilUnion SAS (TrefilUnion), a company with two plants in France, from Luxemburg group ArcelorMittal. The transaction represents one of already five transactions and one of two new platform acquisitions in 2019 for Mutares.
TrefilUnion is active in the fabrication of products from different kinds of steel. It produces wires and steel ropes with a product portfolio ranging from thin spring wire for the automotive market to heavy specialties for bridges and the pre-stressed concrete market. TrefilUnion serves customers from various industries, including the energy, construction, household, agriculture, or automotive industries. The company employs around 100 people in its two French plants and generated revenues of EUR 42 million in 2018. TrefilUnion will be led in the Goods & Services segment in the portfolio of Mutares.
“We are proud to welcome TrefilUnion as new addition to our portfolio. It complements ideally our Goods & Services segment and possesses ideal potential for our operational experts. We are convinced to be the perfect partner for its future successful development. For Mutares, the closing of this transaction confirms our strong outlook on this year. We are confident to also make 2019 a highly successful year for Mutares”, comments Robin Laik, CEO of Mutares.