Mutares enters into exclusive negotiations in view of acquiring Walor International
- A material step towards a potential transaction realization in Q2 2023
- Market-leading position in the production of forged and machined steel parts in Europe with revenues over EUR 200 million
Munich, 3 February 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has entered into an exclusive negotiation period with its majority shareholder in view of acquiring Walor International. In case of a successful acquisition, the company will strengthen the Automotive & Mobility segment as an add-on to the other steel parts manufacturing specialists (PrimoTECS, Rasche, Cimos and in the near future Magna-Blanquefort activities). The successful realization of the considered transaction is still dependent on final agreements with the company’s creditors and minority shareholders and is expected in the second quarter of 2023 after consultation of the company’s works councils and of the relevant antitrust authorities.
Walor International is headquartered in Laval, France and employs more than 1,200 people generating over EUR 200 million in revenues. The company is a European leader in the manufacturing of forged and machined steel parts, offering a comprehensive range of products for powertrains, steering systems, body-in-white, and passive safety applications for passenger cars. Walor benefits from an extensive industrial footprint focused on France, but is also present in Germany, Romania, Mexico, and China and leverages a comprehensive range of forging, machining, and turning technologies.
Johannes Laumann, CIO of Mutares comments: “With this first step towards a potential acquisition of Walor International, we are once again showing our ongoing commitment to investing in French industrial leaders and allowing the consolidation of steel forging and machining activities on a European level. We are confident that, together with the strong management team of Walor, we will be able to further unlock the company’s growth and profitability potential and propel the group towards new record levels and sustainable profitability.”