- Provider of forged steel parts
- Add-on investment for PrimoTECS
- Target company with revenues of approx. EUR 30 million
Munich, 5 July 2021 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire, subject to certain approvals, Rasche Umformtechnik GmbH & Co. KG from the private owners. The acquisition of Rasche is an add-on investment for PrimoTECS and extends the presence of the company in Germany while paving the way for expanding its products into other industries. The closing of the transaction is still subject to certain approvals and is expected in Q3 2021.
The company is headquartered in Plettenberg, Germany, and is a leading manufacturer of forged parts by hot forming. Rasche generates revenues of approx. EUR 30 million and employs around 180 people. Automotive, fittings, aviation, forklift, agriculture and mechanical engineering belong to the key industries and main sources of revenue and growth.
Rasche will allow PrimoTECS, which was acquired in February 2020 from Tekfor Group, to access new customers and customer segments as well as to expand its product portfolio into smaller series sizes with manual forging presses. The acquisition underlines the growth strategy and vision to become the first in mind forging and machining partner in this industry. With the add-on investment, the Group will grow to consolidated revenues of approx. EUR 150 million.
Johannes Laumann, CIO of Mutares comments: “We are happy to add Rasche to our portfolio and welcome its employees to PrimoTECS. We are confident that the numerous synergies and high-quality products will bring the companies to a global player that is a first in mind steel forged parts provider.”