- Leading Engineering Service Provider for the automotive industry which provides significant synergy potential for the existing portfolio of Mutares
- Sixth platform investment in 2020 strengthens the Automotive & Mobility segment
- Acquired business with approx. EUR 56 million in revenues in 2019
Munich, 13 October 2020 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement on the acquisition of the Engineering Services Business Line from the Finnish automotive supplier Valmet Automotive Inc. The activities comprise five sites in Germany as well as one location in Spain. The closing of the transaction is expected for the fourth quarter of 2020.
The acquired business provides engineering services to the automotive industry and serves both major OEMs as well as Tier 1 suppliers. Its services include engineering solutions in key growth areas of vehicle development (for cars and motorcycles) and electrics/electronics, simulation and testing services as well as prototyping and small series manufacturing. In 2019, the business generated revenues of approximately EUR 56 million.
The transaction will strengthen the Automotive & Mobility segment of Mutares and is expected to provide significant synergies with existing portfolio companies benefitting from the strong engineering know-how and capabilities of the acquired business.
Johannes Laumann, CIO of Mutares, comments: “We are excited to welcome the Engineering Services Business of Valmet Automotive in the Automotive & Mobility segment of our portfolio. The company is well established in the European automotive industry and has terrific employees, whom I want to especially welcome to the Mutares family. I believe that Mutares, with its industry expertise, operational experience and track record in turnaround situations, is the optimal pick as new owner for sustainability and improvement of customer satisfaction and to drive further value-adding serviceability.”