- Add-on acquisition to Balcke-Dürr Group
- Engineering-Procurement-Construction Service provider for energy transmission and distribution
- Strong expertise in HV/MV substations, smart grids, battery storage and renewables
- Executed projects worth over EUR 350 million in the past years
Munich/Milan, 07 October 2021 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire Toshiba Transmission & Distribution Europe S.p.A. (“Company”) from Toshiba Group as add-on for Balcke-Dürr Group. The Company is a renowned provider of full turnkey projects in the energy field, operating primarily in Europe and Mediterranean countries. The closing of the transaction and the consequent rebranding is expected for the fourth quarter of 2021 and is still subject to certain customary market conditions precedent. The Company and Toshiba Group will continue to work closely as technological partners for the completion of existing projects and will continue to discuss potential business opportunities in the future.
The Company is headquartered in Genova, Italy and employs around 80 people across its branch offices. It delivers HV/MV full turnkey projects, battery storage systems, smart grids solutions and plants for renewable energies. Formerly known as Ansaldo T&D until 2012, the Company realized in its history over 200 installations all over the world.
“This deal marks our tenth acquisition in 2021 underlining our success growth story in the past years and years to come. The Company complements our existing portfolio in the field of power efficiency of Balcke-Dürr Group. With Toshiba Transmission & Distribution Europe S.p.A. we can now further concentrate and expand the business of renewable systems, which already today marks a very important business field and can contribute to a more sustainable source of energy,” comments Johannes Laumann, CIO of Mutares.