Mutares acquires Donges Steeltec

Mutares (ISIN: DE000A0SMSH2) has acquired Donges Steeltec, one of Germany’s leading steel construction companies, from Mitsubishi Hitachi Power Systems Europe. Donges generates a turnover of EUR 36m with 200 employees. The business provides significant synergies with Balcke-Dürr, Mutares’ manufacturer of power plant components.

Mutares has acquired Donges Steeltec from Mitsubishi Hitachi Power Systems Europe. Donges is one of Germany’s leading steel construction companies located in Darmstadt. It generates a turnover of EUR 36m with 200 highly qualified employees. Its product range is focussed on bridges, power plants, sports arenas, hangars as well as industrial and transport constructions. Particularly the dynamic business with bridges should boost Donges’ development in the coming years.

The divestment of Donges was driven by a refocusing of Mitsubishi Hitachi Power Systems Europe on its core business. Donges fits perfectly into Mutares’ Engineering & Technology segment and provides significant synergy potential with Balcke-Dürr in procurement, sales, and IT. The operational experience of Mutares and Balcke-Dürr was highly appreciated by the seller which is another confirmationof Mutares’ unique positioning.

Company profile of Mitsubishi Hitachi Power Systems Europe

Mitsubishi Hitachi Power Systems Europe (MHPS Europe) designs and constructs thermal power plants. The plant constructor also supplies key components such as utility steam generators, environmental engineering equipment, turbines and pulverizers. The company has 1,450 employees. As a market and technology leader – in utility steam generators, for instance – MHPS Europe relies on modern, ecologically sound and economic plants. In this way, the company plays a prime role in securing the supply of electricity on its markets. MHPS Europe offers an extensive and flexible service to its customers: from revamping through to repairs and from maintenance through to power plant servicing.

Company profile of Mutares AG

Mutares AG, Munich (www.mutares.de), acquires medium-sized companies and parts of groups that are sold during a repositioning and have a clear potential for operational improvement. Mutares actively supports develops its portfolio companies with its own investment and expert teams as well as through acquisitions of strategic add ons. The aim is to achieve a significant increase in value focusing on sustainable growth of the portfolio company. Mutares AG shares are traded on the Frankfurt Stock Exchange under the symbol “MUX” (ISIN: DE000A0SMSH2).