Establishing Mutares UK and opening of its London office marks the next milestone in Mutares Group’s successful international expansion that started with Mutares France and Mutares Italy.
- Mutares UK established and office in London opened
- New country organization for covering activities in the UK and Nordics
- First UK transaction, the acquisition of Knorr-Bremse’s vehicle service business, announced
- Kari Nerg and Philip Szlang to head UK operations
Munich/London, 9 August 2018 – Mutares AG (ISIN: DE000A0SMSH2), a Munich based, stock-listed industrial holding focused on the acquisition and development of mid-sized companies with potential for operational improvement, has founded a new subsidiary, Mutares UK. The establishment of the subsidiary and the opening of the new office in Brook Street in London mark the continuation of Mutares’ successful expansion into the French and Italian markets in recent years and will enable the Mutares Group to accelerate its activities in the British and Nordic markets.
The London office will focus on the sourcing and execution of new platform investments as well as add-on acquisitions in the UK and the Nordic market. For platform acquisitions, the focus is on medium-sized companies with operational development potential. The situations may include corporate carve-outs and other special situations in which the companies will benefit from a new long-term owner with in-house operational capabilities and an approach to actively support the development of its portfolio companies.
“We are excited about the establishment of the London office and believe that our investment focus and value creation approach are well-suited to the UK market. The transaction with Knorr-Bremse is a good example of this. We have successfully expanded our activities in mainland Europe and are now striving to expand our activities in the UK and Nordic markets as well” said Robin Laik, CEO and founder of Mutares AG.
“Already today, we see an attractive pipeline of opportunities in the UK. We are convinced that having a team on the ground will allow us to accelerate growth in the UK and simultaneously focus in developing our activities in the Nordic market. We are very much looking forward to the upcoming tasks” said Kari Nerg, Head of Mutares UK.
The office is headed by Kari Nerg, Head of Mutares UK who will lead the activities in London together with Philip Szlang, Head of International M&A.