The year-end spurt has begun: Mutares acquires the Italian business of Tekfor Group and grows annualized by a further EUR 120 million

  • Profitable manufacturer of high-quality automotive components with sales of EUR 120 million
  • Company strengthens Automotive & Mobility segment as platform
  • Ninth transaction in 2019 and first transaction in December

Munich/Milan, December 19, 2019 – The investment company Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire the Italian business of the Tekfor Group, a well-known manufacturer of automotive components. The transaction is expected to be completed in the first quarter of 2020.

The agreement between the Tekfor Group and Mutares includes the complete takeover of the Italian subsidiary Tekfor S.p.A. including two production sites in the Turin area. The company will strengthen the Automotive & Mobility portfolio segment as a new platform investment and follows the industry focus and growth-oriented investment strategy of the Mutares Group.

Tekfor S.p.A. is an established Tier 1 and Tier 2 supplier for the automotive and truck industry as well as related industries. At two locations in Northern Italy, the company produces components for use in electric, hybrid and conventional powertrains.  The company generated sales of around EUR 120 million in the 2018 financial year and employs around 670 people.

“With the acquisition of the Italian business of the Tekfor Group as a platform investment, we are further developing our Automotive & Mobility segment. Mutares has enormous expertise and a successful track record in the automotive sector, which we look forward to building on with this acquisition. Especially in the current market situation, after careful selection, there are attractive purchase opportunities for Mutares in this segment, where we can make the difference with our experience and our operational approach”, explains Robin Laik, CEO and biggest shareholder of Mutares.

Company profile of Mutares SE & Co. KGaA

Mutares SE & Co. KGaA, Munich (www.mutares.de), acquires medium-sized companies and parts of groups with headquarter in Europe that are being sold in the course of a repositioning process at their owners and show a clear potential for operational improvement. Mutares actively supports and develops its portfolio companies with its own investment and consulting teams as well as through acquisitions of strategic add-ons. The aim is to achieve a clear value increase with a focus on sustainable, long-term growth of the portfolio company. In 2018, Mutares’ portfolio companies generated consolidated revenues of EUR 865 million and employed more than 4,700 people worldwide. The shares of Mutares SE are listed on Frankfurt Stock Exchange under the ticker symbol “MUX” (ISIN: DE000A2NB650).