Mutares - PE investor focused on special situations
Mutares (MUX) predominantly invests in corporate carve-outs (80%+ of all deals) where it seeks to drive an operational turnaround, and often also executes a ‘buy-and-build’ strategy. MUX looks for companies with an annual turnover of €100–750m, with its ‘sweet spot’ in the range of €200–300m generated across multiple production sites. Its focus is on four major sectors: automotive & mobility (which is early-cycle), engineering and technology (project-driven, late-cycle), goods and services (considered non-cyclical) and retail and food (cyclical). MUX’s portfolio as at October 2023 consisted of 29 companies (including signed transactions) across Europe with more than 27,000 employees worldwide and annualised revenues of more than c €6bn.Mutares SE & Co KgaA Formerly known as Mutares AG. Mutares SE & Co KgaA is a Germany-based holding company focused on acquiring companies in special situations, such as owner or management succession and re-funding. It is active in three segments: Automotive & Mobility, including Elastomer Solutions, a manufacturer of rubber moldings, Plati, a supplier of cable harnesses, Kico, a supplier for automotive technology and STS Group, a supplier for commercial vehicle; Engineering & Technology, including Balcke-Duerr, a producer of power plant components, Donges Group, a manufacturer of bridge and steel constructions, EUPEC, a supplier of coatings for oil and gas pipelines, and Gemini Rail Group, a provider of component and vehicle overhaul services to rolling stock owners, and Goods & Services, including KLANN, a manufacturer of tinplate packaging, Cenpa, a manufacturer of coreboard, La Meusienne, a manufacturer of stainless steel tubes, TrefilUnion, a producer of iron wire and prestressing steel, and keeeper group, a plastic manufacturer.
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