Seventh exit in 2023: Mutares has successfully sold Plati Group to Accursia Capital

Munich, November 8, 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has sold Plati Group to Accursia Capital.

Plati Group is a global supplier of wiring harnesses and cabling. Founded in 1973, the company has two production sites in Poland and Ukraine and a sales office in Italy, as well as excellent expertise in the manufacture of customized products for various industries such as automotive and consumer goods. In 2022, the company generated revenues of ca. EUR 22 million and employed more than 450 employees.

With the support of the Mutares team, the company was quickly and successfully repositioned following its acquisition from the Deren Group, in January 2019, with a focus on reducing loss-making products and improving work organization and productivity. Following the restructuring, the focus was placed on expanding sales markets and broadening the product portfolio.

Mark Friedrich, CFO of Mutares, comments: "After our implemented measures, the company is very well positioned for the future. We are pleased to have found an owner for Plati Group in Accursia Capital, who will ensure stability for employees and customers, continue the growth course and also leverage synergies with its own portfolio."
 

Company profile of Mutares SE & Co. KGaA

Mutares SE & Co. KGaA, Munich (), as a listed private equity holding company with offices in Munich (HQ), Amsterdam, Frankfurt, Helsinki, London, Madrid, Milan, Paris, Shanghai, Stockholm, Vienna and Warsaw, acquires medium-sized companies in special situations, based in Europe, which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. For the fiscal year 2023, consolidated revenues of EUR 4.8 billion to EUR 5.4 billion are expected. Based on this, consolidated revenues are to be expanded to approx. EUR 7 billion by 2025 and EUR 10 billion by 2028. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. Accordingly, net income in the holding company is expected to be in the range of EUR 125 million to EUR 150 million for the fiscal year 2025 and EUR 200 million for the fiscal year 2028. The Management Board and Supervisory Board together hold more than one-third of all Mutares shares with voting rights. The shares of Mutares SE & Co. KGaA are traded on the Regulated Market of the Frankfurt Stock Exchange under the symbol "MUX" (ISIN: DE000A2NB650).

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