EQS-News: Fourteenth acquisition in 2023: Mutares has signed an agreement to acquire 83.08% equity of the TeamTex group from Nania Developpement and Crédit Mutuel Equity
EQS-News: Mutares SE Co. KGaA
/ Key word(s): Investment/Takeover
Fourteenth acquisition in 2023: Mutares has signed an agreement to acquire 83.08% equity of the TeamTex group from Nania Developpement and Crédit Mutuel equity
Munich, November 29, 2023 – Mutares SE Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire 83.08% of TeamTex Management and its subsidiaries (“TeamTex”) from Nania Developpement and Crédit Mutuel Equity. The closing of the transaction is expected in Q4 2023, subject to the customary waiver of conditions and in particular the approval of relevant merger control authorities. TeamTex is headquartered in Charvieu-Chavagneux, France, and manufactures child restraint systems (car seats and accessories) thanks to its plastic injection moulding and blow moulding capabilities. The company employs close to 250 employees, with manufacturing capacity of over 17,000 units per day. With sales points in over 56 countries, either directly or through local distributors, TeamTex is a leader in its industry generating revenues of approx. EUR 80 million in FY22. The company sells child restraint systems under its own brand NANIA, but also under private labels for some of its retail customers and importers or under licensing brands, such as Disney. With the establishment of subsidiaries in the United Kingdom and Brazil, TeamTex has oriented itself towards international markets.
Company profile of Mutares SE Co. KGaA Mutares SE Co. KGaA, Munich (www.Mutares.com), 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).
For more information, please contact: Mutares SE Co. KGaA Contact Press Contact Press in France
29.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Mutares SE Co. KGaA |
Arnulfstr.19 | |
80335 Munich | |
Germany | |
Phone: | +49 (0)89-9292 776-0 |
Fax: | +49 (0)89-9292 776-22 |
E-mail: | ir@mutares.de |
Internet: | www.mutares.de |
ISIN: | DE000A2NB650 |
WKN: | A2NB65 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1784705 |
End of News | EQS News Service |
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1784705 29.11.2023 CET/CEST
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