EQS-News: Second acquisition in 2024: Mutares has signed an agreement for the transfer of Magirus from Iveco Group
EQS-News: Mutares SE Co. KGaA
/ Key word(s): Investment/Takeover
Second acquisition in 2024: Mutares has signed an agreement for the transfer of Magirus from Iveco Group
Munich, March 13, 2024 – Mutares SE Co. KGaA (ISIN: DE000A2NB650) has signed an agreement for the transfer of Magirus from Iveco Group (EXM: IVG). The company will strengthen the Goods Services segment as a new platform. Due to the required unbundling measures, the transaction is expected to be completed no later than January 2025. Magirus is amongst the best-known and most technologically leading providers of firefighting technology worldwide. Founded in 1864 and headquartered in Ulm, Germany, the company generates over EUR 300 million in revenues and employs around 1,300 staff at its four sites in Germany, Italy, Austria and France. Magirus offers a comprehensive range of products in the firefighting and disaster control field, such as a complete range of vehicles, ladders, pumps and components systems, including customer service and aftersales. The company has a global commercial presence serving over 70 countries, its main customers are municipalities and public administrations, airports and industrial companies. With its strong brand, best-in-class innovation and advanced technology, the company has a unique competitive positioning as a leader in its field, drawing the way for future growth in a resilient and expanding market while optimizing its supply chain and seizing further market opportunities overseas. Mark Friedrich, CFO of Mutares, comments on the transaction: “Magirus is a typical Mutares acquisition where the company stands for a reputed brand with high quality and represents a compelling value proposition. We therefore see huge potential in the business and are looking forward to further leveraging on its position in Europe and globally.”
Company profile of Mutares SE Co. KGaA Mutares SE Co. KGaA, Munich (www.Mutares.com), 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 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) and have been part of the selection index SDAX since December 2023.
For more information, please contact: Mutares SE Co. KGaA Contact Press
13.03.2024 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 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1858211 |
End of News | EQS News Service |
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1858211 13.03.2024 CET/CEST
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