Mutares successfully completes the acquisition of the Engineering Services of Valmet Automotive Inc.
- Strengthening of the Automotive & Mobility segment.
- Company with revenues of approximately EUR 56 million in 2019
- High synergy potential for existing portfolio of Mutares
- The company operates under the new name iinovis
Munich, November 13, 2020 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of the Engineering Services segment of the Finnish automotive supplier Valmet Automotive Inc. The company now operates under the name iinovis.
The company will strengthen the Automotive & Mobility portfolio segment as a new platform investment with sales of approximately EUR 56 million and employs over 600 highly skilled and trained engineers and technicians at its five locations in Germany. In addition, the company operates a test track in Spain.
Valmet Automotive Engineering is a leading automotive engineering service provider with expertise in key growth areas such as simulation, testing, electrical/electronic and vehicle development (cars & motorcycles). In addition to engineering services for OEMs as well as Tier 1 suppliers, the company is also active in prototype, small series production and wiring harness production.
Company profile of Mutares SE & Co. KGaA
Mutares SE & Co. KGaA, Munich (www.mutares.de), as a listed private equity holding company with offices in Munich (HQ), Frankfurt, Helsinki, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires medium-sized companies and parts of groups based in Europe that show significant operational improvement potential and are resold after stabilization and repositioning. Mutares actively supports and develops the portfolio companies with its own investment and expert teams as well as through acquisitions of strategic add-ons. With a focus on sustainable growth of the portfolio companies, the aim is to achieve a significant increase in value with a return of 7 to 10 times ROIC (Return on Invested Capital) on the total investments. In the financial year 2019, Mutares SE & Co. KGaA generated consolidated annual revenues of approximately EUR 1.0 billion with more than 6,500 employees worldwide in the Group. Based on this, the Group’s revenues are expected to expand to approximately EUR 3.0 billion by 2023. Mutares strongly relies on a sustainable dividend policy consisting of a basic dividend and a performance dividend, which has been stable above 10% in the past years. The shares of Mutares SE & Co. KGaA are traded on the Frankfurt Stock Exchange under the symbol “”MUX”” (ISIN: DE000A2NB650).
For further information please contact:
Mutares SE & Co. KGaA
Investor Relations
Phone: +49 89 9292 776 0
Email: ir@mutares.de
www.mutares.de
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