Mutares strengthens its portfolio with add-on acquisition in the automotive sector

World News: . []

DGAP-News: Mutares AG / Key word(s): Private Equity/Takeover

27.05.2019 / 13:55
The issuer is solely responsible for the content of this announcement.


Mutares strengthens its portfolio with add-on acquisition in the automotive sector

  • Already fourth transaction and third add-on acquisition for Mutares in 2019
  • Target company with revenues of EUR 38 million in the cable harness segment
  • Strengthening of the Automotive & Mobility segment
  • Closing expected by June 2019

Munich, May 27, 2019 - Mutares AG (ISIN: DE000A2NB650) has signed an agreement to acquire 80% of Plati Elettroforniture S.p.A. (Plati), a European supplier of cable harnesses, from Chinese Deren Group. The transaction is expected to be completed by June 2019.

The agreement between Deren Group and Mutares includes the acquisition of 80% of Plati Elettroforniture S.p.A. with its subsidiaries in Poland, Ukraine, Hungary and Morocco. Together with Elastomer Solutions, Plati will form an automotive group in the Automotive & Mobility portfolio.

Plati, headquartered in Italy in Madone, near Bergamo, is an internationally active supplier of cable harnesses to customers in the automotive, consumer goods, healthcare and telecommunications sectors. Its product portfolio includes cable harnesses, automotive cables, connectors, PVC extrusion, and electromechanical assemblies. The Group employs approx. 850 employees at its five sites and generated revenues of EUR 38 million in fiscal 2018. Deren Group will continue to be a strategic partner of Plati for the development of the Asian market.

'We are pleased to welcome Plati as add-on for Elastomer in our Automotive & Mobility segment and thus lay the foundation for a new supplier group in our portfolio. For Mutares this acquisition is a complementary addition to our current engagement in the automotive sector', Robin Laik welcomes the new addition to the Mutares portfolio.

Company profile of Deren Group

Deren Group (ISIN: CNE000001N62) is a leading Chinese manufacturer of wire harness and electronic components for the automotive, telematics, home appliances, and consumer electronic industry. Deren employs over 20,000 employees worldwide in 8 countries. Group revenues in 2018 amounted to EUR 1 Billion. Deren is listed on Shenzhen stock exchange since 2006 with stock code SZ002055.

Company profile of Mutares AG

Mutares AG, Munich (www.mutares.de), acquires medium-sized companies and parts of groups with headquarter in Europe that are being sold in the course of a repositioning process at their owners and show a clear potential for operational improvement. Mutares actively supports and develops its portfolio companies with its own investment and consulting teams as well as through acquisitions of strategic add-ons. The aim is to achieve a clear value increase with a focus on sustainable, long-term growth of the portfolio company. In 2018, Mutares' portfolio companies generated consolidated revenues of EUR 865 million and employed more than 4,700 people worldwide. The shares of Mutares AG are listed on Frankfurt Stock Exchange under the ticker symbol 'MUX' (ISIN: DE000A2NB650).

For more information:

Mutares AG
Corinna Lumpp
Manager Investor Relations & Strategy
Tel. +49 89 9292 7760
Email: LINK 
LINK 

Press Contact
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Tel.: +49 89 12509 0331
Email: LINK 
LINK 



27.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this

Read More: LINK 

Published: .

Search for other references to "mutares" on SPi News


Share

Previous StoryNext Story

SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
 
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.
 
Privacy Policy | Terms and Conditions | Contact Us