Mutares SE & Co. KGaA / DE000A2NB650
04.12.2023 - 07:30:11Mutares has successfully completed the acquisition of High Precision Components Witten GmbH from Westebbe Verwaltungs GmbH and Peter Flaschel
| Mutares SE & Co. KGaA / Key word(s): Investment/Takeover 04.12.2023 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Leading Tier 1 automotive supplier for innovative precision components for OEMs New add-on investment strengthening the KICO & ISH Group as system supplier of high-quality automotive technology High synergies in the production process expected Munich, December 4, 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of High Precision Components Witten GmbH from Westebbe Verwaltungs GmbH and Peter Flaschel. The company will join KICO & ISH as a new add-on investment, strengthening the group's presence in the market and the Automotive & Mobility segment of Mutares. Founded in 2015 with roots dating back to 1901, High Precision Components is a specialist for innovative precision components for OEMs, including hinges, locking systems and body modules. The company employs around 200 professionals and is based in Witten, Germany. With High Precision Components Witten GmbH joining the KICO & ISH Group, Mutares is forming a powerful supplier group in order to leverage production-side and sales synergies while at the same time taking into account the dramatically changing market environment in the automotive supply sector. The goal is to position the group in a sustainable and future-proof manner in consideration of the current technology, product and customer spectrum through focusing on refining expertise in hinges and locking systems, targeting a leading position in this domain. KICO & ISH Group is now a leading global supplier of hinge and locking systems. With the four companies KICO, ISH, High Precision Components and PRINZ, Mutares is planning total revenues of approx. EUR 350 million for the fiscal year 2024. Mutares now aims to leverage synergies between the four companies in China, Germany, Poland and Bulgaria. 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 Investor Relations Phone +49 89 9292 7760 E-mail: ir@mutares.de www.mutares.de Contact Press CROSS ALLIANCE communication GmbH Susan Hoffmeister Phone +49 89 125 09 0333 E-mail: sh@crossalliance.de www.crossalliance.de Contact Press France CLAI Matthieu Meunier Phone: +33 06 26 59 49 05 E-mail: matthieu.meunier@clai2.com 04.12.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| 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: | 1787717 |
| End of News | EQS News Service |
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