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par Mutares SE & Co. KGaA (isin : DE000A2NB650)

Eleventh acquisition in 2023: Mutares signed an agreement to acquire High Precision Components Witten GmbH from Westebbe Verwaltungs GmbH and Peter Flaschel

EQS-News: Mutares SE & Co. KGaA / Key word(s): Investment/Takeover
Eleventh acquisition in 2023: Mutares signed an agreement to acquire High Precision Components Witten GmbH from Westebbe Verwaltungs GmbH and Peter Flaschel

06.11.2023 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


Eleventh acquisition in 2023: Mutares signed an agreement to acquire High Precision Components Witten GmbH from Westebbe Verwaltungs GmbH and Peter Flaschel

  • New add-on investment strengthening the KICO & ISH Group as system supplier of high-quality automotive technology
  • Specialist for innovative precision components for OEMs
  • Synergies in the production process with portfolio company KICO & ISH Group expected

Munich, November 6, 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire High Precision Components Witten GmbH from Westebbe Verwaltungs GmbH and Peter Flaschel. The transaction is expected to be completed in Q4 2023.

High Precision Components Witten GmbH, a leading Tier 1 automotive supplier, will join KICO & ISH, strengthening the group's presence in the market.

Founded in 2015 with roots dating back to 1901, High Precision Components is based in Witten, Germany. The company employs around 200 professionals, producing precision components for automotive OEMs, including hinges, locking systems and body modules.

By investing in High Precision Components Witten GmbH, Mutares underlines its commitment to strengthening the Automotive & Mobility segment and expanding its portfolio. With this strategic step, 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, in consideration of the current technology, product and customer spectrum, and positioning KICO GmbH and Innomotive Systems Hainichen GmbH (ISH) together with High Precision Components Witten GmbH in a sustainable and future-proof manner.

The strategic alliance promises to fast-track the sustainable growth of High Precision Components. Through collaboration with Mutares' companies KICO & Innomotive Systems Hainichen, the enhancement of High Precision Components is underway. With the evolving industry needs, there's a focus on refining expertise in hinges and locking systems, targeting a leading position in this domain.

Mark Friedrich, CFO of Mutares, comments: "We are very happy to announce our eleventh acquisition in 2023. With this acquisition, we underline our experience in the Automotive & Mobility segment for precision components for Tier 1 manufactures. I am very confident that High Precision Components Witten GmbH can be further developed in its core competences while realizing valuable synergies and strengthening its competitive advantage."

 

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

Press contact
CROSSALLIANCE 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



06.11.2023 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.

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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:1764993

 
End of NewsEQS News Service

1764993  06.11.2023 CET/CEST

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