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

Fourth acquisition in 2023: Mutares signed an agreement to acquire Recover Nordic Oy from Recover Group

EQS-News: Mutares SE & Co. KGaA / Key word(s): Investment/Takeover
Fourth acquisition in 2023: Mutares signed an agreement to acquire Recover Nordic Oy from Recover Group

08.07.2023 / 12:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


Fourth acquisition in 2023: Mutares signed an agreement to acquire Recover Nordic Oy from Recover Group

  • Further strengthening Mutares’ presence in Finland after recent successful acquisition of Palmia
  • New platform investment for the Goods & Services segment
  • Revenues of ca. EUR 40 million in 2022
  • Provider of property remediation services
  • Wide market coverage with 19 branches in Finland

Munich, 8 July 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire Recover Nordic Oy from Recover Group. Recover Nordic Oy will strengthen Mutares´ Goods & Services segment as a new platform investment in Finland. The transaction is expected to be closed in Q3 2023 and is subject to approval by the Finnish Competition and Consumer Authority.

Recover Nordic Oy is a leading provider of property remediation services related to, for example, water and fire damages, odour, disinfection, and moisture. The company covers the full value chain following property damages from first response and inspection to demolition, remediation and reconstruction. Headquartered in Vantaa, and operating through its 19 branches, Recover Nordic Oy is able to reach ca. 80% of the Finnish population within one hour. The company generated revenue of ca. EUR 40 million in 2022.

Johannes Laumann, CIO of Mutares, comments: „With this transaction, Mutares further builds on its successful presence in Finland, having recently acquired Palmia, where our turnaround program is already starting to show results. We are very happy to welcome Recover Nordic Oy to our portfolio and, as previously mentioned, remain committed to continuing the growth of our presence in Finland and the Nordic region.“

 

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, 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 financial 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. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. Accordingly, a net income in the holding company in the range of EUR 125 million to EUR 150 million is expected for the financial year 2025. 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 in France
CLAI
Matthieu Meunier
Phone: +33 06 26 59 49 05
E-mail: matthieu.meunier@clai2.com



08.07.2023 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:1675633

 
End of NewsEQS News Service

1675633  08.07.2023 CET/CEST

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