Mutares SE & Co. KGaA: Successful integration of NEM Energy and Balcke-Dürr to one Group to materialize synergies

Mutares: Successful integration of NEM Energy and Balcke-Dürr to one Group to materialize synergies

• Successful integration of NEM Energy and Balcke-Dürr
• "NEM Energy Group" with revenues of approx. EUR 340 million
• Strengthening of the product and service portfolio and realization of synergies

Munich, 3 May 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully executed the legal integration of Balcke-Dürr GmbH into NEM Energy B.V. On 29 March 2023, NEM Energy B.V. has fully acquired Balcke-Dürr GmbH and its subsidiaries. The companies are suppliers and service providers of heat recovery steam generators, heat exchangers and reactors and belong to the Engineering & Technology segment of the Mutares Group. Balcke-Dürr has been part of the Mutares portfolio since 2016 and NEM was acquired in December 2022.

With more than 130 years of experience, the Balcke-Dürr Group offers innovative energy efficiency solutions for utilities and companies active in the nuclear, gas power generation as well as chemical industries. With the integration of both companies, the new “NEM Energy Group”, will achieve approx. EUR 340 million in revenues and employs around 500 employees across 4 different locations in Germany and the Netherlands.

Following the successful integration, Balcke-Dürr will become a part of the “NEM Energy Group”. This allows both companies to exploit significant synergies in various fields, for example, to increase the service business by further expanding the product offering and addressing the global boiler fleet of NEM Energy B.V. However, the Balcke-Dürr entities will continue to run under their legal name. In the future, both companies will work closely together to strengthen and expand the joint product and service portfolios.

Johannes Laumann, CIO of Mutares SE & Co. KGaA, comments: “The integration of the Balcke-Dürr Group with NEM Energy B.V will materialize significant synergies and provide a broad range of service offerings to the extended customer base.”

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

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