Supriya Ghosh (Editor)

Mutares

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Traded as
  
FWB: MUX

Headquarters
  
Germany

Founded
  
2008

Type of business
  
Aktiengesellschaft

Website
  
www.mutares.com

Revenue
  
850 million EUR (2015)

Number of employees
  
4,100

Mutares wwwinvestresearchnetwpcontentuploads201506

Key people
  
Axel Geuer, CEO Robin Laik, CEO Mark Friedrich, CFO Kristian Schleede, COO Wolf Cornelius, CRO Micha Bloching chairman

Stock price
  
MUX (ETR) € 13.92 -0.72 (-4.92%)22 Mar, 5:36 PM GMT+1 - Disclaimer

mutares AG (styled mutares) is a Germany-based holding company aiming to acquire medium-sized companies in turnaround situations and to facilitate their restructuring needs. mutares‘ activities are not limited to merely holding and administrating its holdings, but consequently develops them. For this purpose mutares deploys own teams on location to offer operative support in the turnaround process of its associated companies.

Contents

Since the commencement of operative business in 2008 mutares has acquired 25 companies or groups and carried out several sales of companies. The initial acquisitions all disclosed annual revenues below €10 million. mutares strives to acquire companies with annual revenues between €50 million and €300 million. In September 2015 the company holds 12 independent portfolio companies in Europe with sites in Asia, Africa and Central America. The company portfolio is divided into two divisions: Industry and Consumer Goods.

With effect from May 14, 2014 the shares of mutares AG are being traded in the Entry Standard of the Frankfurt Stock Exchange. mutares has a market capatilization of around €300 million.

Development of the mutares-Group

Since the commencement of operative business mutares has continuously expanded its portfolio as well as its consolidated group revenues. In 2015 the mutares-Group, consisting of twelve associated companies, achieved revenues amounting to € 850 million after eight years of business activity. In 2012 the fiscal year was changed to match the calendar year. Up to the short fiscal year 2012 the business year went from April to March.

 * Short fiscal year from April until December.

Elastomer Solutions

The Elastomer Solutions Group is a producer of rubber moulding parts for the automobile industry, specifically of cable bushings designed to protect wire harnesses in automobile wiring systems. The group employs approximately 300 employees at 5 sites located in Germany, Morocco, Mexico, Portugal and Slovakia.

The Elastomer Solutions Group was sold by the Diehl Group to mutares in August 2009

In the fiscal year 2014, revenues amounted to around €23 million.

Fertigungstechnik Weißenfels

Fertigungstechnik Weißenfels develops and produces NC rotary table systems and sub-assemblies for the machine tool industry. In addition, the company is establishing the business segment gondolas with torque generators for smaller wind turbine stations. The company employs around 100 employees at the site in Weißenfels near Leipzig, Germany.

Fertigungstechnik Weißenfels was a part of the Römheld-Group until its acquisition in February 2010.

In the fiscal year 2014 revenues amounted to around €10 million.

Eupec

EUPEC is a European pipeline coatings provider for oil, gas and water. EUPEC supplies coatings for various applications in the on- and off-shore field. For example EUPEC supplied cement coatings for pipelines of the Nord Stream-Project from 2009 until 2011. The company employs 120 employees at locations in France and Germany.

EUPEC was sold by the indonesian Korindo Group to mutares in January 2011.

In the fiscal year 2014 revenues amounted to around €63 million.

GeesinkNorba

GeesinkNorba is a provider of waste disposal solutions, especially of vehicle bodies for waste compactor vehicles and of stationary waste containers. GeesinkNorba employs around 390 employees in the Netherlands, Germany, England, France, Poland, Rumania, Sweden and Spain. The product portfolio includes compact waste bodies, container lift systems and stationary compactors. The company is represented in several European countries and operates several assembly plants.

The company was founded in 1875 in the Netherlands and sold to mutares in February 2012.

In the fiscal year 2014 revenues amounted to around €72 million.

STS Acoustics

STS Acoustics is a provider of sound and heat absorption solutions for the engine compartments and interiors of vehicles. STS Acoustics employs around 730 employees across its five sites in Italy. Its customer base includes truck manufacturers such as Iveco, Volvo, Scania and Daimler, as well as Italian automobile manufacturers such as Fiat, Alfa Romeo, Ferrari and Maserati.

STS Acoustics was acquired by mutares in July 2013 from the Autoneum Holding AG.

In the fiscal year 2014 revenues amounted to around €116 million.

A+F Automation + Fördertechnik

A+F Automation + Fördertechnik GmbH is a globally well-known provider of final packaging machinery with expertise in designing high quality and integrated packaging solutions. A+F employs around 175 employees at its Site in Kirchlengern, Germany.

A+F Automation + Fördertechnik was acquired by mutares in December 2014 from the OYSTAR Group.

In the fiscal year 2014 revenues amounted to around €28 million.

BSL Pipes and Fittings

BSL Pipes and Fittings SAS is a French manufacturer of welded stainless steel pipes and fittings with a length up to 12 meters. BSL Pipes and Fittings SAS employs around 100 people at its site in Billy-sur-Aisne, France.

BSL Pipes and Fittings SAS was acquired by mutares in August 2015 from the Génoyer SA.

In the fiscal year 2014 revenues amounted to around €21 million.

Klann Packaging

KLANN Packaging is a manufacturer of metal packaging in Landshut, Germany. The core competency of the company is the development, design and production of tinplate promotion and sale packaging. Besides the embossing, KLANN Packaging also implements imprints to its products.

The HUBER-Group parted with its decorative box segment in June 2011 in order to focus on its core businesses.

In the fiscal year 2014 revenues amounted to around €14 million.

Artmadis

Artmadis is a French wholesaler for household goods. Its customers include supermarket chains such as Carrefour or Intermarché, as well as specialized retailers and online order houses. The company employs around 240 employees at 3 locations in France.

Artmadis was sold to mutares by the French ARC International in August 2012.

In the fiscal year 2014 revenues amounted to around €72 million.

Zanders

Zanders GmbH is an internationally renowned manufacturer of specialty paper, founded in 1829 in Bergisch Gladbach, Germany. In 2015 Zanders employed around 480 employees.

Zanders was sold to mutares in May 2015 by the Metsä Group.

In the fiscal year 2014 revenues amounted to around €90 million.

Grosbill

Grosbill is a omni-channel distributor specialized in IT products and consumer electronics. It is one of the leading electronic retailers in the french consumer market with excellent customer satisfaction. It employes 150 persons via its website and its network of nine stores.

Grosbill was sold to mutares AG in 2015 by the Auchan Group.

In the fiscal year 2014 revenues amounted to around €109 million.

Norsilk

Norsilk SAS is a French manufacturer of wood products with focus on the sale of machined timber. It manufactures wood products for construction purposes and distributes them to the French market serving a well-diversified customer base in the segments DIY, merchants, and industrials.

mutares acquired Norsilk in October 2014 from the Metsä Group.

At the production sites in Honfleur and Boulleville in France, Norsilk generated revenues of EUR 45m in 2014 and has 115 employees.

References

Mutares Wikipedia