Press Releases14. September 2022
Mutares has successfully completed the acquisition of Cimos
- Manufacturer of turbocharger, powertrain and electrification components for the automotive industry
- Normalized revenues of just under EUR 200 million
- Synergy effects with the KICO and ISH Group
Munich, 14 September 2022 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of Cimos d.d. from TCH S.r.L. The closing of this transaction marks the first acquisition of the new office in Vienna and strengthens the Automotive & Mobility segment as a new platform acquisition.
Cimos is a leading producer of critical automotive components such as compressor and center housings, engine brackets, brake discs and drums, gearbox parts, nozzle rings and flywheels and is highly complementary to Mutares´ investments KICO and ISH Group. Furthermore, Cimos allows Mutares to establish a strategic automotive platform enabling the broader Automotive & Mobility portfolio to tap into a very well invested machine park at competitive production costs.
The company has seven production plants across Slovenia, Croatia, Serbia and Bosnia and Herzegovina as well as one logistics plant in Slovenia and employs a total of approximately 2,000 people. The company expects revenues of just under EUR 200 million in 2022, which is slightly above the announced target.