Archive for category: FAU

Press Releases 31. October 2023

Tenth acquisition in 2023: Mutares has successfully completed the acquisition of Walor International and its subsidiaries

• Next add-on investment for FerrAl United consolidating the activities of Mutares in the production of forged and machined steel parts in Europe
• Revenues of ca. EUR 240 million expected for the year 2023
• Provider of forged and machined parts for the automotive industry as well as industrial vehicles

Munich, October 31, 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of Walor International from its shareholders Lorinvest, BNP Paribas Développement and Sodero Gestion. The company will strengthen the Mutares Group’s strong presence in the production of metal parts for automotive OEMs and Tier-1 suppliers.

Walor International is headquartered in Laval, France, and employs more than 1,200 staff across 11 production sites worldwide. For the year 2023, revenues of ca. EUR 240 million are expected. The company is a European leader in manufacturing forged and machined steel parts, offering a comprehensive range of products for powertrain, steering systems, body-in-white and passive safety applications for passenger cars. Walor benefits from an extensive industrial footprint focused on France but is also present in Germany, Romania, Mexico and China and leverages a comprehensive range of forging, machining and turning technologies.

Press Releases 10. August 2023

Sixth acquisition in 2023: Mutares signed an agreement to acquire the forging business in Germany of CIE Automotive

• Add-on acquisition for FerrAl United Group to strengthen the Automotive & Mobility segment
• Revenues of ca. EUR 220 million
• Manufacturer of forged and machined components for the European truck market

Munich, August 10, 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire three forging businesses, namely Gesenkschmiede Schneider, Schöneweiss & Co. and Falkenroth Umformtechnik, from CIE Forgings Germany, ultimately owned by CIE Automotive S.A. The transaction will further strengthen the FerrAl United Group, a supplier of multi-material machined solutions and systems, combining the Mutares portfolio companies PrimoTECS Group (including Rasche Umformtechnik and BEW-Umformtechnik), Cimos, and MMT-B (Manufacturing Mobility of Tomorrow – Bordeaux), and most recently the acquisition of SELZER Group signed in July 2023. The enterprise value of the transaction amounts to EUR 55.5 million minus debt. The closing of the transaction is expected in the third quarter of 2023.

The three businesses are located in Germany and together employ around 600 people. The businesses are specialized in forging and machining with a focus on customers in the truck market, and thus perfectly complement the FerrAl United Group. Synergies are expected within the range of customers and production machinery for forging and friction welding capabilities as well as regarding operational improvement within procurement and cross-selling. Furthermore, the combination of all three businesses with the FerrAl United Group will help to leverage operational work, increase competitiveness and supported by the Mutares team bring access to new technologies and expertise, amongst others.

Johannes Laumann, CIO of Mutares, comments: “With this second acquisition for our newly formed global Tier-1 automotive supplier FerrAl United Group, we are strengthening our presence in the forging business with focus on the stable trucks segment and thus will further diversify our product offering. I am confident that the acquisition from CIE will bring significant benefits and improve synergies.”

Press Releases 17. March 2023

First acquisition in 2023: Mutares signed agreement to acquire majority stake of BEW-Umformtechnik from Marigold Capital

• Add-on acquisition for PrimoTECS Group to strengthen the Automotive & Mobility segment
• Revenues of approx. EUR 55 million
• Producer of forged parts

Munich, 17 March 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire 87.5% of the BEW-Umformtechnik GmbH, a producer of highly stressed forged parts, from the majority shareholder Marigold Capital as well as the minority shareholder Markus Schramek. The closing of the transaction is expected by the end of April 2023, subject to antitrust approval.

The company is headquartered in Rosengarten, Germany and operates mainly in Europe with a strong presence in Germany. BEW employs around 160 people, generating approx. EUR 55 million in revenues and covers the entire value chain from CAD design, tooling, material separation, forging, heat treatment and finishing to mechanical processing of the individual forged parts. The products are used mainly for the automotive industry but also serve the agriculture, construction and machine-building industries.

BEW has a modern machine park and will create high synergies for the Mutares Automotive & Mobility segment. Particularly in combination with Rasche Umformtechnik GmbH, this add-on acquisition is an ideal complement strategically as well as operationally.

Johannes Laumann, CIO of Mutares, comments: “I am pleased to announce our first buy-side transaction this year. The automotive sector currently offers a variety of opportunities. The global market for forging products is expected to continue to grow significantly and with BEW I am confident that we will highly benefit from this upswing. In combination with Rasche Umformtechnik, PrimoTECS, Cimos and MMT-Bordeaux, the acquisition of Magna, this offers us the opportunity to gradually establish a second major player in the market alongside Amaneos.”

Press Releases 2. February 2023

Mutares enters into exclusive negotiations in view of acquiring Walor International

• A material step towards a potential transaction realization in Q2 2023
• Market-leading position in the production of forged and machined steel parts in Europe with revenues over EUR 200 million

Munich, 3 February 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has entered into an exclusive negotiation period with its majority shareholder in view of acquiring Walor International. In case of a successful acquisition, the company will strengthen the Automotive & Mobility segment as an add-on to the other steel parts manufacturing specialists (PrimoTECS, Rasche, Cimos and in the near future Magna-Blanquefort activities). The successful realization of the considered transaction is still dependent on final agreements with the company’s creditors and minority shareholders and is expected in the second quarter of 2023 after consultation of the company’s works councils and of the relevant antitrust authorities.

Walor International is headquartered in Laval, France and employs more than 1,200 people generating over EUR 200 million in revenues. The company is a European leader in the manufacturing of forged and machined steel parts, offering a comprehensive range of products for powertrains, steering systems, body-in-white, and passive safety applications for passenger cars. Walor benefits from an extensive industrial footprint focused on France, but is also present in Germany, Romania, Mexico, and China and leverages a comprehensive range of forging, machining, and turning technologies.

Johannes Laumann, CIO of Mutares comments: “With this first step towards a potential acquisition of Walor International, we are once again showing our ongoing commitment to investing in French industrial leaders and allowing the consolidation of steel forging and machining activities on a European level. We are confident that, together with the strong management team of Walor, we will be able to further unlock the company’s growth and profitability potential and propel the group towards new record levels and sustainable profitability.”