Put companies on watchlist
Mutares SE & Co. KGaA
ISIN: DE000A2NB650
WKN: A2NB65
About
Company Snapshot
New: Enable Investor Alerts
Be informed about new publications
New: AI Factsheet

Corporate News meets AI! 
Content analysis and summary

EN GIF 300X250

Mutares SE & Co. KGaA · ISIN: DE000A2NB650 · EQS - Company News (309 News)
Country: Germany · Primary market: Germany · EQS NID: 1940921
08 July 2024 07:30AM

Mutares has completed the acquisition of Hirschvogel Incorporated from Hirschvogel Holding GmbH


EQS-News: Mutares SE & Co. KGaA / Key word(s): Investment/Takeover
Ninth acquisition in 2024: Mutares has completed the acquisition of Hirschvogel Incorporated from Hirschvogel Holding GmbH

08.07.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


Ninth acquisition in 2024: Mutares has completed the acquisition of Hirschvogel Incorporated from Hirschvogel Holding GmbH

  • First deal in USA right after the office opening in Chicago supporting Mutares’ growth targets and highlighting the strategic importance of the expansion into the US
  • Add-on investment to strengthen the FerrAl United Group
  • Specialist in the forging and machining of steel parts for OEMs and Tier-1 suppliers

Munich, July 8, 2024 – Walor International S.A.S., part of the FerrAl United Group and ultimately controlled by Mutares SE & Co. KGaA (ISIN: DE000A2NB650), has completed the acquisition of Hirschvogel Incorporated from Hirschvogel Holding GmbH. The company will join the FerrAl United Group as a new add-on investment, strengthening the group’s presence in the US market as a global partner for iron and aluminum-based castings and forgings and their machining and the Automotive & Mobility segment of Mutares. Hirschvogel Incorporated will be renamed Walor North America Inc. further to the acquisition.

Based in Columbus, Ohio, USA, the company is a specialist in the forging and machining of steel components with core capabilities in warm forging, cold forging machining and heat treatment. Its broad product range includes pinions, transmission shafts, rotor shafts, yokes and joints, which the company supplies to a wide range of OEMs and Tier-1 suppliers such as Ford, Metallus and Dana. With around 320 employees, the company generated revenues of approx. EUR 100 million in 2023 with significant growth potential.

The new acquisition is intended to further expand the FerrAl United Group's forging and machining footprint in the USA and realize cross-selling and production synergies within the Group. FerrAl United Group is a globally active automotive supplier of castings and forgings based in Frankfurt/Main, Germany, with more than 30 sites worldwide.

Johannes Laumann, CIO of Mutares, comments: "I am very pleased to announce our first deal in the USA right after our office opening in Chicago, in line with our internationalization strategy. With Hirschvogel Inc. joining the FerrAl United Group, I am highly confident, that we can further expand the company’s market position and realize synergies within all companies in the FerrAl United Group. This achievement marks a significant milestone for us in this enormous growth market. We are optimistic that this is just the beginning of a series of successful transactions, and we look forward to capitalizing on the enormous opportunities the US market has to offer."

 

Company profile of Mutares SE & Co. KGaA

Mutares SE & Co. KGaA, Munich (www.mutares.com), a listed private equity holding company with offices in Munich (HQ), Amsterdam, Bad Wiessee, Frankfurt, Helsinki, London, Madrid, Milan, Chicago, Mumbai, Paris, Shanghai, Stockholm, Vienna and Warsaw, acquires companies in special situations which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. For the fiscal year 2024, consolidated revenues of EUR 5.7 billion to EUR 6.3 billion are expected. Based on this, consolidated revenues are to be expanded to approx. EUR 7 billion by 2025 and EUR 10 billion by 2028. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. On this basis, the Holding Company is expected to generate a net income of EUR 108 million to EUR 132 million for the fiscal year 2024, EUR 125 million to EUR 150 million for the fiscal year 2025 and EUR 200 million for the fiscal year 2028. 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) and have been part of the selection index SDAX since December 2023.

 

For more information, please contact:

Mutares SE & Co. KGaA
Investor Relations
Phone: +49 89 9292 7760
E-mail: ir@mutares.de
www.mutares.com

Press Contact in Germany
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Phone: +49 89 125 09 0333
E-mail: sh@crossalliance.de
www.crossalliance.de

Press Contact in France
CLAI
Matthieu Meunier
Phone: +33 06 26 59 49 05
E-mail: matthieu.meunier@clai2.com

Press Contact in UK
14:46 Consulting
Tom Sutton
Phone: +44 7796 474940
E-mail: tsutton@1446.co.uk



08.07.2024 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.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


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
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1940921

 
End of News EQS News Service

1940921  08.07.2024 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1940921&application_name=news&site_id=boersengefluester~~~ace3d64b-2049-452a-8d18-fbc8044c4b5f
Visual performance / price development - Mutares SE & Co. KGaA
Smart analysis and research tools can be found here.

This publication was provided by our content partner EQS3.

EQS Newswire
via EQS - Newsfeed
EQS Group AG ©2024
(DGAP)
Contact:
Karlstraße 47 D-80333 München
+49 (0) 89 444 430-000

 

SMART * AD
EN GIF 970X250

P R O D U C T   S U G G E S T I O N S

The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.


The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.

If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.

For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.


1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.