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  • 20 Nov 23
Mutares - PE investor focused on special situations

Mutares (MUX) predominantly invests in corporate carve-outs (80%+ of all deals) where it seeks to drive an operational turnaround, and often also executes a ‘buy-and-build’ strategy. MUX looks for companies with an annual turnover of €100–750m, with its ‘sweet spot’ in the range of €200–300m generated across multiple production sites. Its focus is on four major sectors: automotive & mobility (which is early-cycle), engineering and technology (project-driven, late-cycle), goods and services (cons

Companies: Mutares SE & Co. KGaA

Edison
  • 29 Dec 21
Mutares - MUX

Edison Investment Research is terminating coverage on Gamesys Group (GYG), Mutares (MUX) and MedservRegis (MDS). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant. Previously published reports can still be accessed via our website.

Companies: Mutares SE & Co. KGaA

Edison
  • 21 Sep 21
Mutares - Thinking bigger

Mutares (MUX) closed seven acquisitions in H121 and another five were closed or announced after the reporting date. Management highlights that in the current uncertain environment, there are plenty of opportunities for turnaround investors and it reviews a high number of potential investments simultaneously. MUX also closed two larger deals that required it to provide capital to underlying companies – it secured funding for Lapeyre (€20m) and Light Mobility Solutions (€15m). Management expects m

Companies: Mutares SE & Co. KGaA

Edison
  • 22 Apr 21
Mutares - Capturing the opportunities

Mutares (MUX) reported an exceptional year in terms of portfolio expansion, ending 2020 with 20 platform investments (vs 13 in FY19). These companies generate €2.2bn revenues annually and MUX’s income from management and consulting increased 61% y-o-y to €66.5m. The proceeds from the recent record-quick exit from Nexive (closed in January 2021) allowed management to propose a 50% higher year-on-year dividend, which implies a 6.5% yield on the current share price.

Companies: Mutares SE & Co. KGaA

Edison
  • 01 Dec 20
Mutares – executive interview
mutares-executive-interview-01-12-2020
  • 25 Aug 20
Mutares - Rapidly expanding portfolio

Mutares (MUX) specialises in restructuring distressed companies and is taking advantage of the current economic downturn caused by the pandemic, as large capital groups are selling unprofitable divisions. Including announced but not yet finalised transactions, the portfolio grew to 18 companies vs 13 at end-FY19. While tough conditions in European industrials sectors weighed on MUX’s H120 results (it consolidates all its entities in full), management highlighted that the portfolio has returned t

Companies: Mutares SE & Co. KGaA

Edison
  • 21 Apr 20
Mutares - Opportunities in a distressed environment

Mutares (MUX) specialises in restructuring distressed companies and expects new opportunities to arise amid the current crisis caused by the coronavirus outbreak. STS’s plants located in China have returned to operations and MUX’s focus in terms of current restructuring actions is in benefiting from the end of lockdown and improved economic activity. In 2019, MUX was particularly active in M&A, with 10 investments announced, including six new platforms. These resulted in significant gains on bar

Companies: Mutares SE & Co. KGaA

Edison
  • 09 Dec 19
Executive interview - Mutares at EKF 2019
executive-interview-mutares-at-ekf-2019-09-12-2019
  • 11 Nov 19
Mutares - Eight acquisitions so far this year

Mutares (MUX) specialises in restructuring distressed companies and has been very active in M&A this year, with eight deals announced to date. It has concluded two platform investments in the automotive and mobility segment and acquired three goods and services platforms. This provides additional diversification following the stronger focus on expanding the engineering and technology business in FY18. That said, the latter remains MUX’s key value driver for now (64% of NAV at end-June 2019) and

Companies: Mutares SE & Co. KGaA

Edison
  • 27 Aug 19
Mutares - Seven months, seven acquisitions

Mutares (MUX) specializes in restructuring distressed companies and has been very active in M&A this year, with seven deals announced to date. It has concluded two platform investments in the automotive and mobility segment and acquired two goods and services platforms. This provides additional diversification following the stronger focus on expanding the engineering and technology business in FY18. That said, the latter remains MUX’s key value driver for now (64% of NAV at end-June 2019) and wa

Companies: Mutares SE & Co. KGaA

Edison
  • 10 Dec 18
Executive Interview – Mutares
executive-interview-mutares-10-12-2018
  • 10 Oct 18
Mutares - New platform investments on board

After reporting c €9m of adjusted EBITDA in H118, Mutares expects FY18 earnings to reach €20–30m. This should be assisted by successful turnarounds and organic growth of portfolio entities, beneficial M&A activity and the deconsolidation of Zanders and Artmadis, which are currently being liquidated. Management expects one or two additional transactions (either acquisitions or divestments) to be initiated and completed in the remainder of 2018, on top of the Knorr-Bremse deal which is already in

Companies: Mutares SE & Co. KGaA

Edison
  • 28 Jun 18
Mutares - Buy-and-build strategy fuels expansion

Successful turnarounds supported by add-on acquisitions allowed Mutares (MUX) to post record FY17 results. Improvements across the P&L resulted from profitable exits as well as bargain purchases. The shift in strategy towards platform investments is expected to further validate the benefits of the buy-and-build approach originally introduced in STS Group. MUX is now trying to replicate the concept for Balcke-Dürr Group and La Meusienne. Despite the recent positive developments, MUX’s shares have

Companies: Mutares SE & Co. KGaA

Edison
  • 28 Sep 17
- High transaction activity adds momentum

Mutares continued to add new investments to its portfolio in H117, in particular enlarging the STS Group through add-on acquisitions. H117 earnings were supported by the disposals of EUPEC Germany and Fertigungstechnik Weissenfels (FTW). Consequently, portfolio NAV went up by 3.7% ytd to €319.4m as at end-June. Despite the positive FY17 outlook for key holdings and upward potential associated with ongoing restructuring projects, Mutares’s shares trade at a 36% discount to NAV.

Companies: Mutares SE & Co. KGaA

Edison
  • 10 May 17
European restructuring expertise

mutares AG specialises in the acquisition and restructuring of unlisted companies in Europe and currently holds 13 investments. Shareholder value is created over time as profitable exits boost NAV and enable the company to pay special dividends. A successful realisation has already been achieved at the start of the year and the company intends to complete a further one or two exits this year. mutares’s shares have delivered a compound annual total return of 34% since listing in 2008. Trading at

Companies: Mutares SE & Co. KGaA

Edison

Mutares SE & Co. KGaA

Company Profile

Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on Mutares SE & Co. KGaA. We currently have 12 research reports from 1 professional analysts.

Latest News/RNS

(more news)
Date Source Announcement
03Jun24 06:30 EQS-News EQS-News: Mutares hat die Übernahme der FSL Ladenbau GmbH erfolgreich abgeschlossen
03Jun24 06:30 EQS-News EQS-News: Mutares has successfully completed the acquisition of FSL Ladenbau GmbH
31May24 06:30 EQS-News EQS-News: Third exit in 2024: Mutares has entered into exclusive negotiations for the sale of Repartim group to an institutional investor
31May24 06:30 EQS-News EQS-News: Dritter Exit im Jahr 2024: Mutares nimmt exklusive Verhandlungen über den Verkauf der Repartim Gruppe an einen institutionellen Investor auf
14May24 13:30 EQS-News EQS-News: Fünfte Übernahme im Jahr 2024: Mutares hat eine Vereinbarung zur Übernahme der FSL Ladenbau GmbH unterzeichnet
14May24 13:30 EQS-News EQS-News: Fifth acquisition in 2024: Mutares has signed an agreement to acquire FSL Ladenbau GmbH
08May24 19:35 EQS-News EQS-News: Zweiter Exit im Jahr 2024: Mutares hat die iinovis Group erfolgreich an Accursia Capital verkauft
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