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MarketScreener Homepage  >  Equities  >  Xetra  >  Mutares AG    MUX   DE000A2NB650

MUTARES AG

(MUX)
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Mutares : completes acquisition of Plati Elettroforniture from Deren Group

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06/17/2019 | 01:35am EDT

DGAP-News: Mutares AG / Key word(s): Private Equity/Takeover
Mutares AG completes acquisition of Plati Elettroforniture from Deren Group

17.06.2019 / 07:30
The issuer is solely responsible for the content of this announcement.


Mutares completes acquisition of Plati Elettroforniture from Deren Group

  • Mutares Italy completes acquisition announced in May 2019
  • Company with annual sales of EUR 38 million
  • Product portfolio comprises cable harnesses, automotive cables, connectors, PVC extrusion, and electromechanical assemblies
  • Together within the portfolio segment Automotive & Mobility the company will use existing sales and operational synergies

Munich/ Milano, June 14, 2019 - Special situation investor Mutares (ISIN: DE000A2NB650) has completed the acquisition of 80% of Plati Elettroforniture S.p.A. from Chinese Deren Group. The transaction is an acquisition benefiting from synergies to Elastomer Solutions Group, an Automotive supplier in Mutares' portfolio. Plati has five sites with its headquarter near Bergamo (Italy) and four subsidiaries in Poland, Ukraine, Hungary and Morocco. This transaction represents one of already five acquisitions in 2019 for Mutares which comes down to one acquisition per month. For 2019 Mutares expects more to come.

Plati is an internationally active supplier of cable harnesses to customers in the automotive, consumer goods healthcare and telecommunications sectors. Its product portfolio includes cable harnesses, automotive cables, connectors, PVC extrusion, and electromechanical assemblies. The Group employs approx. 850 employees at its five sites and generated revenues of EUR 38 million in fiscal 2018. Deren Group will continue to be a strategic partner of Plati for the development of the Asian market.

Following the acquisition, Elastomer and Plati will benefit from each other's sales and operational expertise. The existing footprint is very complementary for the profitability and growths strategies of both companies. For the time being both entities will proceed separate strategies but take the benefits out of being governed by the same umbrella of the Mutares Automotive Segment. The expected synergies will result in improved balance sheets and profitability numbers.

Company profile of Mutares AG

Mutares AG, Munich (www.mutares.de), acquires medium-sized companies and parts of groups with headquarter in Europe that are being sold in the course of a repositioning process at their owners and show a clear potential for operational improvement. Mutares actively supports and develops its portfolio companies with its own investment and consulting teams as well as through acquisitions of strategic add-ons. The aim is to achieve a clear value increase with a focus on sustainable, long-term growth of the portfolio company. In 2018, Mutares' portfolio companies generated consolidated revenues of EUR 865 million and employed more than 4,700 people worldwide. The shares of Mutares AG are listed on Frankfurt Stock Exchange under the ticker symbol "MUX" (ISIN: DE000A2NB650).

For more information:

Mutares AG
Corinna Lumpp
Manager Investor Relations & Strategy
Tel. +49 89 9292 7760
Email: ir@mutares.de
www.mutares.de

Press Contact
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Tel. +49 89 1250 90330
Email: sh@crossalliance.de
www.crossalliance.de



17.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Mutares AG
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: Scale 30
Listed: Regulated Unofficial Market in Berlin, Frankfurt (Scale), Stuttgart, Tradegate Exchange
EQS News ID: 824725

 
End of News DGAP News Service

824725  17.06.2019 

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© EQS 2019
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