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MUTARES SE & CO. KGAA

(MUX)
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Fourth exit this year: Mutares has received a put option to sell TréfilUnion, EUPEC and La Meusienne

07/01/2021 EDT

Munich, 1 July 2021 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has received a put option to sell its subsidiaries TréfilUnion, EUPEC and La Meusienne by Prof. Dr. Frank Richter, entrepreneur and co-founder of Swiss Global Investment Group AG. The transaction is still pending on the works council opinion and is expected to be closed before the end of the year 2021.

TréfilUnion is a manufacturer of iron wire and prestressing steel, EUPEC is a supplier of coatings for oil and gas pipelines and La Meusienne is a renowned manufacturer of welded stainless-steel tubes. All three companies are located in France and generate total revenues of approx. EUR 80 million. This combination of three companies which operate in complementary industries benefits from a reduced impact of economic market cycles. It is the alliance of the product-oriented activities of TréfilUnion and La Meusienne with the project-based nature of EUPEC which allows significant growth upside while recurring income is secured.

EUPEC, which was acquired in 2012 and La Meusienne, which was acquired in 2017 have successfully completed a turnaround program and recovered from a heavily loss-making period prior to the acquisition by Mutares. TréfilUnion, since its acquisition in 2019, has also already achieved significant progress in its turnaround program implemented by Management with the support of Mutares operations teams.

For the portfolio companies of Prof. Richter this acquisition is an opportunity to further leverage on synergies of customers, suppliers and cost-savings resulting from the combination of these three businesses. This acquisition is also an opportunity to further capitalize on three companies already sharing some of their Management teams, operations and support functions, working together on a daily basis.

For Mutares this transaction is a further step towards the consolidation of its portfolio and is in line with the Company's strategy to concentrate on larger transactions. Prof. Richter is considered a suitable partner to continue the next challenge and execute the companies' development plans while realizing untapped synergies of such a combination of assets.

Disclaimer

Mutares SE & Co. KgaA published this content on 01 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 July 2021 16:23:49 UTC.


© Publicnow 2021
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Sales 2021 2 238 M 2 623 M 2 623 M
Net income 2021 237 M 277 M 277 M
Net Debt 2021 130 M 152 M 152 M
P/E ratio 2021 1,77x
Yield 2021 5,95%
Capitalization 421 M 493 M 493 M
EV / Sales 2021 0,25x
EV / Sales 2022 0,16x
Nbr of Employees 15 515
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Number of Analysts 4
Last Close Price 27,30 €
Average target price 31,38 €
Spread / Average Target 14,9%
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Managers and Directors
Robin Laik Chief Executive Officer
Mark Friedrich Chief Financial Officer
Volker Rofalski Chairman-Supervisory Board
Christian Bardorsch Manager-Information Technology
Kristian Schleede Chief Operating & Restructuring Officer
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