Mutares has successfully completed the acquisition of Toshiba Transmission & Distribution Europe SpA from the Toshiba Group

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DGAP-News: Mutares SE & Co. KGaA / Keyword(s): Investment/Redemption

Mutares has successfully completed the acquisition of Toshiba Transmission & Distribution Europe SpA from the Toshiba Group

22.02.2022 / 07:30
The issuer is solely responsible for the content of this announcement.

Mutares has successfully completed the acquisition of Toshiba Transmission & Distribution Europe SpA from the Toshiba Group

  • Complementary acquisition to the Blackke-Dürr group
  • Engineering-Procurement-Construction service provider for energy transmission and distribution
  • Executed projects worth more than 350 million euros in recent years
  • New company name: Balcke-Dürr Energy Solutions

Munich/Milan, February 22, 2022 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of Toshiba Transmission & Distribution Europe SpA (the “Company”) from the Toshiba group in addition to the Balcke-Dürr group. The Company and the Toshiba Group will continue to work together as technology partners for the realization of existing projects as well as for future business opportunities. The company now operates under the new name Balcke-Dürr Energy Solutions.

Based in Genoa, Italy, the company is a renowned supplier of complete turnkey projects in the field of energy, operating mainly in Europe and the Mediterranean countries. It delivers complete turnkey projects such as high and medium voltage substations, battery storage systems, smart grid solutions and renewable energy power plants and has executed projects worth more than 350 million euros in recent years. The complementary acquisition of the company will allow Balcke-Dürr to enter the renewable energy sector, which is in line with Balcke-Dürr’s strategy to become a supplier of sustainable solutions.

Mutares SE & Co. KGaA Company Profile
Mutares SE & Co. KGaA, Munich (www.mutares.com), as a listed private equity holding company with offices in Munich (headquarters), Amsterdam, Frankfurt, London, Madrid, Milan, Paris, Stockholm and Vienna , acquires small and medium-sized companies and parts of groups in special situations headquartered in Europe with significant potential for operational improvement and which are resold after undergoing a process of repositioning and stabilization. Mutares actively supports and develops its portfolio companies with its own investment and operating teams as well as through strategic add-on acquisitions. With a focus on the sustainable growth of portfolio companies, the objective is to achieve a significant increase in value with an ROIC (return on invested capital) from 7 to 10 times on the total investment. In fiscal year 2020, Mutares generated consolidated annual revenue of approximately €1.6 billion with more than 12,000 employees worldwide within the group. For the 2021 financial year, consolidated revenues of at least 2.4 billion euros are already expected. On this basis, consolidated revenues are to be increased to at least €5 billion by 2023. As the portfolio grows, advisory revenues also increase, which together with portfolio dividends and exit proceeds , go to Mutares Holding. At this level, the medium-long term objective of net income linked to dividends is 1.8% to 2.2% of consolidated turnover. Mutares is strongly committed to a sustainable dividend policy consisting of a base dividend and an exit dependent performance dividend. The shares of Mutares SE & Co. KGaA are listed on the Frankfurt Stock Exchange under the symbol “MUX” (ISIN: DE000A2NB650).

For more information please contact:

Mutares SE & Co. KGaA
Investor Relations
Telephone +49 89 9292 7760
Email: [email protected]
www.mutares.de

Contact the press
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Telephone +49 89 125 09 0333
Email: [email protected]
www.crossalliance.de

Contact for press inquiries in France
CLAI
Gaëtan Commault – [email protected] / +33 06 99 37 65 64
Dorian Masquelier – [email protected] / +33 07 77 26 24 57

22.02.2022 Broadcast of a Corporate News, transmitted by the DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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