Mutares enters into exclusive negotiations in view of acquiring Walor International

• A material step towards a potential transaction realization in Q2 2023
• Market-leading position in the production of forged and machined steel parts in Europe with revenues over EUR 200 million

Munich, 2 February 2023 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has entered into an exclusive negotiation period with its majority shareholder in view of acquiring Walor International. In case of a successful acquisition, the company will strengthen the Automotive & Mobility segment as an add-on to the other steel parts manufacturing specialists (PrimoTECS, Rasche, Cimos and in the near future Magna-Blanquefort activities). The successful realization of the considered transaction is still dependent on final agreements with the company’s creditors and minority shareholders and is expected in the second quarter of 2023 after consultation of the company’s works councils and of the relevant antitrust authorities.

Walor International is headquartered in Laval, France and employs more than 1,200 people generating over EUR 200 million in revenues. The company is a European leader in the manufacturing of forged and machined steel parts, offering a comprehensive range of products for powertrains, steering systems, body-in-white, and passive safety applications for passenger cars. Walor benefits from an extensive industrial footprint focused on France, but is also present in Germany, Romania, Mexico, and China and leverages a comprehensive range of forging, machining, and turning technologies.

Johannes Laumann, CIO of Mutares comments: "With this first step towards a potential acquisition of Walor International, we are once again showing our ongoing commitment to investing in French industrial leaders and allowing the consolidation of steel forging and machining activities on a European level. We are confident that, together with the strong management team of Walor, we will be able to further unlock the company's growth and profitability potential and propel the group towards new record levels and sustainable profitability."
 

About Mutares SE & Co. KGaA

Mutares SE & Co. KGaA, Munich (www.mutares.com), as a listed private equity holding company with offices in Munich (HQ), Amsterdam, Frankfurt, Helsinki, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires medium-sized companies in special situations, based in Europe, which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. For the financial year 2022, consolidated revenues of approx. EUR 4 billion are expected. Based on this, consolidated revenues are to be expanded to approx. EUR 7 billion by 2025. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. Accordingly, a net profit in the holding company in the range of EUR 125 million to EUR 150 million is expected for the financial year 2025. 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).
 

For more information, please contact:

Mutares SE & Co. KGaA

Investor Relations:
Phone +49 89 9292 7760
E-mail: ir@mutares.de

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

Contact for press inquiries in France:
CLAI
Sara Natij sara.natij@clai2.com / +33 (0) 6 99 37 61 76 
Matthieu Meunier matthieu.meunier@clai2.com / +33 (0) 6 26 59 49 05