Mutares completes the acquisition of long-established Steinmüller Engineering GmbH from IHI Group 

• German specialist in thermal-process engineering 
• Total output of close to EUR 100 million  
• More than 1,300 projects delivered for over 500 customers in 80 countries 

Munich, October 15, 2026 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of long-established Steinmüller Engineering GmbH (“Steinmüller”), a German developer of thermal-process engineering solutions for the energy and industrial sectors, from the IHI Corporation (“IHI Group”), in a share deal.

The company traces its roots back to 1874 and became part of the Japanese IHI Group in 2014. It now provides engineering and procurement services as well as turnkey EPC solutions for combustion and incineration systems, air pollution control and heat transfer, mainly for clients in the utility, waste, chemical and industrial sectors. Its offering is underpinned by a portfolio of European patents. The company employs approximately 170 people and is headquartered in Gummersbach, Germany. It generated a total output of close to EUR 100 million in the last financial year and has delivered more than 1,300 projects in the area of thermal-process engineering for over 500 customers in 80 countries. 

The acquisition marks a new platform investment in the Energy & Technology segment and strengthens Mutares in the energy transition and industrial decarbonization space, an industry benefiting from strong regulation-driven growth. With deep engineering know-how and a comprehensive patent portfolio, Steinmüller offers substantial development and value creation potential. The transaction also reflects Mutares' broader international network and marks its latest acquisition from the portfolio of a leading Japanese industrial group. 
 

Company profile of Mutares SE & Co. KGaA 

Mutares SE & Co. KGaA, Munich (www.mutares.com), is a listed private equity holding company with offices in Munich (HQ), Amsterdam, Bad Wiessee, Chicago, Frankfurt, Helsinki, London, Madrid, Milan, Mumbai, Paris, Shanghai, Stockholm, Tokyo, Warsaw, and Vienna, that acquires companies in transition that show significant potential for operational improvement and are resold after stabilization and repositioning. The company pursues a sustainable minimum dividend policy. 

The shares of Mutares SE & Co. KGaA are traded on the Regulated Market of the Frankfurt Stock Exchange under the symbol “MUX” (ISIN: DE000A2NB650) and are part of the selection index SDAX. 

For further information, please contact: 

Mutares SE & Co. KGaA 
Investor Relations 
Phone: +49 89 9292 7760 
Email:ir@mutares.de 
www.mutares.com 

Press Contact in Germany 
CROSS ALLIANCE communication GmbH 
Susan Hoffmeister 
Phone: +49 89 125 09 0333 
Email: sh@crossalliance.de 
www.crossalliance.de 

Press Contact in France 
VAE SOLIS COMMUNICATIONS 
Marie-Caroline Garnier 
Phone: +33 6 22 86 39 17 
Email: mutares@vae-solis.com 

Press Contact in UK and USA 
14:46 Consulting 
Tom Sutton 
Phone: +44 7796 474940 
Email: tsutton@1446.co.uk