DGAP-News: Mutares SE & Co. KGaA / Key word(s): Investment/Takeover 03.03.2022 / 18:00 The issuer is solely responsible for the content of this announcement.
Second acquisition in 2022: Mutares acquires ATI's Sheffield Operations
Supplier of forged and machined products
Revenues of approx. EUR 80 million expected in 2022
Munich, 3 March 2022 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire the Sheffield Operations of Allegheny Technologies Incorporated (ATI). This acquisition will strengthen the Engineering & Technology segment as a new platform investment. The closing of the transaction is expected by the end of the first quarter of 2022, subject to the satisfaction of customary regulatory approvals and other conditions. Rebranding of the entity as Special Melted Products Limited will follow.
The operation is located in Sheffield, UK, employs around 190 people and has expected revenues of approx. EUR 80 million for 2022. ATI Sheffield utilises Vacuum Induction Melting (VIM), secondary remelting and rotary precision forging to produce a range of high integrity products in low alloy steels, stainless steels and nickel-based super alloys. Through its extensive in-house metallurgical and forging process competencies, the Sheffield Operations can supply a wide range of products and reduce supply chain complexity for its customers, serving as a "one-stop-shop."
"This transaction marks our second acquisition in 2022, strengthening our Engineering & Technology segment. We are happy to welcome ATI Sheffield into our portfolio, as a well-known supplier in the market with an excellent reputation for quality and services and multiple opportunities for operational improvement and growth," comments Johannes Laumann, CIO of Mutares.
Company profile of 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, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires small- and medium-sized companies and parts of groups in special situations with headquarters in Europe that show significant potential for operational improvement and are sold again after undergoing a repositioning and stabilization process. Mutares actively supports and develops its portfolio companies with its own investment and operations teams as well as through acquisitions of strategic add-ons. With a focus on sustainable growth of the portfolio companies, the objective is to achieve a significant increase in value with a ROIC (return on invested capital) of 7 to 10 times on the total investment. In the financial year 2020, Mutares generated consolidated annual revenues of around EUR 1.6 billion with more than 12,000 employees worldwide in the Group. For the financial year 2021, consolidated revenues of at least EUR 2.4 billion are already expected. Based on this, consolidated revenues are to be expanded to at least EUR 5 billion by 2023. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. At this level, the medium- to long-term target for dividend-relevant net income is 1.8% to 2.2% of consolidated revenues. 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 ticker 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 www.mutares.de Contact Press 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 Gaëtan Commault - gaetan.commault@clai2.com / +33 06 99 37 65 64 Dorian Masquelier - dorian.masquelier@clai2.com / +33 07 77 26 24 57
03.03.2022 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
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
The mobile operator has revealed crowd movement data from its network shows people are returning to the office in London, but only on certain days.
Vital statistics on power-generation firms suspected of having cashed in on high energy prices
Endoscope reprocessing is a multi-step process that involves effective cleaning, disinfection, and sterilization of endoscopy devices and their accessories. The high risk of infections associated with improper sterilization of endoscopes is majorly driving the demand for reprocessing equipment.New York, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Endoscope Reprocessing Market – Global Outlook & Forecast 2022-2027" - https://www.reportlinker.com/p063135
Irish house prices returned in June to levels not seen since the credit-fuelLed peak of 2007, after data on Friday showed further rapid rises that experts have this time attributed to a dearth of supply rather than an overabundance of credit. The central bank, which has since put in place some of the toughest curbs on mortgage lending in the euro zone, said in a Nov 2021 assessment that prices were around the level expected based on economic fundamentals such an income growth. House prices have risen sharply since then, growing 14.1% year-on-year in June, down from 14.4% in May and cooling slightly for the third successive month.
Plastic Decking Market Research Report by Resin Type (High-Density Polyethylene, Low-Density Polyethylene, and Other Resins in Plastic Decking Market), Composite Type, End User, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19New York, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Plastic Decking Market Research Report by Resin Type, Composite Type, End User, Region - Global Forec
Boris Johnson insisted that it would be for his successor to make 'significant fiscal decisions'.
Households with smart meters could find themselves moved onto prepayment plans without their consent if they refuse to pay their energy bills.
United Kingdom Non-Invasive Prenatal Testing Market United Kingdom Non-Invasive Prenatal Testing Market Dublin, Aug. 11, 2022 (GLOBE NEWSWIRE) -- The "United Kingdom Non-Invasive Prenatal Testing Market and Forecasts 2022 - 2028" report has been added to ResearchAndMarkets.com's offering. The United Kingdom Non-Invasive Prenatal Testing Market was valued at $187 Million in 2021 and is estimated to reach a value of $481 Million by 2028 at a growth rate of 14.4%. This new market report presents a
Young workers’ job prospects have been hit hardest by the pandemic and the legacy of Covid lockdowns, with dire consequences for the long-term future of the global economy, the International Labour Organisation has warned.
Andrew Bailey has warned Liz Truss not to challenge the Bank of England's rule making powers and change its mandate, as tensions between Threadneedle Street and ministers continue to escalate.
When we established our Wealth Preserver portfolio – which was before inflation took off – we said we would be less interested in trying to predict inflation’s course and more concerned with our efforts to forestall it. Nonetheless readers may be interested in our latest take on what the future holds – especially as the niceties of where inflation goes from here in different parts of the world have a direct effect on the portfolio’s fortunes.
Global Mineral Wool Market Global Mineral Wool Market Dublin, Aug. 12, 2022 (GLOBE NEWSWIRE) -- The "Mineral Wool Market, by Type, by Product Type, by End-User Industry - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering. Mineral wool is an excellent insulation material that's derived from iron ore slag, a waste product of the steel industry. In fact, some mineral wool products are made from over 90% recycled material. That me
An instant investment profit of close to 250pc sounds fantastical — impossible, even. But in the sleek world of luxury watches, those who manage to get their hands on brand new rare timepieces can sell them on for a fortune.
Global Molecular Diagnostics Market Global Molecular Diagnostics Market Dublin, Aug. 11, 2022 (GLOBE NEWSWIRE) -- The "Molecular Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis" report has been added to ResearchAndMarkets.com's offering. The molecular diagnostics market is projected to grow from US$ 16,258.97 million in 2021 to US$ 36,176.65 million by 2028; it is expected to grow at a CAGR of 12.1% during 2021-2028. The market growth is mainly attributed to an increase
The housebuilding giant has previously said constraints hitting the industry have slowed down building across the first half of the year.
Educational Robot Market Educational Robot Market Dublin, Aug. 11, 2022 (GLOBE NEWSWIRE) -- The "Educational Robot Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering. The global educational robot market reached a value of US$ 1.2 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 3.0 Billion by 2027, exhibiting a CAGR of 16.5% during 2021-2027. Keeping in mind the uncerta
Recruitment body reveals 1.85 million job vacancies across Britain
The airport saw 318% more people – a total of 6.3 million – pass through its terminals in July.
The housebuilding giant has previously said constraints hitting the industry have slowed down building across the first half of the year.
Plant Extracts Market Research Report by Type (Essential Oils & Natural Extracts, Flavors & Fragrances, and Phytochemicals), Sources, Application, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19New York, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Plant Extracts Market Research Report by Type, Sources, Application, Region - Global Forecast to 2027 - Cumulative Impact of COVID-1