Mutares has signed an agreement to acquire FSL Ladenbau GmbH

Fifth acquisition in 2024: Mutares has signed an agreement to acquire FSL Ladenbau GmbH

• Add-on acquisition to strengthen the Ganter Group with synergies within the range of customers and supply chain
• Leading shopfitting provider with strong presence in Northern Germany
• Revenues of ca. EUR 15 million planned in 2024

Munich, May 14, 2024 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire FSL Ladenbau GmbH from shareholders Christian Füßer, Marion Füßer and Guido Krümpel. The transaction will strengthen the Ganter Group, a general contractor and expert in high-quality interior finishing, as a new add-on acquisition. The closing of the transaction is expected by the end of Q2 2024.

Founded in 1973 and based in Westerstede, Germany, FSL Ladenbau is a specialist in shopfitting services and plans to achieve ca. EUR 15 million in revenues in 2024. With its own production facility as well as a strong commercial network, the company has established itself as a leader in the industry and is renowned for its innovative design and manufacturing capabilities. Thanks to the focus on bespoke shopfitting solutions, FSL has built a strong reputation with a wide range of loyal customers.

As part of the Ganter Group, FSL Ladenbau is poised for significant growth in sales volumes and operational performance. With the support of Ganter's expertise in project management and controlling as well as resource management, FSL plans to execute a robust order book. The acquisition is expected to boost Ganter Group's revenues to approximately EUR 67 million in 2024.

Robin Laik, CEO and founder of Mutares, comments: "The acquisition of FSL Ladenbau, significantly strengthens the Ganter Group by bringing complementary customer portfolios and own production capabilities that enhance our competitive position in the market. We look forward to working with the FSL team to support their growth initiatives and achieve valuable synergies within the Ganter Group."

Company profile of Mutares SE & Co. KGaA

Mutares SE & Co. KGaA, Munich (www.mutares.com), a listed private equity holding company with offices in Munich (HQ), Amsterdam, Frankfurt, Helsinki, London, Madrid, Milan, Mumbai, Paris, Shanghai, Stockholm, Vienna and Warsaw, acquires companies in special situations which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. For the fiscal year 2024, consolidated revenues of EUR 5.7 billion to EUR 6.3 billion are expected. Based on this, consolidated revenues are to be expanded to approx. EUR 7 billion by 2025 and EUR 10 billion by 2028. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. On this basis, the Holding Company is expected to generate a net income of EUR 108 million to EUR 132 million for the fiscal year 2024, EUR 125 million to EUR 150 million for the fiscal year 2025 and EUR 200 million for the fiscal year 2028. 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) and have been part of the selection index SDAX since December 2023.

For more information, please contact:

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

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