Mutares signed an agreement to acquire the forging business in Germany of CIE Automotive

Sixth acquisition in 2023: Mutares signed an agreement to acquire the forging business in Germany of CIE Automotive

• Add-on acquisition for FerrAl United Group to strengthen the Automotive & Mobility segment
• Revenues of ca. EUR 220 million
• Manufacturer of forged and machined components for the European truck market

Munich, August 10, 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire three forging businesses, namely Gesenkschmiede Schneider, Schöneweiss & Co. and Falkenroth Umformtechnik, from CIE Forgings Germany, ultimately owned by CIE Automotive S.A. The transaction will further strengthen the FerrAl United Group, a supplier of multi-material machined solutions and systems, combining the Mutares portfolio companies PrimoTECS Group (including Rasche Umformtechnik and BEW Umformtechnik), Cimos, and MMT-B (Manufacturing Mobility of Tomorrow – Bordeaux), and most recently the acquisition of SELZER Group signed in July 2023. The enterprise value of the transaction amounts to EUR 55.5 million minus debt. The closing of the transaction is expected in the third quarter of 2023.

The three businesses are located in Germany and together employ around 600 people. The businesses are specialized in forging and machining with a focus on customers in the truck market, and thus perfectly complement the FerrAl United Group. Synergies are expected within the range of customers and production machinery for forging and friction welding capabilities as well as regarding operational improvement within procurement and cross-selling. Furthermore, the combination of all three businesses with the FerrAl United Group will help to leverage operational work, increase competitiveness and supported by the Mutares team bring access to new technologies and expertise, amongst others.

Johannes Laumann, CIO of Mutares, comments: “With this second acquisition for our newly formed global Tier-1 automotive supplier FerrAl United Group, we are strengthening our presence in the forging business with focus on the stable trucks segment and thus will further diversify our product offering. I am confident that the acquisition from CIE will bring significant benefits and improve synergies."

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, Helsinki, London, Madrid, Milan, Paris, Stockholm, Vienna and Warsaw, 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 fiscal year 2023, consolidated revenues of EUR 4.8 billion to EUR 5.4 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 income in the holding company in the range of EUR 125 million to EUR 150 million is expected for the fiscal 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
www.mutares.de

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