Mutares strengthens its engineering & technology segment

Mutares AG (ISIN: DE000A0SMSH2) acquires the international equipment manufacturer Balcke-Dürr from SPX Corporation. In 2015, the company generated revenues of EUR 142m with 650 employees. Mutares intends to further invest in its engineering & technology segment.

Mutares entered into an agreement to acquire the international equipment manufacturer Balcke-Dürr from SPX Corporation. In 2015, the company generated revenues of EUR 142m with 650 employees. Headquartered in Germany, the company has engineering and production sites in Germany, Italy, Poland, Hungary, China, and India.

Balcke-Dürr manufactures components for energy efficiency and the reduction of emissions in the chemical and power generating industry. With its experience of more than 130 years, the company offers groundbreaking solutions, ranging from standard modules to complete thermal systems. The company’s experienced engineers are specialized in providing advanced solutions fulfilling the highest requirements for safety and sustainability.

Balcke-Dürr will be part of Mutares’ engineering & technology segment in which Mutares experiences attractive market dynamics. Hence, Mutares will further invest in this segment and is convinced that Balcke-Dürr will be an ideal platform investment being a renowned brand in the industry. The acquisition is conditioned upon satisfaction of German competition filing requirements. The closing of the transaction is expected to take place before the end of the year.

Company profile of SPX

Based in Charlotte, North Carolina, SPX Corporation is a leading supplier of advanced HVAC products, detection and measurement technologies, and power equipment. With operations in about 20 countries, SPX Corporation generated approx. USD 1.7bn in annual revenue in 2015 with approx. 6,000 employees worldwide. SPX Corporation is listed on the New York Stock Exchange under the ticker symbol “SPXC”. For more information, please visit www.spx.com.