The year-end spurt has begun: Mutares acquires the Italian business of Tekfor Group and grows annualized by a further EUR 120 million
- Profitable manufacturer of high-quality automotive components with sales of EUR 120 million
- Company strengthens Automotive & Mobility segment as platform
- Ninth transaction in 2019 and first transaction in December
Munich/Milan, December 19, 2019 – The investment company Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire the Italian business of the Tekfor Group, a well-known manufacturer of automotive components. The transaction is expected to be completed in the first quarter of 2020.
The agreement between the Tekfor Group and Mutares includes the complete takeover of the Italian subsidiary Tekfor S.p.A. including two production sites in the Turin area. The company will strengthen the Automotive & Mobility portfolio segment as a new platform investment and follows the industry focus and growth-oriented investment strategy of the Mutares Group.
Tekfor S.p.A. is an established Tier 1 and Tier 2 supplier for the automotive and truck industry as well as related industries. At two locations in Northern Italy, the company produces components for use in electric, hybrid and conventional powertrains. The company generated sales of around EUR 120 million in the 2018 financial year and employs around 670 people.
“With the acquisition of the Italian business of the Tekfor Group as a platform investment, we are further developing our Automotive & Mobility segment. Mutares has enormous expertise and a successful track record in the automotive sector, which we look forward to building on with this acquisition. Especially in the current market situation, after careful selection, there are attractive purchase opportunities for Mutares in this segment, where we can make the difference with our experience and our operational approach”, explains Robin Laik, CEO and biggest shareholder of Mutares.