Thirteenth acquisition in 2024: Mutares has signed an agreement to acquire the business of Buderus Edelstahl GmbH from the voestalpine AG
- New platform investment to strengthen the Engineering & Technology segment
- Renowned German manufacturer of high-quality special steels
- EUR 360 million in revenues generated in the fiscal year 2023/2024
- Total assets of approx. EUR 200 million transferred
Munich, October 23, 2024 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire the business of Buderus Edelstahl GmbH from the voestalpine AG. The company will strengthen the Engineering & Technology Segment of Mutares as a new platform investment. The transaction is expected to close by the end of the fourth calendar quarter of 2024.
Established in 1731, Buderus Edelstahl GmbH (“Buderus”) is a producer of high-quality special steels with a focus on tool steel, engineering steel, open-die forgings, closed-die forgings, hot-rolled strip, cold-rolled strip and rolled semi-finished products, which it supplies to a wide range of customers worldwide. In the segments tool steel and engineering steel, Buderus inherits a market-leading position and is known for premium high-quality products. The company’s well-diversified customer portfolio with around 350 active customers is spread through various industries and end markets, such as light vehicles, mechanical engineering, truck industry and wind power. With around 1,100 employees, the company generated revenues of approx. EUR 360 million in the fiscal year 2023/2024. Buderus operates in Wetzlar, Germany, in a highly industrialized production site with a maximum annual finishing capacity of ca. 360 kilotons.
Johannes Laumann, CIO of Mutares, comments: “With the acquisition of Buderus Edelstahl, we are further strengthening our Engineering & Technology segment in the area of steel components and securing our own steel base. Buderus Edelstahl will also benefit from our existing product range and broad customer structure in the future, reducing its dependence on individual market risks and positioning itself more broadly for future growth within the Mutares Group. In line with the current situation at Buderus Edelstahl, we will negotiate a social plan with the employee representatives for the affected employees if it becomes necessary to reduce the workforce. Due to the company’s broad range of products, Buderus is effectively reducing its exposure to single market risks and sets itself for future growth. To optimize the manufacturing processes and further streamline the cost structure, we look forward to leveraging our in-house consultants’ expertise in optimizing manufacturing processes implementing best practices from our portfolio companies.”