Fourth acquisition in 2023: Mutares signed an agreement to acquire Recover Nordic Oy from Recover Group
- Further strengthening Mutares’ presence in Finland after recent successful acquisition of Palmia
- New platform investment for the Goods & Services segment
- Revenues of ca. EUR 40 million in 2022
- Provider of property remediation services
- Wide market coverage with 19 branches in Finland
Munich, 8 July 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire Recover Nordic Oy from Recover Group. Recover Nordic Oy will strengthen Mutares´ Goods & Services segment as a new platform investment in Finland. The transaction is expected to be closed in Q3 2023 and is subject to approval by the Finnish Competition and Consumer Authority.
Recover Nordic Oy is a leading provider of property remediation services related to, for example, water and fire damages, odour, disinfection, and moisture. The company covers the full value chain following property damages from first response and inspection to demolition, remediation and reconstruction. Headquartered in Vantaa, and operating through its 19 branches, Recover Nordic Oy is able to reach ca. 80% of the Finnish population within one hour. The company generated revenue of ca. EUR 40 million in 2022.
Johannes Laumann, CIO of Mutares, comments: „With this transaction, Mutares further builds on its successful presence in Finland, having recently acquired Palmia, where our turnaround program is already starting to show results. We are very happy to welcome Recover Nordic Oy to our portfolio and, as previously mentioned, remain committed to continuing the growth of our presence in Finland and the Nordic region.“