Fourth exit in 2022: Mutares signed an agreement to sell its portfolio company Royal de Boer to Turntide Technologies

Munich, 8 November 2022 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to sell its portfolio company Royal de Boer to  Turntide Technologies. The closing of the transaction is expected in the fourth quarter of 2022 and is subject to the fulfilment of information and consultation rights of the relevant works council.

Royal de Boer is a manufacturer of barn equipment such as feed fences, cubicles, ventilation and manure systems, operating one production plant in Leeuwarden, the Netherlands. The company was acquired in 2020 from GEA Farm Technologies and has since then optimized its product mix and increased its overall efficiency while reducing costs.

For Royal de Boer the sale to Turntide Technologies, a global technology solutions provider for amongst others environmental systems in agricultural facilities, is the best next step to further drive the company’s ambitions.

Johannes Laumann, CIO of Mutares, comments: “I am happy to announce our fourth exit this year where we have again exceeded our target of a 7-10x ROIC. The exit strategy for Royal de Boer follows the best owner principle, and we are very happy to place Royal de Boer in an environment where the company can further grow.”