Mutares expects high transaction activity in the second quarter of 2026
- Three exits scheduled for signing and four exits expected to close
- Five closings on the buy side are planned, including Gas Solutions and SABIC’s ETP businesses
- Two additional acquisitions already signed
- Preparing additional exit processes in the Energy Infrastructure and Defense sectors
- Positive investor feedback on preliminary figures and further development
Munich, March 20, 2026 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) enters the second quarter of 2026 with strong momentum following a successful first quarter featuring three signed acquisitions and six signed exit transactions. The pipeline on both the exit and acquisition sides is at an advanced stage and will contribute significantly to revenue and earnings growth.
Mutares is significantly accelerating its exit activities in the second quarter and expects three signings and four closings. With the already signed sales of Conexus, Kalzip, inTime, and Relobus, the completion of key transactions is imminent. In parallel, further deals with significant value creation are being prepared in the Energy & Technology and Infrastructure & Defense segments. Interest in these two segments is particularly strong due to massive investments in energy infrastructure and significantly rising defense budgets. A shortage of targets with robust operational performance in this area has led to genuine competition for assets, enabling attractive exit valuations.
In parallel, five closings are pending on the buy side, including Wärtsilä’s Gas Solutions business unit, the flooring business of Hamberger Industriewerke, SABIC’s Engineering Thermoplastics (ETP) business in the Americas and Europe, as well as two transactions that have already been signed but are still subject to regulatory approval.
The first three transactions alone represent annualized revenues of approximately EUR 2.5 billion. Mutares sees outstanding value creation potential, particularly in SABIC’s ETP business, given annual revenues of around EUR 2.0 billion, equity of just under EUR 2.0 billion, historically achieved operating results of more than EUR 500 million, and a strong industrial footprint in the US.
The outlined activities will not only strengthen the operational foundation but will also significantly increase the Group’s revenues, international reach, and the depth of the portfolio across segments.
Johannes Laumann, CIO of Mutares, comments: “The second quarter will be characterized by very high transaction momentum – on both the acquisition and exit sides. Our pipeline is more advanced than it has been in a long time and lays the foundation for a significant acceleration of our growth trajectory. Accordingly, we expect a very strong phase of value realization and portfolio expansion across all segments in the second half of the year.”
In addition, the recent participation in the Nordic Bond Conference led to a positive exchange with key bond investors, who welcomed the company’s initiative to address the anticipated breach of a bond covenant (ratio of consolidated net debt to consolidated equity) based on the preliminary figures for 2025. The strategy for the rest of the year, which involves reducing the 2023/2027 bond through a buyback, was particularly well received. Mutares is therefore confident that the bondholders will agree to accept a temporary waiver of compliance with the financial covenants.