Mutares has entered into exclusive negotiations to acquire 80% equity of the TeamTex group from Nania Developpement and Credit Mutuel Equity
- Manufacturer of child restraint systems, specialized in plastic injection moulding and blow moulding
- Revenues of approx. EUR 80 million in 2022
Munich, October 30, 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has entered into exclusive negotiations with Nania Developpement to acquire 80% of the TeamTex Management and its subsidiaries (“TeamTex”) from Nania Developpement and Credit Mutuel Equity. TeamTex manufactures child restraint systems (car seats and accessories) thanks to its plastic injection moulding and blow moulding capabilities. In case of a successful acquisition, the company will strengthen the Retail & Food segment. The realization of the considered transaction is still dependent on final agreements with the company’s sellers and stakeholders and is expected in Q4 2023.
Headquartered in Charvieu-Chavagneux, France, the company employs close to 250 employees, with manufacturing capacity of over 17,000 units per day. With sales points in over 56 countries, either directly or through local distributors, TeamTex is a leader in its industry generating revenues of approx. EUR 80 million in FY22. The company sells child restraint systems under its own brand NANIA, but also under private labels for some of its retail customers and importers or under licensing brands, such as Disney. In doing so, TeamTex developed towards international markets with the establishment of subsidiaries in the UK and Brazil.
Johannes Laumann, CIO of Mutares, comments: “With this first step towards a potential acquisition of TeamTex, we are once again showing our ongoing commitment to further strengthening our Retail & Food segment while bringing synergies with our portfolio. I am convinced that the company has a strong potential for further growth thanks to its strong position on the French market and the development of new products compliant to the new standards and safety guidelines.”