Mutares has successfully completed the acquisition of Eltel Networks Energetyka S.A. and Eltel Networks Engineering S.A. from Eltel AB

• Leading providers of electrical power engineering & construction services in Poland
• New platform investment to strengthen the Goods & Services segment
• Revenues of approx. EUR 36 million in 2023

Munich, June 7, 2024 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of Eltel Networks Energetyka S.A. and Eltel Networks Engineering S.A. from Eltel AB. As a new platform investment, the companies will strengthen the Goods & Services segment.

Eltel Networks Energetyka S.A. and Eltel Networks Engineering S.A. are among the leading providers of electrical power engineering services, including high voltage services with planning, construction, commissioning and maintenance services, in Poland. The companies are predominantly active in medium and large turn-key projects for transmissions and distribution networks for both overhead lines and power substations for customers that are prominent players within the energy sector. With around 410 employees and three main offices in Kraków, Rzeszów and Olsztyn, they are well positioned to address the growing Polish market, but also provide their experience in cross-border projects in the UK, Germany and the Nordics. In 2023, the companies generated revenues of approx. EUR 36 million.

Within the next months, the companies will continue their expansion efforts within Poland and neighbouring countries, in the high-voltage segment, capitalizing on enormous demand driven by energy transformation. This expansion strategy will leverage Mutares’ experience gained from the portfolio companies Conexus and Efacec, amongst others.