Mutares has successfully completed the acquisition of Toshiba Transmission & Distribution Europe S.p.A. from Toshiba Group

• Add-on acquisition to Balcke-Dürr Group
• Engineering-Procurement-Construction service provider for energy transmission and distribution
• Executed projects worth over EUR 350 million in the past years
• New Company Name: Balcke-Dürr Energy Solutions

Munich/Milan, 22 February 2022 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of Toshiba Transmission & Distribution Europe S.p.A. (the “Company”) from Toshiba Group as add-on for Balcke-Dürr Group. The Company and Toshiba Group will continue to work together as technological partners for the completion of existing projects and also for future business opportunities. From now on, the Company operates under the new name Balcke-Dürr Energy Solutions.

Headquartered in Genova, Italy, the Company is a renowned provider of full turnkey projects in the energy field, operating primarily in Europe and Mediterranean countries. It delivers full turnkey projects such as high voltage and medium voltage substations, battery storage systems, smart grids solutions and plants for renewable energies and executed projects worth over EUR 350 million in the past years. The add-on acquisition of the Company will enable Balcke-Dürr to enter the renewables business which is in line with Balcke-Dürr’s strategy to become a sustainable solution provider.