Mutares has successfully sold its portfolio company Lacroix + Kress GmbH to Superior Essex

Munich, 7 March 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully sold its portfolio company Lacroix + Kress GmbH to Superior Essex Global LLC.

The company is the leading oxygen-free copper drawing manufacturer in Europe and employs around 250 people at its two production sites in Bramsche and Neunburg vorm Wald, Germany. Lacroix + Kress stands out in the market for the high quality of oxygen-free copper and its unique manufacturing capabilities, supplying customers in various industries such as the automotive industry and general industrial applications.

The sale of Lacroix + Kress to Superior Essex follows Mutares’ ‘best new owner’ approach and enables a vertical integration of the two businesses. Superior Essex, a subsidiary of the South Korean LS Group and operating in Germany under the company Essex Furukawa Magnet Wire, is very well positioned in the market and one of the leading global manufacturers of magnet wire.