Mutares subsidiary Donges Group continues growth and success path – acquisition of Ruukki Building Systems
- Donges Group acquires a subsidiary from SSAB pushing annualized Group revenues to more than EUR 400 million
- Target company with annual revenues of approx. EUR 130 million
- Add-on acquisition strengthens the market position of Donges Group in Northern Europe and opens up capacities in Eastern Europe
- Already seventh transaction for Mutares in 2019
Munich/Darmstadt, July 19, 2019 – Donges Group, a 100% owned portfolio company of the Munich-based investor Mutares (ISIN: DE000A2NB650), has signed an agreement to acquire the complete business operations of Ruukki Building Systems Oy, the Building Systems division of the Finnish Ruukki Construction, a subsidiary of SSAB Group. Closing of the transaction is subject to the approval of relevant competition authorities and expected by the end of 2019. Details about the terms of the transaction were not disclosed.
Ruukki Building Systems, headquartered in Helsinki, Finland, is one of the leading suppliers of building system solutions in Northern and Eastern Europe. The company is a project business specializing in the design, manufacture and installation of building frame, envelope and bridge structures out of steel. Ruukki Building Systems operates four production sites in Finland, Poland and Lithuania. The company offers heavy steel structures and bridges as well as other types of steel and concrete frame structures to its customers. For 2019, the business expects sales of around EUR 130 million with a significant profitability. It employs some 500 people.
Donges Group continues its path for growth and success
For Donges Group, the acquisition of Ruukki Building Systems allows to complement its existing setup by additional engineering and production know-how in Eastern Europe and to realize synergies within the Group. With this transaction and including the recent acquisition of Normek in February 2019, Donges sustainably strengthens its positioning in the attractive Nordic markets to develop into a European group specialized in engineered steel solutions and custom-made solutions for envelope systems. Following the completion of today’s acquisition, the Donges Group will have grown to more than EUR 400 million in annualized group sales, having worldwide more than 1,400 employees.
Robin Laik, CEO of Mutares: „This acquisition marks the seventh transaction and third add-on acquisition for Mutares in 2019. For Donges Group, this is the next milestone in positioning itself as the leading independent European construction supplier for building, bridge, and envelope solutions. We are proud to be able to acquire Ruukki Building Systems – an established player in the Northern and Eastern European markets that perfectly supports the ambitious growth and profitability strategy of our portfolio company Donges Group.“
Company profile of SSAB Group
SSAB is a Nordic and US-based steel company. SSAB offers value added products and services developed in close cooperation with its customers to create a stronger, lighter and more sustainable world. SSAB has employees in over 50 countries. SSAB has production facilities in Sweden, Finland and the US. SSAB is listed on Nasdaq Stockholm and has a secondary listing on Nasdaq Helsinki.
Company profile of Donges Group
The Donges Group has been part of the Mutares Group since November 2017 and represents a strategic platform investment in the Engineering & Technology portfolio segment. Donges is one of the leading European construction and engineering companies specializing in the design and manufacture of building structures including building envelope solutions based on steel, aluminum, polymer membranes and wood. Headquartered in Darmstadt, Germany, the group operates 13 production sites worldwide. Following the successful completion of the acquisition, the Donges Group expects total annual sales of more than EUR 400 million and employs around 1,400 people in 14 countries.