New platform Gemini Rail Group launches performance program
- Knorr-Bremse RailServices UK and Kiepe Electric UK rebranded as Gemini Rail Group
- Gemini Rail Group starts off with already established position in the UK and Ireland
- Mutares’ operational experts and local management started to develop comprehensive performance improvement program
Munich, November 14, 2018 – Following the successful completion of the acquisition of Knorr-Bremse RailServices UK (KBRS) and Kiepe Electric UK (Kiepe) by German investment group Mutares AG (ISIN: DE000A2NB650) at the beginning of November, both companies have now been rebranded. KBRS will now approach its markets as Gemini Rail Services UK and Kiepe as Gemini Rail Technology UK. Both companies form the newly established “Gemini Rail Group”, which represents a new platform in the Engineering & Technology segment of the portfolio of Mutares.
The rebranding of the companies is a vital part of the carve-out from their previous owner that has started beginning of November. In parallel, joint working groups of the Mutares consulting team and local management have identified four fields of action:
1. Definition of a new market strategy: adaptation of the product portfolio and identification of potential add-ons, development of a new corporate identity
2. Streamlining of processes: Optimization of processes along the entire value chain and realization of synergies
3. Optimization of liquidity and costs: Improvement of cash and working capital management, optimization of purchasing, operating costs and overhead
4. Completion of the carve-out: establishment of an independent IT infrastructure and integration of support functions
Based on these focus areas, the operational consultants at Mutares have started to partner with the local teams to develop a comprehensive performance improvement program and to implement first measures.
“The already strong market position of Gemini Rail Group in the UK and Ireland represents an ideal starting point for the excellent work of our operational experts. Together with local management and operational teams we have now started to adapt and implement our established Mutares performance improvement program. I am convinced that together, teams of Gemini Rail Group and Mutares will realize the optimal value potential of our new platform”, says Robin Laik, CEO of Mutares AG.