Ninth acquisition in 2022: Mutares has signed an agreement to acquire Steyr Motors Betriebs GmbH and Steyr Motors Immo GmbH
- Second Platform acquisition of the Vienna Office
- Strengthening the Engineering & Technology segment
- Active in the area of development and production of engines for special purpose applications
Munich, 8 September 2022 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire Steyr Motors Betriebs GmbH and Steyr Motors Immo GmbH from Thales Austria GmbH, with a production site in Austria and a total of around 130 employees. The closing of the transaction is subject to regulatory approvals and is expected before the end of the year.
Steyr Motors is headquartered in Steyr, Austria, and is a well-known specialist in the development and production of high-performance engines and auxiliary electric power units for special purpose applications in vehicles and boats. The extremely robust, field-proven high-performance engines are based on a state-of-the-art technology and have a strong innovation pipeline ahead. The company aims for sustainable growth by continuous product evolution and expansion of its service offerings.
Johannes Laumann, CIO of Mutares, comments: “With this contemplated acquisition, which is the second buy-side deal of our newly opened office in Vienna, we aim to strengthen our footprint in Austria and our Engineering & Technology segment. Especially under current challenging market conditions, this segment shows a very resilient performance which would now be extended by this contemplated acquisition with a well-established player in this attractive niche market of engines for special heavy-duty applications.”