Ninth expected buy-side acquisition in 2020: Mutares makes an offer to acquire Primetals Technologies France S.A.S. from Primetals Technologies Ltd.
- Ninth expected acquisition for Mutares in 2020
- Target company offering high-tech solutions for the global metals industry generates total revenues of approximately EUR 55 million
- New platform investment strengthening the Engineering & Technology segment
- Closing of transaction expected in Q1 2021
Munich/Paris, 15 December 2020 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) and Primetals Technologies Ltd. have entered into exclusive discussions for the acquisition of Primetals Technologies France, which has its production site in Savigneux, France, employing around 300 employees. The goal is to complete the transaction (closing) by the end of February 2021, once all necessary consents are obtained and consultations completed, in particular the information and consultation process with the staff representatives of Primetals Technologies France.
Primetals Technologies France is a leading global supplier of high-end steel processing line solutions based in Savigneux, France. It provides specialized engineering and plant construction services for a global customer base and is well known for its market-leading technology and manufacturing capabilities. In 2019 the company generated revenues of approximately EUR 55 million and employed some 300 staff.
The acquisition of Primetals Technologies France would strengthen Mutares’ Engineering & Technology segment as a new platform investment, providing services and solutions for steelmaking and metals producers, which are the key suppliers of the automotive, construction, and energy sectors.