Thirteenth acquisition in 2023: Mutares has signed an agreement to acquire PRINZ Kinematics GmbH from AL-KO

  • New add-on investment strengthening the KICO & ISH Group
  • Leading global automotive supplier of high-quality kinematic systems for OEMs
  • Revenues of approx. EUR 55 million in 2022

Munich, November 24, 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire PRINZ Kinematics GmbH (“PRINZ”) from AL-KO. As a new add-on investment, the company will join KICO & ISH Group, strengthening the groups position as system supplier of high-quality automotive technology. The closing of the transaction is expected in Q4 2023.

PRINZ is a leading global automotive supplier of kinematic systems specialized in the development and production of hinges, mainly used in vehicle doors, tailgates and engine hoods for premium OEM customers. Founded in 1985, the company is headquartered in Stromberg, Germany, and additionally operates two full-scale production sites in Bulgaria (Ruse) and China (Shenyang), which enable direct access to a strong customer base, including international premium OEMs such as Mercedes-Benz, Daimler Truck, BMW and Volvo. With around 300 employees, the company generated revenues of approx. EUR 55 million in 2022.

KICO & ISH Group is now a leading global supplier of hinge and locking systems. With the four companies KICO, ISH, High Precision Components and PRINZ, Mutares is planning total revenues of approx. EUR 350 million for the fiscal year 2024. Mutares now aims to leverage synergies between the four companies in China, Germany, Poland and Bulgaria.

Robin Laik, CEO and founder of Mutares, comments: “With the acquisition of PRINZ in Germany, we are further expanding our Automotive & Mobility segment. The company is very well established in the market and has the potential to further strengthen its competitive position due to its wide product portfolio and own R&D capacities. We look forward to working with the PRINZ team to expand the company’s product portfolio and further increase our market share in the hinge and locking systems group.”