{"id":24886,"date":"2018-01-31T14:00:23","date_gmt":"2018-01-31T13:00:23","guid":{"rendered":"https:\/\/mux.muppet-lab.dev\/mutares-italy-signs-first-transaction-with-add-on-acquisition-for-balcke-durr-group\/"},"modified":"2018-01-31T14:00:23","modified_gmt":"2018-01-31T13:00:23","slug":"mutares-italy-signs-first-transaction-with-add-on-acquisition-for-balcke-durr-group","status":"publish","type":"post","link":"https:\/\/mutares.com\/en\/mutares-italy-signs-first-transaction-with-add-on-acquisition-for-balcke-durr-group\/","title":{"rendered":"Mutares Italy signs first transaction with add-on acquisition for Balcke-D\u00fcrr Group"},"content":{"rendered":"<p class=\"intro\">Mutares (ISIN: DE000A0SMSH2) subsidiary Balcke-D\u00fcrr Group signs an agreement to purchase Heat Transfer Product (HTP) Division of STF (\u201cSTF\u201d)<\/p>\n<ul>\n<li>The strategic add-on acquisition broadens the product range and enhances the engineering know-how<\/li>\n<li>It will lead to an increased market share in the conventional and nuclear power sector<\/li>\n<li>The transaction is subject to approval of the Restructuring Agreement by the Court of Milan in line with article 182-bis of the Insolvency Act. Closing is expected by June 2018<\/li>\n<\/ul>\n<p>Balcke-D\u00fcrr Group, which produces and services components to increase energy efficiency and reduce emissions for the energy sector and chemical industry, signs an agreement to acquire the HTP division of STF from the Trifone family. The unit is one of Italy\u2019s leading suppliers of engineered solutions to the conventional and nuclear power industry. The company is headquartered in Magenta near Milano and is one of the most reputable names in the industry with first class clients worldwide.<\/p>\n<p>This add-on acquisition will provide valuable synergy effects in engineering, construction and marketing. The broader product portfolio and improved market access for both companies generates higher potential growth rates in revenue. The carved out division of STF will consist of an engineering and manufacturing hub in Italy as well as a sales and service location in France.<\/p>\n<p>Balcke-D\u00fcrr Group has been part of Mutares since December 2016. After a successfully implemented turnaround plan in 2017, the company is now focused on its growth strategy. After the acquisition of Donges SteelTec, this agreement to take over STF represents the second add-on acquisition in the past three months. It is also Mutares first transaction in Italy since the Company has launched its office in Milano in June of 2017.<\/p>\n<p>Wolf Cornelius, Managing Director of Balcke-D\u00fcrr Group: \u201cWe are very pleased with the acquisition of STF. The deal provides Balcke-D\u00fcrr Group with additional product and market expertise and will strengthen our position in the industry. Furthermore, we are confident that STF will also benefit from the considerable synergy effects of this add-on acquisition and will thus be able to leverage the larger geographic footprint for selling its high-quality components.\u201c<\/p>\n<p>Roberto Trifone, CEO of STF: \u201eBalcke-D\u00fcrrs\u2019 acquisition of STF is, of course, a turning point. It marks the end of 81 years of successful family business. Likewise, we are confident that we have found the perfect owner for the business in Balcke-D\u00fcrr Group. The combined business will be able to service more of the market in a most efficient way.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mutares (ISIN: DE000A0SMSH2) subsidiary Balcke-D\u00fcrr Group signs an agreement to purchase Heat Transfer Product (HTP) Division of STF (\u201cSTF\u201d) The strategic add-on acquisition broadens the product range and enhances the engineering know-how It will lead to an increased market share in the conventional and nuclear power sector The transaction is subject to approval of the [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[347],"tags":[],"class_list":["post-24886","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mutares Italy signs first transaction with add-on acquisition for Balcke-D\u00fcrr Group - Mutares SE &amp; Co. KGaA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mutares.com\/en\/mutares-italy-signs-first-transaction-with-add-on-acquisition-for-balcke-durr-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mutares Italy signs first transaction with add-on acquisition for Balcke-D\u00fcrr Group\" \/>\n<meta property=\"og:description\" content=\"Mutares (ISIN: DE000A0SMSH2) subsidiary Balcke-D\u00fcrr Group signs an agreement to purchase Heat Transfer Product (HTP) Division of STF (\u201cSTF\u201d) The strategic add-on acquisition broadens the product range and enhances the engineering know-how It will lead to an increased market share in the conventional and nuclear power sector The transaction is subject to approval of the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mutares.com\/en\/mutares-italy-signs-first-transaction-with-add-on-acquisition-for-balcke-durr-group\/\" \/>\n<meta property=\"og:site_name\" content=\"Mutares SE &amp; Co. 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