EQS-News: Mutares SE & Co. KGaA
/ Key word(s): Offer/Agreement
Seventh acquisition in 2023: Mutares has sent an irrevocable offer to acquire SRT Group
Munich, September 18, 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has sent an irrevocable offer to acquire SRT Group (“Stuart”) from Geopost SA. The company will strengthen Mutares’ presence in the logistics and transport sector across Europe. The transaction is expected to close before the end of 2023. The project is still subject to consultation with the relevant work councils, and subject to authorization by the responsible control and governance bodies.
Stuart operates in more than 100 major European cities generating over EUR 400 million in revenues. The company is a European leader in urban on-demand delivery, especially in the food and groceries segments. Stuart builds upon an innovative business model that instantly meets the needs of different customer segments and thus balances supply and demand by delivering directly from shops or restaurants to the end customer’s home. Stuart's revenue growth, particularly in the food segment, underlines the agility of the company's teams.
Johannes Laumann, CIO of Mutares, comments: “With Stuart, we are adding a new, high-growth platform to the Mutares portfolio. The company not only strengthens our deep expertise in transportation and logistics, but also allows us to enter the growing segment of urban on-demand deliveries. Together with Stuart's management and partners, the Mutares operations teams will continue to grow the business with its strong focus on sustainable delivery solutions in metropolitan environments. This acquisition marks another important step to achieving our Mutares Group revenue targets for 2025.”
Company profile of Mutares SE & Co. KGaA
Mutares SE & Co. KGaA, Munich (www.mutares.com), as a listed private equity holding company with offices in Munich (HQ), Amsterdam, Frankfurt, Helsinki, London, Madrid, Milan, Paris, Shanghai, Stockholm, Vienna and Warsaw, acquires medium-sized companies in special situations, based in Europe, which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. For the fiscal year 2023, consolidated revenues of EUR 4.8 billion to EUR 5.4 billion are expected. Based on this, consolidated revenues are to be expanded to approx. EUR 7 billion by 2025. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. Accordingly, a net income in the holding company in the range of EUR 125 million to EUR 150 million is expected for the fiscal year 2025. The Management Board and Supervisory Board together hold more than one third of all Mutares shares with voting rights. The shares of Mutares SE & Co. KGaA are traded on the Regulated Market of the Frankfurt Stock Exchange under the symbol "MUX" (ISIN: DE000A2NB650).
For more information, please contact:
Contact Press France
18.09.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Company:||Mutares SE & Co. KGaA|
|Phone:||+49 (0)89-9292 776-0|
|Fax:||+49 (0)89-9292 776-22|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1727655|
|End of News||EQS News Service|
1727655 18.09.2023 CET/CEST