Founded and listed in 2008, Mutares acquires special situation companies that are underperforming and can be turned around through financial and operational restructuring. It owns multiple companies across three focus industries.
Mutares (MUX) closed seven acquisitions in H121 and another five were closed or announced after the reporting date. Management highlights that in the current uncertain environment, there are plenty of opportunities for turnaround investors and it reviews a high number of potential investments simultaneously. MUX also closed two larger deals that required it to provide capital to underlying companies – it secured funding for Lapeyre (€20m) and Light Mobility Solutions (€15m). Management expects more deals, that would call for additional funding. MUX is exploring its options, which could include share issues. In H121 MUX also closed three exits, which were all executed at or above its target ROIC range of 7–10x.