€165.5m market cap
€10.68 last close
Founded and listed in 2008, mutares AG acquires special situation companies that are under performing and can be turned around through financial and operational restructuring. It currently owns 13 companies across five focus industries.
Mutares (MUX) specialises in restructuring distressed companies and has been very active in M&A this year, with eight deals announced to date. It has concluded two platform investments in the automotive and mobility segment and acquired three goods and services platforms. This provides additional diversification following the stronger focus on expanding the engineering and technology business in FY18. That said, the latter remains MUX’s key value driver for now (64% of NAV at end-June 2019) and was further expanded by three add-on acquisitions to Donges Group completed so far in FY19.