Mutares AG (MUX); announces third add-on acquisition to its platform investment Donges Group

Published on 07-03-2019 11:04:00
Author Milosz Papst

Today Mutares announced that it has signed a purchase agreement for the acquisition of FDT as its third add-on investment to Donges Group. FDT currently employs c. 200 full-time equivalents and its budgeted revenues for 2019 stand at €55m.

The acquisition of FDT further broadens the product offering of Donges Group to include plastic flat roof systems and the complementary offering of light systems.

Both Donges and its acquisition Normek are specialists in steel bridges and constructions, with the latter being also a provider of glass facades solutions. Mutares’ first add-on investment to Donges acquired in 2018 was Kalzip, which is a supplier of metal (aluminium) roof systems.

The acquisition is important given that Donges SteelTec had an exclusive focus on Germany and Austria before its acquisitions, while Normek has a much stronger presence in the Nordics rather than continental Europe.

FDT also further improves Donges’ geographical footprint, with the latter gaining access to FDT’s European sales network with particularly strong presence in France and Belgium.

Kalzip is based in Germany and maintains a global sales network with major entities in the UK, Dubai and India. Following FDT’s acquisition, Donges Group’s European operations now cover 7 plants and 16 sales offices.

The focus of the Donges Group in 2019 will be on realizing synergies between Donges SteelTec and the three add-on acquisitions and enhancing its profitability.

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