Mutares (FRA: MUX)

Last close As at 09/10/2024

EUR24.60

−0.25 (−1.01%)

Market capitalisation

EUR526m

Founded in 2008, Mutares acquires companies in special situations that are underperforming and can be turned around through financial and operational restructuring. It currently owns multiple companies across four segments (goods and services, retail and food, automotive and mobility, engineering and technology). Mutares was admitted to the small-cap index (SDAX) of Deutsche Börse in December 2023.

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Mutares – executive interview

Sector

Industrials

Equity Analyst

Milosz Papst

Milosz Papst

Director, Financials

Key Management

  • Mark Friedrich

    CFO

  • Robin Laik

    CEO

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (14.0) (27.0) (6.8)
Relative (17.4) (29.3) (25.6)
52 week high/low €43.5/€21.1

Financials

Mutares (MUX) predominantly invests in corporate carve-outs (80%+ of all deals) where it seeks to drive an operational turnaround, and often also executes a ‘buy-and-build’ strategy. MUX looks for companies with an annual turnover of €100–750m, with its ‘sweet spot’ in the range of €200–300m generated across multiple production sites. Its focus is on four major sectors: automotive & mobility (which is early-cycle), engineering and technology (project-driven, late-cycle), goods and services (considered non-cyclical) and retail and food (cyclical). MUX’s portfolio as at October 2023 consisted of 29 companies (including signed transactions) across Europe with more than 27,000 employees worldwide and annualised revenues of more than c €6bn.

Research

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Investment Companies

Mutares – executive interview

Update

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Mutares — Thinking bigger

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Mutares — Capturing the opportunities

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Industrials

Mutares – executive interview

Update

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Mutares — Rapidly expanding portfolio

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Mutares — Opportunities in a distressed environment

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Industrials

Executive interview – Mutares at EKF 2019

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Mutares — Seven months, seven acquisitions

Further insights

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Mutares: EKF 2023 QuickView

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