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Mutares (MUX)

Currency in

Last close As at 30/11/2023

22.45

▲ −0.75 (−3.23%)

Market capitalisation

464m

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.

Latest Insights

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Investment Companies | edison tv

Vantage: Mastering turnarounds, a conversation with Johannes Laumann from Mutares

Investment Companies | edison tv

Mutares – executive interview

Industrials | Update

Mutares — Thinking bigger

Industrials | Update

Mutares — Capturing the opportunities
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Share Price Performance

Overview

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

Update

Industrials

Mutares — Focus on engineering & technology

edison tv

Industrials

Executive Interview – Mutares

Industrials

Update

Mutares — Seven months, seven acquisitions

Update

Industrials

Mutares — New platform investments on board

Update

Industrials

Mutares — Buy-and-build strategy fuels expansion

Update

Industrials

Mutares — High transaction activity adds momentum

Initiation

Industrials

mutares AG — European restructuring expertise

Further insights

insight

Investment Companies

Mutares: EKF 2023 QuickView

Analyst of the week

Melanie Jenner

Mel Jenner

Director, Investment Trusts

mjenner@edisongroup.com
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