Seventh buy-side transaction in 2021: Mutares acquires Rasche Umformtechnik GmbH & Co. KG as add-on investment for PrimoTECS

• Provider of forged steel parts
• Add-on investment for PrimoTECS
• Target company with revenues of approx. EUR 30 million

Munich, 5 July 2021 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire, subject to certain approvals, Rasche Umformtechnik GmbH & Co. KG from the private owners. The acquisition of Rasche is an add-on investment for PrimoTECS and extends the presence of the company in Germany while paving the way for expanding its products into other industries. The closing of the transaction is still subject to certain approvals and is expected in Q3 2021.

The company is headquartered in Plettenberg, Germany, and is a leading manufacturer of forged parts by hot forming. Rasche generates revenues of approx. EUR 30 million and employs around 180 people. Automotive, fittings, aviation, forklift, agriculture and mechanical engineering belong to the key industries and main sources of revenue and growth.

Rasche will allow PrimoTECS, which was acquired in February 2020 from Tekfor Group, to access new customers and customer segments as well as to expand its product portfolio into smaller series sizes with manual forging presses. The acquisition underlines the growth strategy and vision to become the first in mind forging and machining partner in this industry. With the add-on investment, the Group will grow to consolidated revenues of approx. EUR 150 million.

Johannes Laumann, CIO of Mutares comments: "We are happy to add Rasche to our portfolio and welcome its employees to PrimoTECS. We are confident that the numerous synergies and high-quality products will bring the companies to a global player that is a first in mind steel forged parts provider."

Company profile Mutares SE & Co. KGaA

Mutares SE & Co. KGaA, Munich (www.mutares.com), as a listed private equity holding company with offices in Munich (HQ), Frankfurt, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires medium-sized companies and parts of larger groups with headquarters in Europe that show a clear potential for operational improvement and are sold again after undergoing a repositioning and stabilization process. Mutares actively supports and develops its portfolio companies with its own investment and consulting teams as well as through acquisitions of strategic add-ons. With for aim a ROIC (Return on Invested Capital) of 7 to 10 times on the total investment with a focus on sustainable growth of the portfolio companies. In 2020, Mutares SE & Co. KGaA generated consolidated revenues of approx. EUR 1.6 billion employing more than 12,000 people worldwide. Based on this, consolidated revenues are expected to increase to approximately EUR 3.0 billion by 2023. Mutares is strongly committed to a sustainable dividend policy consisting of a base dividend and a performance dividend. The shares of Mutares SE & Co. KGaA are listed on the Frankfurt Stock Exchange under the ticker symbol "MUX" (ISIN: DE000A2NB650).

For more information, please contact:

Mutares SE & Co. KGaA
Investor Relations
Phone +49 89 9292 7760
E-mail: [email protected]
www.mutares.de

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