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Mutares (FRA: MUX)

Last close As at 20/11/2024

EUR22.85

▲ 0.95 (4.34%)

Market capitalisation

EUR488m

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.

Latest Insights

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edison tv

Edison Growth Conference panel – 2024: The year of M&A?

Investment Companies | edison tv

Vantage: Turnaround titan – learning about Mutares’s success and ambitions with CEO Robin Laik

Investment Companies | edison tv

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

Investment Companies | edison tv

Mutares – executive interview
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Sector

Industrials

Equity Analyst

Milosz Papst

Milosz Papst

Head of Content, Investment Trusts

Key Management

  • Mark Friedrich

    CFO

  • Robin Laik

    CEO

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (8.0) (26.8) (24.7)
Relative (4.9) (29.3) (37.0)
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

edison tv

Industrials

Executive interview – Mutares at EKF 2019

Update

Industrials

Mutares — Seven months, seven acquisitions

Industrials

Update

Mutares — Opportunities in a distressed environment

Update

Industrials

Mutares — Focus on engineering & technology

edison tv

Industrials

Executive Interview – Mutares

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

thematic

Industrials

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A new paradigm for space

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Geopolitical conflict to drive renewables surge

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The emergence of mega-constellations

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Five things every investor should know about everyday decarbonisation and Itaconix

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BayWa – Focus on sustainability

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Have yourself a sustainable little Christmas

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COP26: What does it mean for business?

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Investment themes: IPO boom in London

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COP26: No matter the outcome, the private sector is the engine of change

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COP26: Time to realign your supply chain with net-zero goals?

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The circular economy

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EV outlook #1 – Growth, policy and net zero

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Battery charge: The rise of lithium-ion – options and implications

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Water – The real liquidity crisis

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Greece – Changing the narrative

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Illuminator: August Update

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Renewables rising – Sector primer

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Deutsche Börse Eigenkapitalforum 2014 Research Guide

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German Mittelstand Conference

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German industrials spotlight: Sand in the gears

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German industrials spotlight: Industrial machinery

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German industrials: Global ambitions

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DSEi: Feedback and thoughts