DGAP-News
mutares acquires the pipeline manufacturer BSL as an add-on for EUPEC
DGAP-News: mutares AG / Key word(s): Mergers & Acquisitions/Expansion
mutares acquires the pipeline manufacturer BSL as an add-on for EUPEC
31.08.2015 / 09:11
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mutares AG (ISIN: DE000A0SMSH2) has acquired the French pipeline
manufacturer BSL Pipes and Fittings SAS. After the successful development
of EUPEC, mutares strengthens its portfolio by investing in a second
company in the oil- and gas pipeline sector.
mutares has acquired BSL Pipes and Fittings SAS (BSL), a manufacturer of
welded stainless steel pipes with lengths of up to 12 meters. The
transaction is part of a corporate refocusing program initiated by the
French industrial group Génoyer SA, which is hereby concentrating on its
core business.
In 2014, BSL generated a turnover of EUR 21m, with a client portfolio
mainly comprised of companies from the oil and gas industry. At its
headquarters in Billy-sur-Aisne in Northern France, BSL employs
approximately 100 employees. The current project activities in the pipeline
sector provide a sound basis for future growth of the company.
BSL is a perfect add-on to EUPEC which was acquired by mutares in 2012 and
has developed in an outstanding way ever since. With an expected EBITDA of
EUR 10m in 2015, EUPEC is one of the most important and most profitable
growth drivers in the portfolio of mutares. Considering the complementary
customer portfolio in the on- and offshore sector, the potential of
vertical integration and operational improvements, the acquisition of BSL
is an optimal strategic add-on and an important milestone in the
development of EUPEC.
Furthermore, the recent decision of building the second Nord Stream
pipeline is the major chance for the European pipeline business. EUPEC was
the exclusive provider of pipeline coatings in the first Nord Stream
project and possesses the only suitable plant at the Baltic Sea. The
project volume of the first Nord Stream project amounted to more than EUR
700m.
Dr. Axel Geuer, CEO of mutares, emphasizes: "BSL is already the second
add-on acquisition this year which underlines the strategic development of
our portfolio. Moreover, we have already proven our active M&A approach by
two successful exits in 2015."
Due to the dynamic transaction activities in the current year, mutares
reached an annualized group turnover of more than EUR 850m. Hence, the
outlook towards group revenues of EUR 1.8bn by 2018 can be confirmed.
Company profile of mutares AG
mutares AG, Munich (www.mutares.de), acquires companies, that are being
sold in the course of a repositioning process at their owners and that show
a clear operational improvement potential. Getting engaged with its own
teams, mutares actively supports its portfolio companies to achieve a clear
value increase. The focus of the operational work is to ensure sustainable,
long-term growth. The shares of mutares AG are traded in the Open Market of
the Frankfurt Stock Exchange (Entry Standard) under the symbol MUX (ISIN:
DE000A0SMSH2).
For further information, please contact:
mutares AG
Christoph Himmel
Investor Relations & Corporate Communications
Tel. +49 89 9292776-0
Fax +49 89 9292776-22
ir@mutares.de
www.mutares.de
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31.08.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
390661 31.08.2015
mutares AG (ISIN: DE000A0SMSH2) has acquired the French pipeline
manufacturer BSL Pipes and Fittings SAS. After the successful development
of EUPEC, mutares strengthens its portfolio by investing in a second
company in the oil- and gas pipeline sector.
mutares has acquired BSL Pipes and Fittings SAS (BSL), a manufacturer of
welded stainless steel pipes with lengths of up to 12 meters. The
transaction is part of a corporate refocusing program initiated by the
French industrial group Génoyer SA, which is hereby concentrating on its
core business.
In 2014, BSL generated a turnover of EUR 21m, with a client portfolio
mainly comprised of companies from the oil and gas industry. At its
headquarters in Billy-sur-Aisne in Northern France, BSL employs
approximately 100 employees. The current project activities in the pipeline
sector provide a sound basis for future growth of the company.
BSL is a perfect add-on to EUPEC which was acquired by mutares in 2012 and
has developed in an outstanding way ever since. With an expected EBITDA of
EUR 10m in 2015, EUPEC is one of the most important and most profitable
growth drivers in the portfolio of mutares. Considering the complementary
customer portfolio in the on- and offshore sector, the potential of
vertical integration and operational improvements, the acquisition of BSL
is an optimal strategic add-on and an important milestone in the
development of EUPEC.
Furthermore, the recent decision of building the second Nord Stream
pipeline is the major chance for the European pipeline business. EUPEC was
the exclusive provider of pipeline coatings in the first Nord Stream
project and possesses the only suitable plant at the Baltic Sea. The
project volume of the first Nord Stream project amounted to more than EUR
700m.
Dr. Axel Geuer, CEO of mutares, emphasizes: "BSL is already the second
add-on acquisition this year which underlines the strategic development of
our portfolio. Moreover, we have already proven our active M&A approach by
two successful exits in 2015."
Due to the dynamic transaction activities in the current year, mutares
reached an annualized group turnover of more than EUR 850m. Hence, the
outlook towards group revenues of EUR 1.8bn by 2018 can be confirmed.
Company profile of mutares AG
mutares AG, Munich (www.mutares.de), acquires companies, that are being
sold in the course of a repositioning process at their owners and that show
a clear operational improvement potential. Getting engaged with its own
teams, mutares actively supports its portfolio companies to achieve a clear
value increase. The focus of the operational work is to ensure sustainable,
long-term growth. The shares of mutares AG are traded in the Open Market of
the Frankfurt Stock Exchange (Entry Standard) under the symbol MUX (ISIN:
DE000A0SMSH2).
For further information, please contact:
mutares AG
Christoph Himmel
Investor Relations & Corporate Communications
Tel. +49 89 9292776-0
Fax +49 89 9292776-22
ir@mutares.de
www.mutares.de
---------------------------------------------------------------------
31.08.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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390661 31.08.2015