DGAP-News Mutares SE & Co. KGaA: Balcke-Dürr Group sells Balcke-Dürr Rothemühle to Howden after a successful turnaround

Nachrichtenquelle: EQS Group AG
04.12.2020, 09:00  |  132   |   |   

DGAP-News: Mutares SE & Co. KGaA / Key word(s): Disposal/Investment
Mutares SE & Co. KGaA: Balcke-Dürr Group sells Balcke-Dürr Rothemühle to Howden after a successful turnaround

04.12.2020 / 09:00
The issuer is solely responsible for the content of this announcement.


Mutares SE & Co. KGaA: Balcke-Dürr Group sells Balcke-Dürr Rothemühle to Howden after a successful turnaround

- Final divestment of Rothemühle business following the sale of activities in Poland in spring 2020

- Double-digit Return on invested Capital for Balcke-Dürr Group

- Successfully aligned work with Management on the entire exit process

 

Munich, 04 December 2020 - Balcke-Dürr, a holding of Mutares SE & Co. KGaA (ISIN: DE000A2NB650), has sold Balcke-Dürr Rothemühle to Howden Group after a successful reorganization and carve out. Balcke-Dürr Rothemühle is an integrated service, engineering and original equipment provider to the flue gas path segment of power and process plants. The company was established in 1936 and is a leading global provider of Air Preheaters, Gas-Gas Heaters and related heat recovery equipment. The transaction is expected to close in Q1 2021 and is subject to regulatory approval.

Mutares acquired the business as part of the acquisition of Balcke-Dürr Group in November 2016 from SPX Corporation based in Charlotte, USA. Focal points of the restructuring process have been footprint adjustments, capacity optimization as well as a focus on service-related business. The unit was carved out in 2019 with the aim of being sold as an independent entity. In 2019 the company generated a turnover of EUR 23.0 million with a team of 55 employees. The entire management team will remain on board.

Johannes Laumann, CIO of Mutares, comments: "This sale highlights our core competence of refocusing businesses to their fundamental expertise, in this case the profitable service business. Due to management empowerment and successful repositioning as an independent entity we have revitalized the Rothemühle brand and established it in the market. We believe Howden is the ideal new owner to lead the company into the next phase of internationalization, both in terms of products and technology."

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DGAP-News Mutares SE & Co. KGaA: Balcke-Dürr Group sells Balcke-Dürr Rothemühle to Howden after a successful turnaround DGAP-News: Mutares SE & Co. KGaA / Key word(s): Disposal/Investment Mutares SE & Co. KGaA: Balcke-Dürr Group sells Balcke-Dürr Rothemühle to Howden after a successful turnaround 04.12.2020 / 09:00 The issuer is solely responsible for the …

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