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EQS-News: Mutares SE & Co. KGaA / Key word(s): Investment/Takeover
Ninth acquisition in 2024: Mutares has completed the acquisition of Hirschvogel Incorporated from Hirschvogel Holding
GmbH
2024-07-08 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
Ninth acquisition in 2024: Mutares has completed the acquisition of Hirschvogel Incorporated from Hirschvogel Holding
GmbH
. First deal in USA right after the office opening in Chicago supporting Mutares' growth targets and
highlighting the strategic importance of the expansion into the US
. Add-on investment to strengthen the FerrAl United Group
. Specialist in the forging and machining of steel parts for OEMs and Tier-1 suppliers
Munich, July 8, 2024 - Walor International S.A.S., part of the FerrAl United Group and ultimately controlled by Mutares
SE & Co. KGaA (ISIN: DE000A2NB650), has completed the acquisition of Hirschvogel Incorporated from Hirschvogel Holding
GmbH. The company will join the FerrAl United Group as a new add-on investment, strengthening the group's presence in
the US market as a global partner for iron and aluminum-based castings and forgings and their machining and the
Automotive & Mobility segment of Mutares. Hirschvogel Incorporated will be renamed Walor North America Inc. further to
the acquisition.
Based in Columbus, Ohio, USA, the company is a specialist in the forging and machining of steel components with core
capabilities in warm forging, cold forging machining and heat treatment. Its broad product range includes pinions,
transmission shafts, rotor shafts, yokes and joints, which the company supplies to a wide range of OEMs and Tier-1
suppliers such as Ford, Metallus and Dana. With around 320 employees, the company generated revenues of approx. EUR 100
million in 2023 with significant growth potential.
The new acquisition is intended to further expand the FerrAl United Group's forging and machining footprint in the USA
and realize cross-selling and production synergies within the Group. FerrAl United Group is a globally active
automotive supplier of castings and forgings based in Frankfurt/Main, Germany, with more than 30 sites worldwide.
Johannes Laumann, CIO of Mutares, comments: "I am very pleased to announce our first deal in the USA right after our
office opening in Chicago, in line with our internationalization strategy. With Hirschvogel Inc. joining the FerrAl
United Group, I am highly confident, that we can further expand the company's market position and realize synergies
within all companies in the FerrAl United Group. This achievement marks a significant milestone for us in this enormous
growth market. We are optimistic that this is just the beginning of a series of successful transactions, and we look
forward to capitalizing on the enormous opportunities the US market has to offer."

Company profile of Mutares SE & Co. KGaA
Mutares SE & Co. KGaA, Munich (www.mutares.com), a listed private equity holding company with offices in Munich (HQ),
Amsterdam, Bad Wiessee, Frankfurt, Helsinki, London, Madrid, Milan, Chicago, Mumbai, Paris, Shanghai, Stockholm, Vienna
and Warsaw, acquires companies in special situations which show significant operational improvement potential and are
sold again after undergoing a repositioning and stabilization process. For the fiscal year 2024, consolidated revenues
of EUR 5.7 billion to EUR 6.3 billion are expected. Based on this, consolidated revenues are to be expanded to approx.
EUR 7 billion by 2025 and EUR 10 billion by 2028. As the portfolio grows, so do consulting revenues, which together
with portfolio dividends and exit proceeds accrue to the Mutares Holding. On this basis, the Holding Company is
expected to generate a net income of EUR 108 million to EUR 132 million for the fiscal year 2024, EUR 125 million to
EUR 150 million for the fiscal year 2025 and EUR 200 million for the fiscal year 2028. The Management Board and
Supervisory Board together hold more than one-third of all Mutares shares with voting rights. The shares of Mutares SE
& Co. KGaA are traded on the Regulated Market of the Frankfurt Stock Exchange under the symbol "MUX" (ISIN:
DE000A2NB650) and have been part of the selection index SDAX since December 2023.

For more information, please contact:
Mutares SE & Co. KGaA
Investor Relations
Phone: +49 89 9292 7760
E-mail: ir@mutares.de
www.mutares.com
Press Contact in Germany
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Phone: +49 89 125 09 0333
E-mail: sh@crossalliance.de
www.crossalliance.de
Press Contact in France
CLAI
Matthieu Meunier
Phone: +33 06 26 59 49 05
E-mail: matthieu.meunier@clai2.com
Press Contact in UK
14:46 Consulting
Tom Sutton
Phone: +44 7796 474940
E-mail: tsutton@1446.co.uk
2024-07-08 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com  
Language:     English 
Company:      Mutares SE & Co. KGaA 

Arnulfstr.19
80335 Munich
Germany

Phone:        +49 (0)89-9292 776-0 
Fax:          +49 (0)89-9292 776-22 
E-mail:       ir@mutares.de 
Internet:     www.mutares.de 
ISIN:         DE000A2NB650 
WKN:          A2NB65 
Indices:      SDAX 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 

Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1940921

End of News EQS News Service
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1940921 2024-07-08 CET/CEST

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July 08, 2024 01:30 ET (05:30 GMT)