Mutares SE Elevator Pitch: Key Takeaways
🔍 Who is Mutares?
Mutares is a global private equity specialist focused on distressed carve-outs and special situations. The firm, headquartered in Munich, is family and owner-managed, with around 40% of shares held by management, ensuring strong alignment with shareholder interests.
“We take what others discard and transform it into something of value,” says CIO Johannes Laumann, encapsulating Mutares’ unique and entrepreneurial approach that sets it apart in the private equity landscape.
💼 Core Strategy
Mutares thrives on entrepreneurial transformation. It acquires non-core assets from corporates—typically underperforming, unloved businesses—and restores them through active hands-on restructuring. With ~160 operational experts embedded in the portfolio companies, Mutares drives turnaround from the inside out.
🌍 Global Expansion & Footprint
By 2025, Mutares is set to further its global reach, establishing new offices in Chicago, Tokyo, Mumbai, and Shanghai, in addition to its strong European base in cities like Frankfurt, Milan, Paris, and Helsinki. This expansion instils optimism for the company’s future growth and success.
This local presence enables deal sourcing and execution on a global scale, with expert understanding of regional nuances and distressed asset opportunities.
📦 Diversified Portfolio
Mutares segments its ~33 portfolio companies into four balanced sectors, mitigating cyclical risk:
- Automotive & Mobility – €2.8 bn annualized revenue
- Engineering & Technology – €1.5 bn annualized revenue
- Goods & Services – €1.6 bn annualized revenue
- Infrastructure & Special Industry – €1.4 bn annualized revenue
- These sectors span early-, late-, and non-cyclical industries, giving Mutares flexibility to buy and sell across market environments.
📈 Outlook 2025
Following years of dynamic growth, Mutares enters a new strategic phase focused on profitable exits and global consolidation:
- Transaction Pipeline: Over €200 million in gross exit proceeds targeted
- Revenues (Group): €6.5 to €7.5 billion
- Holding Net Income: €130 to €160 million
- EPS Target: €7 per share
- Mid-Term Goal: €200 million net income → €9 EPS
- Market Cap Vision: €1 billion
- Revenue Vision: €10 billion Group turnover
Laumann emphasises:
“We’re not a fund. We don’t have to exit on a clock. We sell when it makes sense.”
📌 Segment Outlook
- Automotive & Mobility: Consolidation and preparing large platforms for exit
- Engineering & Technology: Expansion driven by energy, infrastructure, and the “Trump effect” in industrial policy
- Infrastructure & Special Industry: Strong momentum in defence and logistics
- Goods & Services: Reliable, non-cyclical services with niche leadership
💰 Capital Allocation & Dividends
Mutares follows an attractive dividend policy:
Base Dividend: €2.00 per share
Performance Dividend: Additional payout from significant exits
Bond Investors: Access to double-digit returns with bonds maturing in 2027 and 2029, listed in Frankfurt and Oslo
🧩 Why Invest in Mutares?
- Leading European player in carve-out restructuring
- Globally diversified transaction and portfolio platform
- Hands-on, entrepreneurial turnaround strategy
- Management is personally invested
- Clear roadmap to €200m+ profits and €10bn turnover
- Strong alignment of shareholder value and sustainable growth
“With one share in Mutares, you’re exposed to 33 companies across industries—and we’re just getting started,” concludes Laumann.
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