Acquisition of Tekfor S.p.A.
Mutares starts into 2020 with the successful completion of the acquisition of Tekfor S.p.A.
- Well-known Italian manufacturer of automotive components with sales of approx. EUR 120 million expected in 2020
- New platform investment strengthens the Automotive & Mobility segment
- Tekfor S.p.A. now operates under the new name PRIMOTECS
Munich/Milan, 4 February 2020 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of the Italian business of Tekfor Group, a manufacturer of high-quality components for Tier 1 and Tier 2 suppliers in the automotive industry. With the successful completion of the acquisition, the Italian company will operate and market under the new name PRIMOTECS.
PRIMOTECS employs approx. 670 people and operates two production sites in Northern Italy, where it produces components for use in electric, hybrid and conventional powertrains. The company has established itself as a well-known, profitable supplier within the automotive sector as well as the truck industry and related industries. In financial year 2020, the system supplier expects sales of approx. EUR 120 million with a break-even operating result. Under the new name PRIMOTECS, which stands for Mobility, Transmission, Engine Components & Solutions, the company will concentrate on the development of the current business, the capitalization of the acquired know-how and acceleration of further collaboration with customers.
“We are happy having completed the acquisition of PRIMOTECS and welcome our new colleagues to the Mutares family. I am convinced that due to our operational experience and expertise in the automotive segment, together we will develop PRIMOTECS successfully and bring even more value to its customers by extending the offering towards a solution supplier”, says Johannes Laumann, CIO of Mutares.