Mutares AG

Mutares AG is a private equity firm established in 2008 and headquartered in Paris, France. The firm focuses on acquiring small and medium-sized enterprises with the objective of sustainably enhancing their value. Mutares primarily invests in various sectors, including automotive, mobility, engineering, technology, retail, food, and goods and services. Through its strategic acquisitions, Mutares aims to foster growth and improve operational performance in the companies it partners with.

Mark Friedrich

CFO and Member of Executive Board

52 past transactions

Nbhx Trim USA Corp

Acquisition in 2025
The Nbhx Trim Group provides vehicle interiors and innovative products that elevate the perception, including beautiful wooden surfaces.

SMA Metalltechnik

Acquisition in 2025
SMA Metalltechnik is an innovative automotive supplier with experience in pipe manufacturing and has been a trusted partner.

Nervión Industries, Engineering and Services

Acquisition in 2024
Nervión Industries, Engineering and Services delivers industrial services and applied engineering solutions across strategic sectors, focusing on enhancing operational efficiency and technological innovation.

GDL

Acquisition in 2024
GDL specializes in logistics services offering customized solutions for terminals as well as agricultural transportation.

Alcura

Acquisition in 2024
Alcura partners with healthcare companies, professionals and organizations to provide innovative personalized solutions that improve patient care and treatment experience. They help deliver medicines, run clinical trials, and outsource patient support services for secondary care. Alcura operates in seven European countries: the UK, France, Spain, Italy, The Netherlands, Germany and Romania.

VR Group - VR Road Logistics Business

Acquisition in 2024
VR Group - VR Road Logistics Business is a Finnish road logistics company that provides services to industrial clients in the forestry, metals, construction, and mining sectors.

Drogerie Natura

Acquisition in 2024
Drogerie Natura offers cosmetics and beauty products.

Buderus Edelstahl

Acquisition in 2024
Buderus Edelstahl is a manufacturer of high-grade steels based in Wetzlar, Germany. The company specializes in designing and producing a variety of steel products, including tool and special engineering steel, open die forgings, and drop-forged components. Additionally, Buderus Edelstahl offers hot and cold strip and rolled semi-finished products, catering to diverse industrial needs. With a focus on quality and reliability, the company provides clients with standard steel products that meet rigorous industry standards.

Serneke Sverige

Acquisition in 2024
Serneke Sverige is a renowned general contractor that specializes in the construction of service and infrastructure buildings, as well as residential and commercial complexes.

fischer automotive systems

Acquisition in 2024
fischer automotive systems global manufacturer of automotive interior products including cup holders and other interior trim products.

Cikautxo Group

Acquisition in 2024
Cikautxo Group is a manufacturer of rubber and plastic components that supplies automotive, household appliance, and elastomeric material markets. The company produces fluid conduction, anti‑vibration, and sealing solutions, and also supplies materials for athletics tracks and playgrounds. It emphasizes innovation, quality, and sustainability, and operates as part of the MONDRAGON Corporation, fostering collaboration across its supply chain.

Sofinter

Acquisition in 2024
Sofinter Group is a key player in the international energy market, specializing in the design and construction of plants and components for steam production and electricity generation, particularly for industrial applications. The company is recognized for its leadership under the Macchi brand in the development of industrial and heat recovery boilers tailored for cogeneration cycles in the refining, oil and gas, and petrochemical sectors. Additionally, Sofinter operates under the AC Boilers brand, focusing on utility boilers for power generation. The firm is involved in desalination and seawater treatment systems through its subsidiary SWS "Saline Water Specialists," and it offers management services for industrial plants via EUROPOWER, providing engineering, procurement, and construction (EPC) services. Sofinter Group also boasts a prominent combustion research center, CCA Centro Combustione Ambiente, which specializes in innovative combustion techniques that promote low emissions and environmental sustainability. Furthermore, through its subsidiary ITEA, Sofinter has developed the pressurized flameless oxy-combustion technology, known for achieving near-zero emissions.

Greenview Group

Acquisition in 2024
Greenview Group is an electrical contracting company that provides integrated building services to both public and private sector clients across the United Kingdom and Ireland. The company specializes in mechanical, electrical, and heating services, as well as sustainable energy solutions. By focusing on quality delivery and efficiency, Greenview Group aims to offer custom solutions that deliver value for money and foster innovation in the industry. Additionally, the company provides asset maintenance services to ensure the longevity and effectiveness of its installations.

Temakinho

Acquisition in 2024
Temakinho is a restaurant chain based in Ibiza, Spain, specializing in Japanese-Brazilian cuisine. The establishment prides itself on sourcing high-quality raw materials from responsible suppliers, farmers, and fishermen who are passionate about their work. Temakinho's signature dishes, known as temakies, are prepared fresh upon order to ensure optimal crispiness of the seaweed, while the rice is cooked daily from controlled farming sources. The restaurant emphasizes the use of rigorously fresh fish, adhering to current health standards to cater to a diverse clientele, including pregnant women. In addition to its culinary offerings, Temakinho features a selection of beverages, with the caipirinha standing out as a highlight, crafted by skilled bartenders using premium Brazilian cachaças and fresh ingredients. The menu also includes energizing smoothies made from tropical fruits, alongside popular Brazilian beers and fizzy drinks. Temakinho accommodates private parties, corporate events, weddings, and business meetings, providing fresh food tailored to various occasions.

Recover Nordic Finland

Acquisition in 2023
Recover Nordic Finland is a provider of professional property remediation, damage restoration, and repair construction services to companies, communities, and individuals.

Gläserne Molkerei

Acquisition in 2023
Gläserne Molkerei is a producer of organic dairy products located in Münchehofe, Germany. The company specializes in a range of high-quality offerings, including organic milk, drinking milk, yogurt, buttermilk, butter ripened cheese, and naturally matured cheese. Gläserne Molkerei is committed to providing sustainable and unadulterated organic milk products, catering to consumers who prioritize quality and health in their dietary choices.

BEW-Umformtechnik

Acquisition in 2023
BEW-Umformtechnik is a manufacturer specializing in the production of highly stressed forged parts for various commercial industries. The company offers a range of services, including tool production, CAD design, forging, heat treatment, and processing of components. Its product lineup features solid-formed parts, drop-forged steel components, axle steering mechanisms, gear components, and individual forged parts. BEW-Umformtechnik serves a diverse clientele across sectors such as transportation, agriculture, construction, general mechanical engineering, and hydraulics, providing tailored solutions to meet the specific needs of its customers.

Walor

Acquisition in 2023
Walor is a leading European manufacturer specializing in high-precision mechanical parts, primarily serving the automotive and energy sectors. With 12 production sites across five countries and a workforce of approximately 1,600 employees, the company focuses on the design, production, and assembly of forgings and machined components, including parts for engines, gearboxes, and steering systems. Walor is recognized for its ability to meet stringent market and technical requirements, ensuring quality, cost-effectiveness, and capacity in the production of automotive mechanical components. Its clientele includes some of the largest manufacturers, system operators, and automotive suppliers in the industry.

NEM Energy

Acquisition in 2022
NEM Energy, established in 1929, is a leading engineering company specializing in heat transfer technology products for the power generation, renewable energy, and oil and gas sectors. The company provides custom-made solutions, including Heat Recovery Steam Generators (HRSG), Waste Heat Recovery Units (WHRU), and various components such as direct-fired and process boilers, diverters, and dampers. NEM Energy focuses on delivering tailored products and comprehensive services that enhance energy efficiency for its clients, ensuring effective solutions from design through to after-sales support. With a global presence, NEM Energy is recognized for its expertise in steam generating equipment and commitment to innovation in energy solutions.

Steyr Motors Company

Acquisition in 2022
Steyr Motors Company, established in 1978, is a Chinese manufacturer specializing in high-end small diesel engines. Based in Changzhou, the company produces and sells a diverse range of engine products, including marine diesel generators, special application products, and civil products such as multi-fuel systems and engine electronic control systems. Its engines power various vehicles and machinery, serving industries like automotive, construction, agriculture, and marine, with a focus on commercial and passenger vehicles, construction machinery, ships, agricultural machinery, and military applications.

MoldTecs

Acquisition in 2022
MoldTecs is a global supplier of high-performance plastic components specifically designed for the automotive industry. The company provides a diverse range of products, including air intake manifolds, high-pressure air lines, and fluid reservoirs, catering to the needs of leading original equipment manufacturers (OEMs) worldwide. By focusing on innovative solutions, MoldTecs contributes to advancements in cleaner mobility, ultimately promoting cleaner air and water.

LMS - Light Mobility Solutions

Acquisition in 2022
Light Mobility Solutions GmbH (LMS) is a medium-sized global supplier of exterior parts for the automotive industry

Sirti

Acquisition in 2022
Sirti is a service provider focused on the telecommunications, energy, and transportation sectors. The company specializes in the design and implementation of telecommunications infrastructure, offering turnkey solutions for mobile, broadcast, and fixed networks. Sirti's expertise extends to managed services, system integration, and the execution of specialized projects, enabling clients to enhance their operational capabilities in these critical industries.

Cimos

Acquisition in 2022
Cimos is a manufacturer of mechanical components and modules for the automotive industry, aiming to establish itself as a leading supplier in Europe. The company operates across Slovenia, Croatia, Bosnia and Herzegovina, and Serbia, producing a range of automotive parts including compressor and center housings, engine brackets, gearbox components, nozzle rings, and flywheels. Cimos focuses on enhancing business performance through innovative product design and the use of alternative materials for customized solutions, which contribute to reducing vehicle weight. The company's management policy emphasizes good management principles to achieve business excellence and long-term objectives.

Vallourec

Acquisition in 2022
Vallourec is a leading provider of premium tubular solutions for energy markets and demanding industrial applications. With over five decades of experience, they specialize in seamless precision steel tubes, serving prominent clients across various sectors such as oil & gas, automotive, and construction.

Cimos d.d.

Acquisition in 2022
Cimos d.d. is a manufacturer and marketer of automotive parts and equipment, established in 1972 and headquartered in Koper, Slovenia. The company specializes in a diverse range of products, including compressor housings, central housings, variable turbine geometry components, engine and accessory brackets, flywheels, exhaust system parts, turbo pipes, brake drums and discs, gearbox parts, and various other crucial components for motor vehicles. Cimos d.d. serves automotive manufacturers both domestically and internationally, supported by an extensive network of suppliers. The company operates multiple production facilities across Slovenia, Croatia, Bosnia and Herzegovina, and Serbia, demonstrating its significant regional presence in the automotive supply industry.

Special Melted Products

Acquisition in 2022
Special Melted Products has a rich heritage in metals production, tracing its origins back to the 1800s. The company specializes in manufacturing premium specialty steels and nickel-based superalloys tailored for critical applications in the aerospace, oil and gas, and civil nuclear industries. Utilizing advanced melting technology, it transforms waste steel into various low-alloy, stainless, and maraging steels, as well as non-magnetic grades. In addition to its manufacturing capabilities, Special Melted Products offers project management services, positioning itself as a comprehensive solution provider for original equipment manufacturers, forgers, and machine shops. This integrated approach enables the company to meet diverse needs for melted alloys and complex components efficiently.

Guascor Energy

Acquisition in 2022
Guascor Energy, with over 50 years of experience, specializes in the manufacturing of gas engines ranging from 0.2 MW to 2.0 MW, catering to applications in power generation, cogeneration, waste-to-energy, and maritime sectors. The company offers a comprehensive product portfolio that includes engines, spare parts, and aftermarket services, supported by a network of well-established distributors and agents knowledgeable in local markets. Guascor Energy is recognized for its innovation, having introduced high-performance gas piston engines. It is actively engaged in research and development to advance technologies that harness renewable energy and improve efficiency. Following its acquisition by Siemens Energy in 2017, the company now operates independently under the leadership of Mutares, positioning itself to capitalize on emerging trends such as decarbonization and the decentralization of the energy market.

Asteri Facility Solutions

Acquisition in 2021
Asteri Facility Solutions is a facility management service provider based in Stockholm, Sweden, with operations extending to major cities across the country. The company serves both public and private sectors, delivering a comprehensive range of services structured into four primary areas: facility management, office services, conference services, and hotel services. Asteri specializes in advanced cleaning solutions and hotel facility management, as well as window and facade cleaning, ensuring that clients can maintain a clean and efficient working environment for their employees.

Frigoscandia Distribution

Acquisition in 2021
Frigoscandia Distribution is a provider of temperature controlled logistics services, including transportation and warehousing.

Innomotive Systems Hainichen

Acquisition in 2021
Innomotive Systems Hainichen is a manufacturer and supplier specializing in components for the automotive industry, operating since 1992 in Germany. The company produces a variety of products, including aluminum hinges, door stops, oil pumps, and other aluminum components. Their product line includes hinges with integrated door holders, modular and standard hinges, rear pivot door hinges for vans, and bonnet hinges, some of which are equipped with integrated security systems. Innomotive Systems Hainichen focuses on delivering innovative solutions tailored to the needs of automotive manufacturers.

Ganter Group

Acquisition in 2021
Ganter Group is engaged in the construction sector and offers a range of real estate services. The company provides general contracting services tailored for retail, commercial, and residential markets. Its diverse offerings encompass fittings, interior design and planning, engineering, project management, and renovations for various properties, including hotels, offices, restaurants, and luxury brands. By delivering these services, Ganter Group helps clients fulfill their specific project requirements efficiently in terms of both cost and schedule.

Lapeyre

Acquisition in 2021
Lapeyre is an e-commerce platform specializing in home improvement products for both professionals and individual consumers. The company offers a diverse range of items, including indoor and outdoor furnishings, windows, doors, stairs, and kitchen and bathroom furniture. By providing adaptable and accessible solutions, Lapeyre aims to cater to the needs of its customers, facilitating home enhancement projects with a comprehensive selection of quality products.

ADComms

Acquisition in 2021
ADComms is a UK-based company that specializes in providing comprehensive telecommunications services tailored to the transportation and mobile telecoms sectors. The company offers a range of services, including engineering, design, logistics, integration, installation, decommissioning, and testing of communication systems essential for mission-critical infrastructure. This includes command and control systems, CCTV, access control, trespass warning systems, and passenger information systems. ADComms prides itself on its extensive experience and innovative engineering solutions, ensuring high-quality service and maintenance support. With a strong commitment to understanding customer needs and adhering to project deliverables and safety standards, the company successfully collaborates with clients in the rail industry, demonstrated by its achievement in delivering projects for Network Rail. ADComms holds the necessary accreditations to perform trackside installation and maintenance work, further reinforcing its reputation for operational excellence and safety.

Repartim

Acquisition in 2021
Repartim is a company that specializes in troubleshooting, repairing, and renovating homes and businesses. It offers a range of services aimed at both residential and commercial customers, including building renovation, water damage control, leak detection, fire control, and emergency repairs. By providing these essential services, Repartim enables customers to address various repair needs effectively and at affordable prices.

Clecim

Acquisition in 2021
Clecim is a manufacturing company serving metals and other heavy industries, including forging and shipbuilding. It specializes in mechatronics and spare parts and provides services such as mechanical welding, machining, assembly, piping, painting and testing. The company manufactures and commissions carbon- and stainless-steel processing lines, and produces stainless-steel rolling mills and related industrial products tailored to client specifications.

La Rochette Cartonboard

Acquisition in 2021
Founded in 1873 La Rochette Cartonboard SAS is a manufacturer of cardboard packaging products (FBB) used for the pharmaceutical, food and other sectors in which quality cardboard is required. From our production facility in Valgelon – La Rochette / France we serve a well-diversified customer base. As an independent company flexibility, quality and a good customer service are most important to us. Our main production input is mechanical pulp, wood chips, a side product from local saw mills. With short ways of transportation and a lower usage of adaptives than other paper producers our products have a low environmental impact. A biomass boiler is further supporting a sustainable production.

Iinovis

Acquisition in 2020
Iinovis is an automotive engineering service provider specializing in key areas such as vehicle development, simulation, testing, and electrics/electronics for original equipment manufacturers (OEMs) and Tier 1 suppliers. The company also engages in the manufacture of prototypes and small series, alongside the production of cable harnesses. With operations at five locations in Germany, Iinovis is well-equipped to support the evolving needs of the automotive industry, and it has access to test tracks in Spain to facilitate comprehensive testing and development processes.

Royal De Boer

Acquisition in 2020
Royal De Boer is a Dutch manufacturer specializing in livestock housing materials and barn equipment. The company offers a range of products including feed fences, cubicles, ventilation systems, cow handling solutions, manure management systems, and innovative farming technologies.

Japy Tech

Acquisition in 2020
Japy Tech is a manufacturer based in Dijon, France, specializing in high-quality cooling tanks for the dairy industry. The company produces a variety of cooling solutions, including pre-cooling systems, heat recovery units, and modular chillers, all designed to meet the diverse needs of dairy farms. In addition to its cooling products, Japy Tech also offers maintenance services, ensuring the efficient storage of fresh milk prior to its collection and transportation. Through its innovative designs and commitment to quality, Japy Tech serves both European and global markets, playing a crucial role in the milk cooling industry.

Lacroix + Kress

Acquisition in 2020
Lacroix + Kress is a manufacturer specializing in high-quality copper wire products. They produce bare, tinned, silver-plated, and nickel-plated surfaces for various industries including cable, automotive, food processing, and aerospace.

SABO Maschinenfabrik

Acquisition in 2020
SABO manufactures lawnmowers and other outdoor power products and markets them to homeowners, municipalities, and gardening and landscaping companies.

PrimoTECS

Acquisition in 2020
PrimoTECS, established in 2020, specializes in the manufacturing of forged steel components for the automotive industry. The company operates two plants in Italy, one in Avigliana for vertical hot, warm, and cold forging, and another in Villar Perosa equipped with Hatebur presses and machining lines. PrimoTECS produces high-quality components for engines, transmissions, and drivelines, catering to both conventional and electric/hybrid vehicles. Their production process includes horizontal and vertical hot-forming, cold and warm forging, heat-treatment, and in-house machining and assembly for finishing operations.

Kico

Acquisition in 2019
Kico specializes in the development and manufacturing of components for the automotive industry, focusing on the European market. The company produces a range of products, including hinges, locking systems, mechatronic systems such as electric rear hood drives and convertible top locks, as well as components for exhaust systems and door strikers. Kico's offerings are designed to meet the stringent quality requirements of the automotive sector, providing flexible and precision-engineered solutions tailored to the needs of its clients. Through its commitment to innovation and market-driven design, Kico aims to support the evolving demands of the automotive supply chain.

Plati

Acquisition in 2019
Plati is a manufacturing company that produces cable harness, automotive, injectors, air conditioners, horticulture, and x-ray machines.

Keeeper

Acquisition in 2019
Keeeper is a privately held manufacturer specializing in plastic and paper household products. The company focuses on creating items designed to enhance organization and tidiness in homes. Its product range includes baskets, buckets, waste bins, laundry baskets, multi boxes, changing mats, bathing stands for children, and baby bathing nets. Keeeper aims to provide customers with sustainable, durable, functional, and affordable solutions for everyday storage and organization needs.

Gemini Rail Group

Acquisition in 2018
Gemini Rail Group provides comprehensive rail industry solutions, including transport services, design and components, maintenance and repair, and support services. They specialize in turnkey train refurbishment and modernization projects, ensuring reliable service while prioritizing safety and sustainability.

Donges Group

Acquisition in 2017
Donges Group is a leading supplier of bridges and steel construction, as well as roof and façade systems in Europe. The company combines strong brands: Donges SteelTec GmbH, Kalzip GmbH, Nordec Oy, FDT Flachdach Technologie GmbH, and Permasteelisa Espana Donges Group SA. Donges Group employs around 1300 people worldwide and has a turnover of approximately 500 million euros.

Balcke-Dürr

Acquisition in 2016
Balcke-Dürr is a company with over 130 years of experience specializing in the manufacture of components aimed at enhancing energy efficiency and minimizing environmental impact for various industries. The firm produces essential components such as heat exchangers, cooling towers, and systems for nuclear decommissioning, as well as offering maintenance services for power, chemical, and industrial plants. By focusing on these critical areas, Balcke-Dürr supports its clients in achieving improved energy efficiency and reduced emissions, contributing to more sustainable industrial operations.
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