MUNICH - Mutares (ETR:MUXG) SE & Co. KGaA, the Munich-based investment holding, has completed a pivotal agreement to acquire PRINZ Kinematics GmbH from AL-KO, marking its thirteenth acquisition of the year. The transaction is set to enhance the capabilities of KICO & ISH Group within the automotive supply sector, with PRINZ's last year's revenues amounting to approximately EUR 55 million. The deal is expected to be completed in the final quarter of this year.
PRINZ, which has been operating since 1985 in Stromberg and has additional facilities in Bulgaria and China, employs around 300 people and is known for producing kinematic system components such as hinges for high-profile OEMs including Mercedes-Benz (OTC:MBGAF), BMW (ETR:BMWG), Daimler Truck, and Volvo (OTC:VLVLY).
The integration of PRINZ into Mutares' portfolio is anticipated to propel KICO & ISH Group's revenues to nearly EUR 350 million in the next fiscal cycle. Robin Laik, CEO of Mutares, highlighted the acquisition as a significant step in strengthening their Automotive & Mobility division, which also includes High Precision Components.
Looking forward, Mutares has set ambitious revenue targets, aiming to increase from the current fiscal's EUR 4.8-5.4 billion to an estimated EUR 7 billion by the end of fiscal year 2025 and potentially reaching up to EUR 10 billion by the conclusion of fiscal year 2028. Shares of Mutares are traded under the ticker "MUX" on the Frankfurt Stock Exchange. This strategic move is expected to not only enhance their market presence but also expand their innovative offerings in the automotive sector.
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