MUNICH: Donges Group, a 100% owned portfolio company of the Munich-based turnaround- investor Mutares, has completed the acquisition of Ruukki Building Systems, the Building Systems division of the Finnish Ruukki Construction, a subsidiary of SSAB Group.
The transaction was signed in July 2019 and following the approval of the Finnish competition authorities, the transaction was successfully completed on 30 April, 2020.
Ruukki Building Systems, headquartered in Helsinki, Finland, is one of the leading suppliers of building system solutions in Northern and Eastern Europe. The Company is a project business specializing in the design, manufacture and installation of building frame, envelope and bridge structures out of steel.
Ruukki Building Systems operates four production sites in Finland, Poland and Lithuania. The company is able to deliver heavy steel structures and bridges as well as other type of steel and concrete frame structures to its customers. In 2019, the business recorded revenues of around EUR 140 million, a positive operational result and employed approx. 500 people.
Marking the fifth strategic add-on, Donges Group continues its path for growth and success. “The acquisition complements the Groups’ existing setup by additional engineering and production know-how in the Nordics and Eastern Europe and realizes synergies within the Group.”, says Johannes Laumann CIO Mutares SE & Co. KGaA.
Furthermore, with this transaction Donges sustainably strengthens its positioning in the attractive Nordic markets to develop into a European group specialized in engineered steel solutions and various custom-made solutions for envelope systems. Following today’s acquisition, the Donges Group will generate close to EUR 400 million in annualized group revenues and employs worldwide more than 1,400 employees.
SSAB is a Nordic and US-based steel company. SSAB offers value added products and services developed in close cooperation with its customers to create a stronger, lighter and more sustainable world.
The Donges Group has been part of the Mutares Group since November 2017 and represents a strategic platform investment in its Engineering & Technology portfolio segment. The Group is one of the leading European construction and engineering companies specializing in the design and manufacture of building structures including building envelope solutions based on steel, aluminum, polymer membranes and now wood.