MUNICH: Mutares SE & Co. has signed an agreement on the acquisition of the Ericsson Services Italia S.p.A. from Ericsson Telecomunicazioni S.p.A, a news release said.
The company is a leading provider of Information and Communication Technology (ICT) services to service providers. The closing of the transaction is expected in Q1 2021.
Ericsson Services Italia operates telecommunication services throughout Italy. It is headquartered in Rome and employs more than 260 employees. The company is a dedicated service company for network rollout and onsite maintenance services.
The main clients are the Italian mobile operators. In 2019, the company generated revenues of approx. EUR 45 million.
Johannes Laumann, CIO of Mutares comments: “We are excited to welcome Ericsson Services Italia to our Portfolio and I am confident that Mutares is the right partner to accelerate the company’s potential. We will continue to strengthen the presence in the Italian network rollout market as an Ericsson partner and we are happy to continue being a prime Ericsson supplier in such key industry.”
Mutares SE & Co. KGaA, Munich, as a listed private equity holding company with offices in Munich (HQ), Frankfurt, Helsinki, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires medium-sized companies and parts of larger groups with headquarters in Europe that show a clear potential for operational improvement and are sold again after undergoing a repositioning and stabilization process.
Mutares actively supports and develops its portfolio companies with its own investment and consulting teams as well as through acquisitions of strategic add-ons. With for aim a ROIC (Return on Invested Capital) of 7 to 10 times on the total investment with a focus on sustainable growth of the portfolio companies.
In 2020, Mutares SE & Co. KGaA expects generated consolidated revenues of approx. EUR 1.8 billion employing more than 15,000 people worldwide. Based on this, consolidated revenues are expected to increase to approximately EUR 3.0 billion by 2023.
Mutares is strongly committed to a sustainable dividend policy consisting of a base dividend and a performance dividend, which has been stable above 10% yield in the past years.
The shares of Mutares SE & Co. KGaA are listed on the Frankfurt Stock Exchange under the ticker symbol “MUX”. www.mutares.de