MUNICH: Mutares SE & Co. has successfully completed the sale of its 73.25% stake in STS Group AG, a news release said.
The transaction with Adler Pelzer Group is already the third exit in the current year for Mutares and comprises the shares and the entire business operations of plastics and materials in Europe, China and the USA.
The company will become part of the Adler Pelzer Plastics division in the future.
STS Group AG had been part of the Mutares Group since 2013 and successfully completed a turnaround following a buy-and-build strategy. The IPO of STS Group AG took place in 2018, after which Mutares remained the main shareholder.
In financial year 2020, STS Group generated revenues of EUR 235.0 million and operating earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 14.7 million. The transaction includes the full 73.25% stake in STS Group AG held by Mutares.
“With the sale of STS, Mutares has once again achieved its target of a return on invested capital and our shareholders will participate in this success. I am also convinced that we are handing over STS Group to the best possible new owner,” says Robin Laik, CEO and founder of Mutares SE & Co. KGaA.
Mutares SE & Co KgaA share price
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30 Jun, 5:30 pm GMT+2 ·Disclaimer