MUNICH: Mutares SE & Co. has signed a put option to acquire Vallourec Bearing Tubes (VBT) from Vallourec.
The company will strengthen the Engineering & Technology segment as a new platform investment. The closing of the transaction is expected in the second quarter of 2022 after consultation of the works councils and subject to approval of the antitrust authorities.
Vallourec Bearing Tubes is headquartered in Montbard, Burgundy in France and employs over 200 people generating approx. EUR 50 million in revenues. The company is a European leader in the manufacturing of seamless high precision steel tubes, which are produced according to the most demanding standards. VBT offers a comprehensive range of products and tailor-made dimensions to meet customer specifications.
As the second largest player in the European bearing tubes market, the company supplies its products to various industries such as Bearings, Mechanical and Oil & Gas.
“With the acquisition of Vallourec Bearing Tubes, we are confirming our strong position in the French Market by securing a promising asset that, as a platform, will synergistically complement our existing portfolio, particularly with regard to PrimoTECS. We are confident that, together with the strong team on site, we will be able to unlock the company’s potential and lead VBT to sustainable profitability,” comments Johannes Laumann, CIO of Mutares.