MUNICH, GERMANY: A vehicle owned and managed by Mutares SE & Co. KGaA has successfully completed the acquisition of Siemens Energy Engines S.A.U. and related assets.

This new platform acquisition strengthens the Engineering & Technology segment and will operate under the new name Guascor Energy.

Headquartered in the Spanish Basque Country, Guascor Energy is a manufacturer of gas and diesel engines for power generation, cogeneration, waste-to-energy and marine uses.

The company supplies customized niche solutions to an international customer base and is well positioned to benefit from trends such as stationary power generation, decarbonization and decentralization of the oil and gas as well as energy markets.

The Siemens Energy engines business, which marked the first platform acquisition in Spain, employs around 270 people worldwide and offers a best-in-class product portfolio with two complementary engine platforms for customers around the world.

Siemens Energy Engines (former Guascor/Dresser-Rand) are generating a lot of excitement for their innovative design and combustion technologies, which can deliver the highest electrical efficiency and displacement within the smallest footprint.