MUNICH: Mutares SE & Co. has successfully sold its portfolio company JAPY Tech to the company’s management.
JAPY Tech is a manufacturer of high-quality cooling tanks and other milk cooling solutions, based in Dijon, France, supplying products to the worldwide dairy industry.
The company was acquired in 2020 from GEA Farm Technologies and has since then optimized its product mix and increased its overall efficiency while reducing costs.
After the successful transformation of JAPY Tech, the management is now confident and excited to further drive the company’s growth by diversifying its revenue base by shifting from a pure manufacturing company to a service driven company.
Johannes Laumann, CIO of Mutares, comments: “I am happy to announce our first exit in 2023 where we have exceeded our target of a 7-10x ROIC. The exit of JAPY Tech proves that we have successfully transformed the company together with the management, now ready to continue a sustainable growth path as a standalone company led by its management onsite.”