MUNICH: Mutares SE & Co. KGaA has successfully completed the acquisition of the German Metallurgie Business of Nexans, a news release noted.
The company with manufacturing locations in Bramsche and Neunburg, Germany is now operating under the name Lacroix + Kress GmbH.
The German based company employs approximately 250 employees at its two manufacturing sites and serves major first and second tier customer bases for the automotive industry, white goods and general industrial applications.
In 2020 the company expects revenues of approx. EUR 120 million.
As a new platform investment Lacroix + Kress fosters significant synergies across segments for the existing portfolio company Plati and thus creates the opportunity to accelerate growth potential and profitability in both companies.
New platform strengthens the Engineering & Technology segment:
- High synergies with existing portfolio
- Leading oxygen free copper drawing manufacturer for diversified industries with automotive focus with approx. EUR 120 million expected revenues in 2020
- The company now operates under Lacroix + Kress GmbH
Mutares SE & Co. KGaA is a German-based holding company that acquires medium-sized companies in turnaround situations and facilitates their restructuring needs. Since its establishment in 2008, Mutares has acquired more than 25 companies and carried out several divestments.