Mutares' Q1 2020 portfolio review: two exits and three acquisitions

Harriet Matthews
15 May 2020

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Munich-headquartered GP Mutares has published its Q1 2020 results, announcing that it has made two exits and three acquisitions in the quarter, as well as placing a bond on the Frankfurt and Oslo stock exchanges.

The GP sold energy efficiency equipment producer Balcke-Dürr's Polish operations, and Bexity's Czech Republic-based subsidiary in Q1 2020.

Mutares also placed a €50m senior secured, four-year floating-rate bond in February 2020, which is listed on the Frankfurt and Oslo stock exchanges.

Three acquisitions were completed by the GP in Q1 2020. Its portfolio company Balcke-Dürr bought Italy-based Loterios. Meanwhile, Mutares completed two platform investments and acquired an 80% stake in Italy-based Nexive, a subsidiary of PostNL, in February 2020. The GP also acquired Cooper Standard's sealing and fluid activities.

The GP said in a statement that its 2020 outlook will be affected by the coronavirus pandemic. However, it also expects to complete two more platform acquisitions in Q2 2020.