Mutares carves out two units from Gea Group

The deal includes the companies' production facilities located in France and the Netherlands, with a total of around 230 employees.

Both companies will continue to operate in their current units and sites, but will be placed under a newly created holding company controlled by Mutares.

This deal is the eighth acquisition made by Mutares in 2020. Earlier this month, the firm carved out the Germany-based engineering services business line of Finland-based automotive supplier Valmet Automotive.

Gea Group is a listed company headquartered in Düsseldorf that specialises in a wide range of activities, spanning from food and beverage production to pharmaceutical and chemical applications. The group generated EBITDA of €479m from revenues of €4.9bn in 2019. It has a market capitalisation of around €5.3bn.

This exit is part of a plan to divest selected activities in the farm technologies and refrigeration technologies divisions, announced by the group in 2019. Gea exited its Dutch cheese-producing machinery maker De Klokslag in September 2019 and sold its compressor manufacturing division Bock to private equity firm Nord Holding in September 2020.

Company
Gea Farm Technologies Japy is headquartered in Dijon, France, and is a manufacturer of milk cooling tanks used by farms across Europe. Its products include cooling tanks for small dairy farms and applications with additional options and components for larger farms. The company generated revenues of approximately €20m in 2019.

Based in Leeuwarden, the Netherlands, Royal De Boer is a manufacturer of barn equipment. Its product portfolio includes feed fences, cubicles, and ventilation and manure systems. Employing 115 staff, the company generated revenues of around €30m in 2019.

People
Mutares – Robin Laik (CEO).
Gea Group - Stefan Klebert (CEO).

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