on Mutares SE & Co. KGaA (isin : DE000A2NB650)
Mutares Sells Cimos to Management Backed by Vero Automotive
Mutares SE & Co. KGaA has divested Cimos to its management team, supported by Vero Automotive. Cimos focuses on manufacturing components for the automotive industry such as turbochargers, powertrains, and electrification elements. The company operates multiple production sites across Slovenia, Croatia, Serbia, and Bosnia and Herzegovina, employing around 1,350 people and generating approximately EUR 120 million in revenues.
This sale represents a strategic move in managing Mutares' Automotive & Mobility portfolio, aligning with their targeted scaling down in this sector. Under Mutares' ownership since 2022, Cimos has witnessed substantial operational improvements, becoming an essential part of the FerrAl United Group. Johannes Laumann, CIO of Mutares, expressed confidence in Cimos' future, highlighting the management's deep understanding of the company.
R. H.
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