Munich - DONGES STEELTEC GmbH, a portfolio company of the listed private equity investment company Mutares SE & Co. KGaA, has signed a contract for the sale of the Finnish Nordec Group Oyj. The buyer consortium consists mainly of the two Finnish family offices Harjavalta Oy and Tirinom Oy. The transaction is expected to close in the fourth quarter of the current year, subject to customary regulatory approvals. All parties involved have agreed not to disclose the details of the transaction. Nordec Group has been an important part of the Donges Group since its acquisition in 2020 and is considered one of the leading suppliers of steel frame structures and facade solutions for building projects in the Nordics. The company has a strong market position in Central and Eastern European countries.
An international CMS team led by lead partner Dr Jessica Mohaupt-Schneider provided comprehensive legal advice to Mutares throughout the exit process together with Finnish partner law firm Castrén & Snellman. Mutares SE & Co. KGaA is a long-standing client and regularly draws on the expertise of the Munich CMS team, for example in the acquisition of Innomotive Systems Hainichen GmbH from SUMEC, a Chinese state-owned company.
Mutares SE & Co. KGaA focuses on the acquisition of parts of large corporations (carve-outs) and medium-sized companies in transitional situations. The aim is to leverage the development potential of the usually low-earning target companies within the framework of an active turnaround process and to lead them onto a stable and profitable growth path. Most recently, the company was able to increase group turnover in the first half of the year by more than 60 percent to around 1.75 billion euros. For 2022, Mutares is targeting revenues of 4 billion euros.
CMS Germany
Dr Jessica Mohaupt-Schneider, Lead Partner, Munich
Florian Kamienke, Senior Associate, Munich, both Corporate/M&A
Dr. Fiona Savary, Senior Associate, Munich, TMC
CMS Poland
Blazej Zagorski
Joanna Bialoskorska
Pawel Sliwka
Inhouse Mutares
Dr Angélique Schraud
Castrén & Snellman
Press Contact
presse@cms-hs.com
