Saturday, September 30, 2023

Cuatrecasas, CMS advise on Mutares´ acquisition of Siemens Energy Engines

Cuatrecasas has advised Mutares SE & Co. KGaA on its acquisition of manufacturer of gas and diesel engines Siemens Energy Engines S.A.U. and related assets from Siemens Energy S.A, with the seller represented by CMS Spain


A vehicle owned and managed by Mutares SE & Co. KGaA has signed an agreement to acquire Siemens Energy Engines S.A.U. and related assets  from Siemens Energy S.A. This acquisition will strengthen the Engineering & Technology segment as a new platform investment. The closing of the transaction is expected by the end of the third quarter of 2022 and is subject to fulfilment of customary conditions and approvals.

Siemens Energy Engines is a designed for power generation, cogeneration, waste-to-energy and marine uses. The engine business is headquartered in the Basque Country, Spain and employs around 270 people worldwide offering a best-in-class product portfolio with two complementary engine platforms, serving customers all over the world. With a highly international customer base, the company delivers niche customised solutions and is well positioned to benefit from trends such as localization, decarbonisation and decentralisation of the oil and gas as well as the energy market.

“It is an honour to acquire this remarkable company and products in the energy, power generation and industrial applications sectors. The shift to reduce greenhouse gas emissions will increase the need for flexible power generation and we see Siemens Energy Engines with a few operational and strategic improvements well positioned to profit from this movement,” said Johannes Laumann, CIO of Mutares.

Mutares SE & Co. KGaA, Munich, as a listed private equity holding company with offices in Munich (HQ), Amsterdam, Frankfurt, Helsinki, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires medium-sized companies in special situations, based in Europe, which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. Mutares actively supports and develops the portfolio companies with its own investment and operations teams as well as through acquisitions of strategic add-ons.

Cuatrecasas advised Mutares SE & Co. KGaA on this deal with a German desk Corporate/M&A team formed by partner Kai Christian Fischer, senior associate Javier Alós and associate Paula Martinez.

The seller was advised by CMS Albiñana & Suárez de Lezo, with a team formed by partner
and Global co-head of Communications TMC Javier Torre de Silva, together with  Corporate / M&A counsel José Ramón Meléndez and Ignacio Cerrato.

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