Mutares Completes Acquisition of Majority Stake in Sofinter Group

Munich, April 23, 2024 – Mutares SE & Co. KGaA announced the completion of its acquisition of a majority stake in Sofinter Group, a global provider of industrial and utility boilers. This acquisition enhances Mutares' Engineering & Technology segment, synergizing with existing holdings such as NEM Energy Group. Sofinter, renowned for its diverse and technical proficiency in the boiler manufacturing, reported revenues surpassing EUR 200 million in 2023.

The Italy-based Sofinter operates four factories and employs approximately 680 staff. Its brand portfolio includes Macchi, AC Boilers, Europower, and Itea, offering various high-quality boiler technologies and services in over 45 countries. Recognized for its extensive R&D investments, Sofinter plans to expand its aftermarket services globally.