November 17 (SeeNews) - German-based private equity investor Mutares SE & Co. KGaA said on Wednesday it has signed a binding offer to acquire car static and dynamic sealings maker Sealynx International and its subsidiaries in Romania, France, Morocco and Algeria.
Provided that all necessary consents are obtained and consultations completed, the transaction is expected to close in the first quarter of 2022, Mutares said in a press release.
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"We are very happy to make this important step towards the acquisition of Sealynx International and start creating significant growth and cost synergies with our SFC Solutions Group to become a significant player in the European Sealing Business," Mutares CIO Johannes Laumann said.
Sealynx International is headquartered in Charleval, France. The company generated revenues of approximately 65 million euro ($73.5 million) in 2020 and employs over 700.
Sealynx is present in Romania since 2003 and employs 303 in a factory located in Arges county, according to data available on firms directory Risco.
Mutares is a listed private equity holding company with offices in Munich, Amsterdam, Frankfurt, London, Madrid, Milan, Paris, Stockholm and Vienna. The holding acquires small-and medium-sized companies and parts of groups in special situations with headquarters in Europe that show significant potential for operational improvement, which are sold again after undergoing a repositioning and stabilization process, according to its website.
($=0.8839 euro)