Mutares intends to float its portfolio company Terranor Group AB (publ) on Nasdaq First North Growth Market in Stockholm

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Mutares intends to float its portfolio company Terranor Group AB (publ) on Nasdaq First North Growth Market in Stockholm

• Aims for a listing of Terranor Group AB (publ) on Nasdaq First North Growth Market in Stockholm in June 2025
• One of the leading providers of operations and maintenance services with revenues of approx. EUR 285 million (SEK 3,147 million) in 2024
• Successful turnaround strategy implemented by Mutares since Terranor Group AB (publ)’s inception as a stand-alone entity in 2020/2021
• Mutares remains a committed majority shareholder

Terranor was acquired as a carve-out of NCC’s road maintenance operations in Sweden and Finland in 2020 and Denmark in 2021. The company is today one of the leading providers of operations and maintenance (O&M) for state and municipal roads in these countries, with revenues of approx. EUR 285 million (SEK 3,147 million) in 2024.

During Mutares’ ownership, Terranor has developed its market share through its tender strategy and is today well positioned in the Nordic region with a range of state, municipal and, to a limited extent, private contracts within road operation and maintenance services.

An IPO would provide an investment opportunity for institutional and retail investors to tap into this market, driven by an underlying increase in spending as a result of the focus on maintenance deficits at the state level.

Johannes Laumann, CIO of Mutares, comments: “We are excited to explore the IPO track for Terranor, a company offering services critical to societal infrastructure. This contemplated listing of Terranor marks a fantastic success for the buy-and-build approach and value creation strategy. Mutares would remain the majority shareholder following the offering.”

Company profile of Mutares SE & Co. KGaA
Mutares SE & Co. KGaA, Munich (www.mutares.com), a listed private equity holding company with offices in Munich (HQ), Amsterdam, Bad Wiessee, Chicago, Frankfurt, Helsinki, London, Madrid, Milan, Mumbai, Paris, Shanghai, Stockholm, Vienna and Warsaw, acquires companies in special situations which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process.

The shares of Mutares SE & Co. KGaA are traded on the Regulated Market of the Frankfurt Stock Exchange under the symbol "MUX" (ISIN: DE000A2NB650) and are part of the selection index SDAX.

For more information, please contact:

Mutares SE & Co. KGaA
Investor Relations
Phone: +49 89 9292 7760
E-mail: ir@mutares.de
www.mutares.com

Press Contact in Germany
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www.crossalliance.de

Press Contact in France
CLAI
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Press Contact in UK
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Tom Sutton
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E-mail: tsutton@1446.co.uk
 

IMPORTANT INFORMATION

This announcement is not and does not form a part of any offer for sale of securities.

Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Canada, the Hong Kong Special Administrative Region of the People’s Republic of China, Japan, New Zealand, South Africa or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.

The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States. Copies of this press release are not being, and should not be, distributed in or sent into the United States.

Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (together with any related implementing and delegated regulations, the “Prospectus Regulation”). Investors should not invest in any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.

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