Mutares Completes Acquisition of Eltel Networks, Strengthens Goods & Services Portfolio

Mutares Completes Acquisition of Eltel Networks, Strengthens Goods & Services Portfolio

(IN BRIEF) Mutares SE & Co. KGaA has finalized the acquisition of Eltel Networks Energetyka S.A. and Eltel Networks Engineering S.A. from Eltel AB, marking a strategic move to bolster its Goods & Services segment. These entities, recognized leaders in electrical power engineering services, specialize in high voltage solutions and cater to major players in the energy sector primarily in Poland but also extend their expertise to cross-border projects. With approximately 410 employees and a revenue of EUR 36 million in 2023, the acquisition positions Mutares for expansion within Poland and neighboring regions, leveraging the surging demand in the high-voltage segment and drawing upon its experience from managing other portfolio companies like Conexus and Efacec.

(PRESS RELEASE) MUNICH, 7-Jun-2024 — /EuropaWire/ — Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has finalized the acquisition deal for Eltel Networks Energetyka S.A. and Eltel Networks Engineering S.A. from Eltel AB, marking a significant addition to its portfolio. The acquisition positions Mutares as a key player in the Goods & Services sector.

Eltel Networks Energetyka S.A. and Eltel Networks Engineering S.A. are recognized leaders in electrical power engineering services, specializing in high voltage solutions encompassing planning, construction, commissioning, and maintenance. Their operations primarily cater to medium and large-scale turnkey projects for transmission and distribution networks, serving major players in the energy sector. With a workforce of approximately 410 employees and strategic locations in Kraków, Rzeszów, and Olsztyn, the companies are well-equipped to serve the burgeoning Polish market while also extending their expertise to cross-border projects in the UK, Germany, and the Nordics. In 2023, the combined revenue of both entities amounted to approximately EUR 36 million.

Looking ahead, the companies under Mutares’ stewardship are poised to expand further within Poland and neighboring regions, particularly in the high-voltage segment, tapping into the surging demand fueled by energy transformation initiatives. This growth strategy draws upon Mutares’ wealth of experience gleaned from managing portfolio companies like Conexus and Efacec, positioning the newly acquired entities for sustained success in the evolving energy landscape.

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SOURCE: Mutares SE & Co. KGaA