Mutares Places Minority Stake in Terranor to Expand Free Float and Strengthen Capital Markets Profile

Mutares Places Minority Stake in Terranor to Expand Free Float and Strengthen Capital Markets Profile

(IN BRIEF) Mutares has placed 2.5 million shares in Terranor Group AB with qualified investors, increasing the free float and significantly improving liquidity in the stock. The transaction generated gross proceeds of approximately EUR 6 million and reflects strong investor demand. Following a multi-year operational transformation that restored growth and profitability, Terranor is now better positioned in the public markets, while Mutares continues to hold a 57 percent stake and remains actively involved in the company’s strategic development. The placement delivers a return on invested capital well above Mutares’ target range and marks another milestone in its portfolio value creation strategy.

(PRESS RELEASE) MUNICH, 17-Dec-2025 — /EuropaWire/ — Mutares SE & Co. KGaA has successfully completed the placement of 2.5 million shares in Terranor Group AB (publ) with qualified domestic and international investors, reflecting strong market interest in the infrastructure services company. The transaction corresponds to approximately 12.5 percent of Terranor’s outstanding shares and generated gross proceeds of around EUR 6 million. As a result, liquidity in Terranor shares has increased materially, further strengthening the company’s position in the public markets.

The placement was designed to broaden Terranor’s shareholder base by enabling existing investors to expand their positions while welcoming new investors to the stock. A key outcome of the transaction is the higher free float, which improves tradability and visibility on the capital markets. Increased liquidity enhances Terranor’s attractiveness to a wider range of investors and supports the company’s continued development as a publicly listed entity.

From Mutares’ perspective, the transaction delivers a return on invested capital well above the firm’s target range, underscoring the value created since Terranor’s acquisition and subsequent transformation. Mutares initially acquired Terranor’s Swedish and Finnish operations in 2020 through a carve-out from NCC, followed by the acquisition of the Danish business in 2021. Since then, a focused operational and strategic transformation has driven a return to revenue growth and sustainable profitability.

Despite the partial share placement, Mutares remains a long-term anchor shareholder in Terranor, holding a 57 percent stake. The firm will continue to actively support Terranor’s strategic and operational development as the company pursues further growth opportunities in its core markets.

Johannes Laumann, CIO of Mutares and a board member of Terranor, described the placement as an important step in advancing portfolio value creation and progress toward Mutares’ targeted exit ambitions. He highlighted Terranor’s positive business momentum, marked by steadily improving profitability, as evidence of the successful transformation carried out over recent years, and reaffirmed Mutares’ ongoing commitment as a majority shareholder.

Media Contact:

CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Phone +49 89 125 09 0333
E-Mail: sh@crossalliance.de
www.crossalliance.de

SOURCE: Mutares SE & Co. KGaA