Binder Grösswang advised Mutares on the acquisition of Steyr Motors
Binder Grösswang advised the Munich-based private equity investor Mutares SE & Co. KGaA on the acquisition of Steyr Motors Betriebs GmbH and Steyr Motors Immo GmbH from the Thales defence and security systems group.
Mutares, a listed restructuring fund focussing on special situations, concentrates on takeovers of parts of large groups (carve-outs) and medium-sized enterprises in turnaround situations.
With this acquisition, Mutares intends to expand its presence in Austria and in the engineering & technology segment. The acquisition of Steyr Motors is the second buy-side deal on the part of the recently opened Mutares office in Vienna.
Steyr Motors Betriebs GmbH is an Austrian company specializing in the production of diesel motors (for military vehicles and locomotives, among others). Based in Steyr, it currently has approximately 130 employees. Steyr Motors Betriebs GmbH manufactures powerful, innovative motors based on cutting-edge technology and conceived for applications in motor vehicles and boats.
The transaction was closed on 30 November 2022.
The Binder Grösswang deal team, led by Thomas Schirmer (partner, M&A) and Felix Fuith (senior associate, M&A), included Clemens Willvonseder (partner, tax), Barbara Gangl (attorney, tax), Johannes Barbist (partner, regulatory), Regina Kröll (attorney, regulatory), Hellmut Buchroithner (counsel, commercial and IP) and Christopher Marchel (associate, corporate/M&A).
Mutares was represented in-house by Jan Thöle (General Counsel) und Denis Ahluwalia (Head of Tax).
The Paris-based Thales Group is a listed defence and security systems group with business activities in the fields of military technology, aerospace, space, digital identity and security, and transport.