Mutares completed the acquisition of the Engineering Services Business Line from Valmet Oyj.

Mutares, a German-based holding company, completed the acquisition of the Engineering Services Business Line from Valmet Oyj, an automotive supplier. The acquired business provides engineering services to the automotive industry and serves both major OEMs as well as Tier 1 suppliers. Financial terms were not disclosed. "We are excited to welcome the Engineering Services Business of Valmet Automotive in the Automotive & Mobility segment of our portfolio. The company is well established in the European automotive industry and has terrific employees, whom I want to especially welcome to the Mutares family. I believe that Mutares, with its industry expertise, operational experience and track record in turnaround situations, is the optimal pick as new owner for sustainability and improvement of customer satisfaction and to drive further value-adding serviceability," Johannes Laumann, Mutares CIO.