Mutares, a German-based holding company that acquires medium-sized companies in turnaround situations and facilitates their restructuring needs, agreed to acquire Toshiba Transmission & Distribution Europe, a provider of full turnkey projects, battery storage systems, smart grids solutions. Financial terms were not disclosed. “This deal marks our tenth acquisition in 2021 underlining our success growth story in the past years and years to come. The Company complements our existing portfolio in the field of power efficiency of Balcke-Dürr Group. With Toshiba Transmission & Distribution Europe we can now further concentrate and expand the business of renewable systems, which already today marks a very important business field and can contribute to a more sustainable source of energy,” Johannes Laumann, Mutares CIO.