Mutares completed the acquisition of Heat Transfer Technology from Siemens Energy.

Mutares, an investment firm, completed the acquisition of Heat Transfer Technology from Siemens Energy, an energy company. Financial terms were not disclosed. “With the acquisition of Heat Transfer Technology we are strengthening our Engineering & Technology segment and expect significant synergy effects with the business of our subsidiary Balcke-Dürr. The topic of energy efficiency is becoming a crucial component in both industrial processes and power plants, not least due to the current energy debate, in order to increase efficiency, minimize costs and save CO2. Therefore, we see an enormous potential to further grow the company and are looking forward to our future business cooperation with the Siemens Energy Group within the Heat Transfer Technology business,” Johannes Laumann, Mutares CIO.