Ontime completed the acquisition of Fuentes Quality Logistics from Mutares.

Ontime, a Spanish integral logistics operator, completed the acquisition of Fuentes Quality Logistics, a Spanish service company that specializes in temperature-controlled logistics, from Mutares, a German-based holding company. Financial terms were not disclosed. "The sale of Fuentes underlines our ability to identify companies with solid business models and attractive market positions. In a short period of time, we have realized significant shareholder value on the back of key operational improvements and the company's unique strategic positioning. We are pleased to have found a highly synergistic new partner to support future growth. This transaction will generate a significant earnings contribution for Mutares and supports our target of EUR 200 million exit proceedings," Johannes Laumann, Mutares CIO.