Mutares clicks into gear with Siemens Energy Engines

• The company produces engines for power generation, cogeneration, waste-to-energy and marine uses
• It supplies customised niche services to an international customer base
• The company is well positioned to benefit from trends in the energy markets, according to Mutares

Mutares announced that it has completed the acquisition of Siemens Energy Engines, a manufacturer of gas and diesel engines for power generation, cogeneration, waste-to-energy and marine uses.

The company will operate under the name Guascor Energy. It is is based in Gipuzkoa, Spain and employs around 270 people worldwide. It is the first platform acquisition in Spain by Mutares.

The company supplies customised niche services to an international customer base and is well positioned to benefit from trends such as stationary power generation and decarbonisation, according to Mutares.

Mutares is a private equity company based in Munich that invests in small and medium-sized companies across the automotive and mobility, technologies and engineering, and goods and services sectors. It looks for companies with sales of between €100 million to €750 million.

PE Hub Europe has covered several Mutares deals this year, most recently the firm’s deal for temperature-controlled logistics provider Götene Kyltransporter as well as its purchase of Mann+Hummel Group’s high-performance plastic parts business earlier in October.