Mutares SE sells Lacroix + Kress to Superior Essex

• Lacroix + Kress’ sale to Superior Essex follows Mutares’ ‘best new owner’ strategy
• Superior Essex, based in Atlanta, Georgia, is a global provider of magnet wire
• Munich, Germany-based Mutares invests in medium-sized companies

Mutares has sold its portfolio company Lacroix + Kress to Superior Essex Global. No financial details of the transaction were disclosed.

Lacroix + Kress is an oxygen-free copper drawing manufacturer in Europe and employs around 250 people. The firm is based in Bramsche, Germany.

The sale of Lacroix + Kress to Superior Essex follows Mutares’ ‘best new owner’ approach and enables a vertical integration of the two firms, according to a release.

Superior Essex, based in Atlanta, Georgia, is a global provider of magnet wire and a subsidiary of the South Korean LS Group. The firm operates in Germany under the company Essex Furukawa Magnet Wire.

Munich, Germany-based Mutares invests in medium-sized companies in special situations, based in Europe, which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilisation process. The firm expects consolidated revenues of around €4 billion for FY22.