- Mahindra & Mahindra will remain as a co-shareholder
- Peugeot Motocycles has annual revenues of around €140 million
- Mutares has now made 13 acquisitions this year
Mutares is set to invest in Peugeot Motocycles after the private equity firm submitted an irrevocable binding offer to buy 50 percent of equity and a controlling stake of 80 percent in the firm. Mahindra & Mahindra will remain as a co-shareholder in the deal, expected to close in the first quarter of 2023.
Peugeot Motocycles has annual revenues of around €140 million. It manufactures two and three-wheeler scooters that are distributed across 3,000 points of sale in France and internationally, across three continents. It is headquartered in Mandeure, France, where it has a manufacturing facility that is a joint venture with China’s Jinan Qingqi Motorcycle Co. It also has manufacturing partnerships with other Asian firms.
“Peugeot Motocycles is an internationally recognised brand built on a rich history as the world’s oldest manufacturer of motorised two-wheelers,” said Johannes Laumann, CIO of Mutares. “Furthermore, Peugeot Motocycles acts as an OEM and we see a huge potential of strong synergies arising within our automotive and mobility segment.”
Mutares, a listed private equity holding company headquartered in Munich, has been buying a lot of firms of late, with the Peugeot Motocycles its 13th acquisition of the year. Last week, it completed the acquisition of Siemens Energy Engines, a manufacturer of gas and diesel engines for power generation, cogeneration, waste-to-energy and marine uses.