on Mutares SE & Co. KGaA (isin : DE000A2NB650)
Mutares SE & Co. KGaA Announces Sale of iinovis Group to Accursia Capital
Munich-based Mutares SE & Co. KGaA has finalized the sale of iinovis Group to Accursia Capital, marking the company's second exit in 2024. iinovis Group, a firm specializing in automotive and industrial engineering services, operates out of Munich, Germany. It boasts a workforce of over 350 employees and generated revenue of approximately EUR 33 million in 2023.
iinovis Group has facilities in multiple locations, including four sites in Germany, a testing site in Spain, and a development center in India. The company excels in simulation, testing, electrics/electronics, and vehicle development for both cars and motorcycles. Its portfolio also includes prototyping, small series production, and wire harness manufacturing.
The successful divestment comes after Mutares acquired iinovis in 2020 from Valmet Automotive and subsequently restructured it as a standalone brand within the automotive sector. According to Robin Laik, CEO of Mutares, the sale will allow iinovis to advance its innovative engineering services and meet the growing E-Mobility development demand from Original Equipment Manufacturers (OEMs).
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