Mutares Acquires Steinmüller Engineering from IHI Group

Mutares SE & Co. KGaA has agreed to acquire Steinmüller Engineering GmbH from the IHI Group. The German company, founded in 1874 and part of IHI since 2014, specializes in thermal-process engineering for energy and industrial sectors. The acquisition marks Mutares' latest move in the energy transition and decarbonization market, taking advantage of regulation-driven growth.

Steinmüller, headquartered in Gummersbach, Germany, recorded a total output of nearly EUR 100 million last year. It offers engineering solutions for combustion, incineration, pollution control, and heat transfer, backed by European patents, and employs about 170 people. Over 1,300 projects have been delivered to over 500 clients across 80 countries.

Mutares expects transaction closure by Q4 2026, which aligns with its strategy to enhance its Energy & Technology segment. The acquisition brings synergies, notably with Sofinter Group, strengthening the company's position in the decarbonization field.