Private Equity FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 7 SOURCES

Mutares

Also known as Mutares SE & Co. KGaA, Mutares Management SE

Listed Munich special-situations private equity investor (founded 2008) buying corporate carve-outs and companies in transition; 70% free float, Laik family ~21%; 33 holdings.

HEADQUARTERS: Munich, Germany
FOUNDED: 2008
AUM: —
OUTSIDE CAPITAL: Yes
TEAM LISTED: 11 people

Focus

STAGES: Buyout
SECTORS: Industrial & Manufacturing Mobility & Logistics Consumer & E-commerce Food & Agriculture
ASSET MIX: Private equityDirect investments
GEOGRAPHY: EuropeGlobal

Overview

Mutares SE & Co. KGaA is a Munich-based, listed private equity investor focused on special situations: carve-outs from large corporates and companies in restructuring or succession situations, which it turns around with in-house M&A and operations teams. As a listed company (about 70% free float, Laik family about 21%, management and supervisory board about 9%, May 2026) it invests as principal rather than managing third-party funds, and targets a 7–10x return on invested capital over a holding period of about three to five years. Since its founding in 2008 with a first office in Munich it has added offices including Amsterdam, Frankfurt, London, Madrid, Milan, Mumbai, Paris, Stockholm, Vienna, Helsinki, Warsaw, Shanghai, Chicago and Tokyo. Its site lists 33 holdings across Automotive & Mobility, Energy & Technology, Infrastructure & Defense, Goods & Services and Chemicals & Materials, with group revenue of EUR 6.5bn in FY 2025.

Investment thesis

Acquires loss-making or underperforming companies and corporate carve-outs with established business models and often strong brands, where earnings improvements are identifiable at the transaction stage and can be realised within one to two years, followed by buy-and-build add-ons and exit at a targeted 7–10x return.

PORTFOLIO (34)

Alterga
Industrial & Manufacturing
Amaneos
Mobility & Logistics
Conexus
Industrial & Manufacturing
Donges Group
Industrial & Manufacturing
Efacec
Industrial & Manufacturing
F.lli Ferrari
Industrial & Manufacturing
FerrAl United
Mobility & Logistics
Ganter Group
Industrial & Manufacturing
Gemini Rail Group und ADComms
Mobility & Logistics
Gläserne Molkerei
Food & Agriculture
GoCollective
Mobility & Logistics
Guascor Energy
Industrial & Manufacturing
HARO
Consumer & E-commerce
Holliday Premium Pigments
Industrial & Manufacturing
keeeper Group
Consumer & E-commerce
Kuljettava
Mobility & Logistics
La Rochette Cartonboard
Industrial & Manufacturing
Lapeyre Group
Consumer & E-commerce
Magirus
Industrial & Manufacturing
mimovrste=) & MALL.HR
Consumer & E-commerce
Move2Green
Industrial & Manufacturing
Natura
Consumer & E-commerce
Nervión Industries
Industrial & Manufacturing
NexPoint Materials
Industrial & Manufacturing
Nord Gas Solutions
Industrial & Manufacturing
Novastruct
Industrial & Manufacturing
Ohio Strip Steel
Industrial & Manufacturing
Palmia
Industrial & Manufacturing
SFC Group
Mobility & Logistics
Sofinter Group
Industrial & Manufacturing
Stuart
Mobility & Logistics
TREPEL & MAFI
Industrial & Manufacturing
Zendra Systems
Mobility & Logistics
Synthomer a.s.
Industrial & Manufacturing · since 2026

People

Robin Laik
CEO (Chairman of the Management Board) · source
Mark Friedrich
CFO · source
Johannes Laumann
CIO · source
Dr. Lennart Schley
COO · source
Volker Rofalski
Chairman of the Supervisory Board, Mutares SE & Co. KGaA · source
Dr.-Ing. Kristian Schleede
Chairman of the Supervisory Board, Mutares Management SE · source
Dr. Lothar Koniarski
Deputy Chairman of the Supervisory Board · source
Raffaela Rein
Member of the Supervisory Board, Mutares SE & Co. KGaA · source
Hans-Jürgen Raithle
Member of the Supervisory Board, Mutares Management SE · source
Florian Krapfl
Managing Director, Head of Germany · source
Jan Thöle
General Counsel · source

Frequently asked questions

Mutares is a private equity fund based in Munich, Germany, founded in 2008.

Yes. Mutares invests its own capital in private companies.

Mutares invests at Buyout stage in Industrial & Manufacturing, Mobility & Logistics, Consumer & E-commerce and Food & Agriculture.

Key people at Mutares include Robin Laik (CEO (Chairman of the Management Board)), Mark Friedrich (CFO), Johannes Laumann (CIO) and Dr. Lennart Schley (COO).

Mutares's investments include Alterga, Amaneos, Conexus, Donges Group, Efacec, F.lli Ferrari, FerrAl United and Ganter Group, among others.

The most recent publicly reported investment by Mutares is Synthomer a.s. (carve-out from Synthomer plc) (Carve-out acquisition (closing)), announced in Sep 2026.

Yes. Mutares manages capital from outside investors.