German private equity firm takes controlling stake in Peugeot Motorcycles
German private equity firm Mutares has acquired 50% of Peugeot Motorcycles, meaning it now controls a majority stake in the company.
Mutares SE & Co. KGaA has announced that it has successfully completed the acquisition of 50% equity and a controlling stake of 80% in Peugeot Motorcycles from Mahindra & Mahindra.
Mahindra & Mahindra will remain a co-shareholder to support the brand in the coming years with new product launches, as well as with the growth which Peugeot Motorcycles is expected to experience.
Peugeot Motorcycles, headquartered in Mandeure, France, designs and manufactures two- and three-wheeled vehicles. Those motorcycles and three-wheelers are distributed across three continents.
Peugeot Motorcycles generates revenues of approximately €140 million and has its own manufacturing facility in Mandeure, which is a joint venture with JNQQ in China.
Johannes Laumann, the CIO of Mutares, said this about the acquisition of Peugeot Motorcycles: “Peugeot Motorcycles is an internationally recognised brand built on a rich history as the world’s oldest manufacturer of motorised two wheelers. Furthermore, Peugeot Motorcycles acts as an OEM, and we see a huge potential of strong synergies arising within our automotive and mobility segment.”
Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, of Mahindra: “We are delighted to welcome Mutares to Peugeot Motocycles. Our efforts are aimed at preserving this French brand which has been delighting its customers for 124 years. With a proven track record of transforming companies across Europe, combined with a strong expertise in the automotive sector, Mutares is the ideal partner to strengthen and grow the brand with the continued support of M&M."
Mutares, a listed private equity holding company headquartered in Muinich, has been buying out lots of firms as of late. Peugeot Motorcycles have become the firm’s 13th acquisition within the last year. Mutares acquired another company as of a few weeks ago as they acquired Siemens Energy Engines, a manufacturer of gas and diesel engines for power generation, cogeneration, waste-to-energy and marine use.
