Mutares has received an irrevocable offer from Fouré Lagadec, part of France’s SNEF Group, to acquire Clecim, its steel engineering portfolio company.

The deal is expected to close in the fourth quarter of 2025 following works council consultations and customary approvals.

Clecim, based in France, is a global supplier of carbon and stainless-steel processing lines, rolling mills, mechatronic products, and metallurgical services. With revenues of approximately €55m and around 200 employees, the company has served steelmakers worldwide for more than a century.

Since being carved out of Primetals Technologies in 2021, Clecim has undergone a major transformation under CEO Thomas Comte and the Mutares operations team. The programme focused on tighter project management, improved profitability, and cost optimisation. Clecim also pursued diversification, expanding into defence and energy markets.

The transaction is expected to deliver a return on invested capital of more than 10x for Mutares. Johannes Laumann, CIO of Mutares, said: “The aimed sale of Clecim validates Mutares’ strategic approach to unlocking value for its portfolio companies. Over the past four years, we have successfully repositioned Clecim as a stand-alone company, ready for further global expansion, by leveraging our specialised knowledge of the steel engineering industry. This exit to a strategic buyer would demonstrate our team’s ability to grow and stabilise companies while creating sustainable value for Mutares and our portfolio companies.”

Fouré Lagadec plans to build on Clecim’s growth initiatives and further expand the business internationally.

The deal underscores private equity’s ability to drive value creation in industrials through carve-outs, operational optimisation, and strategic repositioning.

If you think we missed any important news, please do not hesitate to contact us at news@pe-insights.com.

Can`t stop reading? Read more.