Mutares will acquire Knorr-Bremse’s businesses in the UK, after the companies signed an agreement which is expected to be closed by this autumn.
Under the agreement, Mutares will purchase the UK vehicle services business of Knorr-Bremse RailServices and Kiepe Electric, including both Knorr-Bremse RailServices sites in Wolverton and Springburn as well as the Kiepe Electric facilities in Birmingham. The components and aftermarket business in the UK will be continued by Knorr-Bremse Rail Systems.
Under a set of commercial collaboration agreements with Knorr-Bremse, the businesses will be the preferred integration and installation partners of Knorr-Bremse. These formal collaboration agreements are designed to ensure a seamless transition period for employees and suppliers and are important for the continuity of delivery to customers and to ensure long term collaboration between Knorr-Bremse and the businesses on future opportunities. The businesses will be renamed shortly, in line with the strategic approach of Mutares.
Knorr-Bremse RailServices UK is a provider of a wide range of maintenance and overhaul services to rolling stock owners and train operating companies across the UK and Ireland.
Kiepe Electric, which was part of Knorr-Bremse Group since January 2017, is an active supplier of electrical systems to leading rail vehicle and bus manufacturers.
Mutares is a holding company that typically acquires companies or divisions that are no longer part of the core business of a larger corporation. Mutares specializes in increasing production efficiency, leveraging synergies and enabling growth. In particular, they invest in European companies that have significant potential for development and already possess established business models – often combined with strong brands.