The German private equity company Mutares has reached an agreement to transfer the Basque company Guascor to the fund Oaktree for an equity value of 74 million euros, as the German holding company, which is listed on the Stock Exchange, has announced.
The transaction is expected to be completed towards the end of the last quarter of the year, provided that the usual conditions for this type of operation are met, including authorizations in matters of merger control.
Mutares took control of Guascor from Siemens Energy in November 2022, its first strategic investment transaction on the Iberian Peninsula. During this period, the firm drove the recovery of the company’s historic brand and launched an extensive value creation plan aimed at strengthening operational efficiency, while at the same time maintaining product quality and customer service.
Based in the Basque Country, Guascor is dedicated to providing engineering energy solutions for electricity generation, cogeneration, energy recovery from waste, and applications in the marine sector, an activity it has carried out since 1966.
Drawing on a strong in-house engineering capability and on gas and diesel engine technology developed internally, the company designs, manufactures, and provides maintenance services for high-capacity configuration systems, tailored to the specific requirements of each project, from individual engines to fully modular solutions.
Guascor serves an international customer base, supported by a global after-sales service network, and has a workforce of more than 200 employees.