Munich-based investor Mutares has taken over Efacec
Efacec is not just a manufacturer of charging stations, but also offers other products in the areas of energy, technology and mobility solutions – “with distinctive expertise in the field of the energy transition”, as the new owner Mutares emphasizes in the press release.
The letter does not mention how much the subsidiary Mutares Iberia has invested in Efacec. However, the acquisition is expected to generate revenue of EUR 200 million in 2024.
Efacec has its headquarters in Matosinhos and production facilities in Maia (Porto/Portugal). The company employs around 2,000 people in total. “Supported by its strong R&D capabilities and global presence, Efacec is internationally recognized as a renowned company in the energy transition and electrical engineering sectors,” says Mutares.
Efacec’s reputation has sometimes suffered in the field of electromobility. A few years ago, the Portuguese company was an important supplier of charging stations for Allego. However, as Efacec’s DC products attracted attention over time, particularly due to their unreliability, the charging stations were increasingly avoided. Allego is now relzing on Alpitronic and Tritium for the expansion.
Mutares is looking to make some changes, but remains vague Efacec is “an ideal addition to the Mutares portfolio and will benefit from a strong platform through which value-enhancing improvements will be achieved”. As a result, the company will “regain its leading market position and resume its growth trajectory”. Other companies from the Mutares investment network will also help with this. According to the Munich-based company, “relevant synergies with other Mutares portfolio companies have already been identified”.