Mutares SE & Co. KGaA (MUX.DE, MUTRF), a Germany-based holding company, on Tuesday announced it has signed an agreement to sell portfolio company Conexus S.p.A. to Advanced Technology Systems Co., a wholly owned subsidiary of Maximum Return System Group, for undisclosed financial terms.
The transaction is expected to close in the first quarter of 2026.
The company maintains long-standing customer relationships across low-voltage, high-voltage and data center segments.
Conexus was acquired by Mutares in 2022 as Sirti Energia S.p.A., a specialist service provider for energy infrastructure in Italy.
The company operates across more than 10 locations nationwide and employs over 250 people.
In 2024, Conexus reported revenues of 104 million euros and EBITDA of 8 million euros.
On Monday, Mutares closed trading 0.34% lesser at EUR 29.45 on the XETRA.
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