Mutares Sells NEM Energy Group to Hyundai HPS

Goals Achieved! Mutares Announces Completion of the Sale of a Portfolio Company

2026-09-09 Source: dpa 1 min Reading Time

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Mutares has sold NEM Energy B.V. and NEM Balcke-Dürr—together known as the NEM Energy Group—to Hyundai Heavy Industries Power Systems Co., Ltd. (HPS), a division of the Korea Exchange ...

Mutares supported two of its portfolio companies to help them strengthen their position. It worked out perfectly. Now both have been sold. Read here to find out exactly what this is all about...(Image: Mutares) — Mutares supported two of its portfolio companies to help them strengthen their position. It worked out perfectly. Now both have been sold. Read here to find out exactly what this is all about...
(Image: Mutares)

The NEM Energy Group, headquartered in Zoeterwoude, the Netherlands, is a global specialist in heat transfer technology with leading market positions in heat recovery steam generators (HRSGs), exhaust and diverter systems (Exhaust and Diverter

Systems) as well as for heat exchanger systems. Customers come from the energy generation, oil & gas, and general industrial sectors, as well as from the nuclear energy sector and the growing markets associated with the energy transition. In fiscal year 2025, the Group employed approximately 470 employees at its locations in the Netherlands, Germany, and India. Since acquiring NEM Energy as part of a “carve-out” transaction from Siemens Energy in December 2022, Mutares has successfully developed NEM Energy into an independent, innovative, operationally strengthened, and sustainably profitable platform, as emphasized. The operational structure has been significantly improved, and the company has invested in a new “go-to-market” approach.

Mutares Proves Its Worth as a Companion

The transaction represents a successful exit for Mutares, the statement continues, and serves as a prime example of the company’s ability to create significant value for its shareholders through operational transformation and strategic repositioning. Mutares focuses on companies in industries with structural tailwinds, where demand dynamics support long-term growth. The energy sector, in particular, is currently benefiting from rising global demand for reliable, efficient, and lower-emission energy generation options, from energy security considerations, and from the ongoing transformation of the global energy system. NEM’s positioning in these high-growth and dynamic markets aligns perfectly with Mutares’ investment approach and value creation expertise.

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