Mutares Agrees To Acquire TREPEL Airport Equipment And MAFI Transport-Systeme

The international private equity investment company Mutares SE & Co. KGaA, headquartered in Munich, Germany, has reached an agreement with NDW Maschinenbau Holding to acquire the two enterprises, Trepel Airport Equipment and Mafi Transport-Systeme.

This transaction covers all operational businesses of the two companies. Both are well-known brands in the field of ground support equipment and heavy transportation solutions. This acquisition will further strengthen Mutares' infrastructure and specialized industrial business segments. The transaction is expected to be officially completed in the third quarter of 2026.

The two companies operate globally and mainly provide airport ground support equipment, port and industrial logistics supporting equipment. Among them, TREPEL focuses on the aviation sector, offering aircraft traction vehicles, high-position cargo loaders and loading and transfer equipment; Mafi specializes in heavy port traction vehicles and complete transportation systems used in port, logistics hubs and industrial scenarios.

This business segment has an integrated production base in Tauberbischofsheim, Germany, and service stations in Georgia, USA. The sales and service network covers over 115 countries worldwide. Currently, the two companies have a combined annual revenue of approximately 150 million euros and 410 employees.

The enterprise customer base is diverse, and the supporting service business is growing steadily. The related revenue accounts for approximately 12% of the total revenue, providing stable and sustainable returns. Previously, the company has completed a comprehensive transformation, strengthening its development foundation through operational optimization and cost control. Its profitability has room for continuous improvement and is expected to achieve long-term development in the global airport ground support, cargo handling and specialized industrial transportation equipment markets.

Mutares' Chief Investment Officer, Johannes Looman, said: "This acquisition adds high-quality assets to our infrastructure and specialized industrial business segments. Both brands have deep history, stable market positions and business layouts worldwide. This business has considerable operational optimization space and a clear profit growth path. We will work with the management team to continuously improve operational efficiency and help them become leading platforms in their respective markets."