Iveco, Magirus fireplace vehicles go to non-public fairness Mutares | EUROtoday

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Magirus, the historic Iveco fireplace vehicles move to the German non-public fairness Mutares. The sale introduced final March was thus concluded. The worth of the acquisition was not disclosed however, from a monetary perspective, the Turin group solely communicated that «the outcomes of the Iveco Group will endure an impression of roughly -115 million euros within the first quarter of 2024. This one-off adverse impact will probably be excluded from all adjusted metrics.”

In 2023 Magirus contributed approximately 2 percentage points to Iveco Group’s revenues, recording a negative adjusted Ebit of 35 million euros. Of these 6.4 million are the loss of Magires Italia, the plant in Brescia dedicated to assembly where almost 200 people are employed. Magirus CEO Thomas Hilse, president of Iveco’s firefighting division, leaves the group and the announcement is made immediately after the news of the closing of the sale to Mutares.

The buyers

Mutares acquires medium-sized companies with significant operational development potential. In its new ownership configuration, Magirus, as stated in a note, «enters a new chapter in its long history, which will allow it to compete even more efficiently and effectively in its particular reference market. The brand has served firefighters and rescue workers around the world since 1864.”