Iveco Group N.V. (EXM: IVG) has announced that full ownership of Magirus GmbH, along with its firefighting-related operations, has been transferred to Mutares SE & Co. KGaA (ISIN: DE000A2NB650). This transaction is in line with the agreement made on 13th March 2024, with the final purchase price adjusted to reflect MAGIRUS’s business performance throughout 2024.
Following the agreement with Mutares, the Firefighting Business Unit has been classified as “Discontinued Operations” since Q1 2024. The one-off effects related to the transaction are excluded from Iveco Group’s adjusted metrics.
Mutares, a publicly listed private equity holding company, specializes in acquiring medium-sized businesses in unique situations that present significant potential for operational improvements. Under Mutares’ ownership, MAGIRUS embarks on a new chapter in its storied history, enhancing its ability to compete more effectively and efficiently in its specialized market. Since 1864, MAGIRUS has been a trusted partner to firefighters and disaster responders worldwide.
Iveco Group N.V. (EXM: IVG) is a global leader in sustainable mobility solutions, driven by its portfolio of innovative brands and a commitment to advancing a more sustainable society. Each brand under the Iveco Group umbrella is a powerhouse in its respective industry, offering cutting-edge products and services designed to meet the evolving needs of businesses and communities worldwide.
At the forefront of the Group’s operations is IVECO, a pioneer in the commercial vehicle sector, delivering heavy, medium, and light-duty trucks. FPT Industrial complements this with advanced powertrain technologies that cater to agriculture, construction, marine, power generation, and commercial vehicle applications. In the mass transit and premium coach segment, IVECO BUS and HEULIEZ stand out for their reliable and innovative transportation solutions.
Iveco Group’s specialized brands address niche markets with unmatched expertise. IDV provides highly specialized defense and civil protection equipment, while ASTRA is a leader in heavy-duty vehicles for quarry and construction applications. To ensure seamless financial support across all its brands, IVECO CAPITAL serves as the Group’s dedicated financial services arm, enabling customers to invest in state-of-the-art solutions. As of December 31, 2023, Iveco Group employs over 36,000 people globally and operates 20 industrial sites along with 31 R&D centers.
