Mutares has completed the sale of NEM Energy Group to Hyundai Heavy Industries Power Systems (“HPS”)

Mutares has completed the sale of NEM Energy Group to Hyundai Heavy Industries Power Systems (“HPS”) • NEM Energy Group is a leading global OEM supplier of heat transfer technology • Mutares has successfully repositioned NEM into an independent and profitable platform after a complex carve-out in less than four years • NEM Energy Group is ready for next growth phase under HPS ownership with a significant order backlog and large pipeline ahead in the market • Exit delivers significant contribution to guidance for the current fiscal year

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