DC Advisory advises Mutares on the sale of NEM Energy Group to Hyundai Heavy Industries Power Systems
Background
- Since its founding in 1929, NEM Energy Group (NEM) has developed into a leading global OEM supplier of heat transfer technology, serving customers across power generation, industrial and energy transition end-markets
- Since its carve-out from Siemens Energy in 2022, NEM has been backed by Mutares SE & Co. KGaA. Under this ownership, NEM has become an independent and sustainably profitable platform, supported by a strong order backlog, a diverse global customer base, and recurring aftermarket revenues
- Based in Munich, Mutares is a listed European private equity firm with a strong track record in executing complex carve-outs and driving operational transformations
- Hyundai Heavy Industries Power Systems (HPS), owned by MiCo Ltd, is a major heavy equipment manufacturer
Process
- DC Advisory acted as the exclusive financial advisor to Mutares on NEM’s new partnership with Hyundai Heavy Industries Power Systems
- DC Advisory ran a bespoke and competitive process, leveraging its sector expertise, senior relationships and deal execution capabilities to identify and engage a competitive bidder group capable of supporting NEM’s next growth phase
- DC Advisory provided comprehensive M&A services, including overall transaction strategy and tactics, marketing material composition, due diligence coordination, and close support to the negotiations and related transaction documentation
Outcome
- On 10 June 2026, Hyundai Heavy Industries Power Systems, signed an agreement to acquire NEM Energy Group
- The closing of this transaction is subject to customary closing conditions and regulatory approvals
- Financial terms of the transaction were not disclosed
- Through this acquisition by HPS, NEM has found a strategic partner with complementary capabilities across the globe and a strong industrial footprint to support its next phase of growth
- This transaction reaffirms DC Advisory’s expertise in the Industrials sector and presence in the Benelux market
“NEM Energy Group is a strong example of what we do best: identifying companies with potential, transforming them into high-performing standalone platforms, and creating value for all stakeholders. The energy sector is experiencing exceptional structural demand dynamics, and we have positioned NEM perfectly to benefit from this environment. We are proud of having been part of the NEM journey and we are convinced the HPS team is the best possible owner to support NEM towards a future of further growth and profitable success.”
“We are pleased to have advised Mutares on this transaction and to have supported the sale of NEM to HPS. We have positioned NEM’s unique capabilities to act as a key engineering partner for global complex projects in heat transfer technology and energy transition solutions. We are confident that HPS is the right partner to support NEM’s next phase of growth.”
- Industrials
- M&A Advisory
Disclaimer
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