Mutares Plans IPO for Terranor Group AB on Nasdaq First North

Mutares SE & Co. KGaA announced its intention to list its portfolio company, Terranor Group AB, on Nasdaq First North Growth Market in Stockholm by the end of June 2025. The decision follows a successful turnaround strategy since Terranor's establishment as a standalone entity in 2020/2021. With 2024 revenues of approximately EUR 285 million, Terranor has become a leader in operations and maintenance services for state and municipal roads in Sweden, Finland, and Denmark.

An IPO would allow institutional and retail investors to engage with a market spurred by increasing governmental spending on road maintenance. Mutares, remaining the majority shareholder, sees this as a milestone in its buy-and-build approach, underscoring its value creation strategy. The planned offering is a testament to Mutares' investment and operational enhancements, positioning Terranor well in the Nordic region.