In 2016, Mutares significantly invested in the development of the organization. In Munich and Paris, Mutares moved into new offices and the teams in M&A and Operations were significantly enlarged. The ambitious recruiting activities will be continued in 2017. The Italian organization is currently in the process of establishment. The sharpened investment focus on platform and add-on acquisitions already showed its great potential in 2016. The Executive Board sees the growth opportunities strengthened by the development of the organization. The current portfolio has been segmented into five industry segments. Thus, the profile and the core competencies of Mutares as an operational, sustainable investor get distinctly emphasized.