Oaktree buys Guascor Energy from Mutares for €74M
What's the deal? German investor MutaresDealroom has a profile for this one. Try Dealroom → has agreed to sell its power business Guascor EnergyDealroom has a profile for this one. Try Dealroom → to Oaktree Capital ManagementDealroom has a profile for this one. Try Dealroom → for an equity value of €74 million. The deal, announced November 11, covers 100% of Guascor Energy and its sister company Guascor Power USA, and goes to Oaktree's Power Opportunities strategy.
What each side brings: Guascor is an independent provider of engineered energy solutions, with exposure to power generation, cogeneration, waste-to-energy, and marine markets. Mutares, which specialises in turnarounds, acquired the business from Siemens Energy in November 2022 as a carve-out and rebuilt it as a standalone company.
Why now? The exit follows a recovery at Guascor, where Mutares reported improved revenue and operating results in the first half of 2026 after restructuring and resolving earlier quality issues. That turnaround makes it a cleaner handover for a buyer betting on the next growth phase.
What could go wrong? Closing is expected by the end of the fourth quarter of 2026 but remains subject to customary conditions, including merger control approvals. The announced price alone does not reveal the return Mutares will realise on its 2022 carve-out.
The signal: The sale fits a broader wave of private-equity interest in power and engine businesses. In June, Bain CapitalDealroom has a profile for this one. Try Dealroom → agreed to buy a majority stake in engine maker Everllence, citing demand for behind-the-meter power for data centres; Oaktree itself agreed in September to sell grid-equipment group COLDealroom has a profile for this one. Try Dealroom → to Eaton for €810 million. As energy infrastructure draws capital, Oaktree is buying exposure to generation at the point where a restructured asset is turning the corner.
Read more: ad-hoc-news.de
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