Mutares sells Guascor Energy to Oaktree Power Opportunities

Mutares SE & Co. KGaA has agreed to sell Guascor Energy S.A.U. and its sister company Guascor Power USA, Inc. to Oaktree's Power Opportunities strategy for an equity value of EUR 74.0 million. The transaction was announced on 11 November 2026 and is expected to close by the end of the fourth quarter of 2026, subject to customary conditions including merger control approvals.

Guascor is headquartered in the Spanish Basque Country and dates back to 1966. It designs, manufactures and services engineered energy systems using proprietary gas and diesel engine technology, from standalone engines to containerized solutions, and employs more than 200 people. Mutares acquired the company from Siemens Energy in November 2022 through a carve-out, its first platform investment in Iberia.

Mutares CIO Johannes Laumann said the sale confirms the firm's ability to turn around complex carve-outs. He said Guascor had become an independent, profitable energy business and that Oaktree is an excellent owner to support its future growth.