Magirus to change ownership again as Mutares agrees sale to Japan’s Morita
German firefighting vehicle manufacturer Magirus is preparing for another change of ownership. Mutares has signed an agreement to sell the company's firefighting business to Japan's Morita Holdings for €65 million, less than two years after acquiring Magirus from Iveco Group.
Magirus, the historic German manufacturer of firefighting and rescue vehicles, is set to change ownership once again. On November 9, investment company Mutares announced an agreement to sell the Magirus firefighting business to Japan’s Morita Holdings Corporation, a major manufacturer of firefighting vehicles and fire protection equipment.
The transaction follows Mutares’ acquisition of Magirus from Iveco Group, completed in January 2025. Under the new agreement, the firefighting business will become part of Morita, while the Defense & Security division will remain under Mutares’ ownership.
Founded in 1907, Morita is an established industrial group in the firefighting sector, with a strong presence in Asia. Its activities also include special-purpose vehicles and fire protection technologies. The group already owns Finnish manufacturer Bronto Skylift, which specialises in aerial rescue and access equipment.
Magirus: €780 million order backlog and growing revenues
According to Mutares, Magirus has made progress in its operational restructuring since the beginning of 2025, with improvements in productivity, quality management and manufacturing processes.
The firefighting business currently has an order backlog of approximately €780 million, while revenues are expected to reach around €400 million in 2026, representing growth of approximately 30% since the beginning of the transformation.
Magirus, founded in 1864 and headquartered in Ulm, employs more than 1,650 people in its firefighting operations, with major production and service sites in Germany, Italy, France and Austria, including the facility in Brescia.
Defence activities excluded from the transaction
The agreement with Morita does not include Magirus’ Defense & Security business, which will continue operating under Mutares and is expected to adopt a new independent brand following completion of the transaction.
Mutares intends to further develop this business, which has expanded following the acquisition of Austrian specialist Achleitner Fahrzeugbau in October 2025. The sale to Morita has been agreed but has not yet been completed. The companies have not announced a closing date.
