Acerinox signs an agreement with VDM Metals

The CEO of Acerinox, Bernardo Velázquez, and the President and Managing Partner of Lindsay Goldberg Vogel (former holding company of VDM Metals), Thomas Ludwig, signed the agreement for the company with headquarters in Germany to form part of Acerinox. 
The transaction is valued at € 532M, of which Acerinox disbursed € 310M recently, assuming debts of € 57M, giving rise to a valuation of 5.5 times EBITDA before synergies.
The new Group company is a global leader in the development and manufacture of special nickel alloys, as well as high-performance stainless steels, and is recognized as a R+D+I benchmark in the industry.
This is very positive news that involves a strategic business development opportunity for the Group and is also a project for the future that enables Acerinox to diversify part of the business, grow and create new possibilities for progression.
The activities performed and products manufactured by Acerinox and VDM in their respective fields compliment each other, and the transaction has clear manufacturing, sales and distribution benefits for both companies and will contribute significant synergies of at least € 14M.
Previous articleEmerson unveils Daniel T-200 for ultrasonic flow meter
Next article50-year old furnace upgraded
Stainless Steel World is part of The KCI Media Group, a group of companies focused on building and sustaining global communities in the flow control industries. We publish news on a daily basis and connect business-to-business professionals through our online communities, publications, conferences and exhibitions.