Acerinox, S.A., a global stainless steel manufacturer with headquarters in Spain, has reached an agreement for the acquisition from Lindsay Goldberg Vogel GmbH and Falcon Metals BV. of VDM Metals Holding GmbH (VDM Metals).
With this deal, the Acerinox Group is looking to diversify into higher value-added sectors. VDM Metals represents a great opportunity for Acerinox to grow into new markets and sectors such as aerospace, chemical industry, medical industry, oil and gas and renewable energies, water treatment, and emissions control.
The deal has concluded in the acquisition agreement valued at €532 M. Acerinox will pay €310 M and will assume debt for an amount of €57 M and pension plans and other liabilities for an amount of €165 M. Acerinox will use its existing financing lines available for this acquisition.
Following the completion of the transaction, Acerinox will focus its efforts on the integration of both companies in order to extract the full value of expected synergies. The incorporation of VDM Metals to the Acerinox Group will increase the net sales and EBITDA by over 20%.
