acquisition Galvanotechnik Baum in Germany
- acquisition Galvanotechnik Baum GmbH (Germany)
- specialised in surface treatments with alloys including zinc-nickel and zinc-iron
- 245 employees, annual revenue approximately EUR 21 million
Aalberts strengthens portfolio of surface treatment in Germany
Aalberts Industries N.V. has reached an agreement to acquire 90% of the shares of Galvanotechnik Baum GmbH (“Baum”), established in Zwönitz (eastern part of Germany).
Baum, founded in 1977 by Helmut Baum, is specialised in surface treatments with alloys including zinc-nickel and zinc-iron. This is one of the most sustainable processes for reliable corrosion protection, as demanded by, among others, the automotive industry. Besides, Baum has the technology to use special high performance electrolytes for (partially) combination layers on complex customer products. In order to achieve a high and constant quality standard Baum uses fully automated production lines.
The acquisition of Baum furthermore offers the possibility to expand Industrial Services’ activities in Eastern Europe, using the strategic location near the Polish and Czech border.
In line with the strategy of Aalberts Industries this acquisition will therefore strengthen both the portfolio of surface treatment processes as well as the existing network of 10 centres in Germany and Poland, where Industrial Services already takes a leading market position.
With an annual revenue of EUR 21 million and approximately 245 employees, Baum is operating in two facilities: Zwönitz and St. Georgen (South of Germany). Nicolai Baum - grandson of the founder and after takeover still holder of 10% of the shares - and his management team will continue to grow the company together with Aalberts Industries.
The acquisition will be financed from credit facilities and will be realised after fulfilment of all formalities and approvals, which is expected before the end of October 2011. Baum’s results will immediately contribute to the earnings per share.