Lincoln International: Benteler Automotive has sold its aluminum extrusion business in Denmark and France to Fidelium Partners
Benteler Automotive has sold its aluminum extrusion business in Denmark and France to Fidelium Partners
The two plants specialize in aluminum extrusion, forming and assembly. Ownership of the plants transferred to Fidelium on November 1st and the combined business will trade under the new name ALUNITED. Benteler and Fidelium have been working on a smooth transition for suppliers, customers and employees.
ALUNITED’s plans to capitalize on existing supply contracts for these sites while positioning itself for future growth in lightweight aluminum parts, particularly for the electric vehicle market, with battery tray systems, for example. The company will also benefit from synergies with the other leading automotive suppliers owned by Fidelium: R.E.T. and Mühlhoff Umformtechnik, whose customers include major car manufacturers, such as BMW, Daimler, Ford, Volvo, Volkswagen and their respective international suppliers.
Benteler’s decision to sell both plants marks the next step of the operational implementation of its transformation program. The transaction allows Benteler to focus on strategic production sites in Europe, enhancing its competitiveness, accelerating profitable growth in a volatile market and helping to secure employees in the region long term.
Ralf Göttel, Chief Executive Officer of Benteler, commented, “We are very pleased with this transaction which opens up new industrial perspectives for the Tønder and Louviers sites and all the local jobs associated with them.”
Dominik Beck, Managing Partner of Fidelium, commented, “The Tønder and Louviers plants have an excellent positioning in their respective markets. With aluminum becoming an increasingly important material for automotive manufacturers in the production of lightweight components, the facilities are set to take advantage of current trends in the automotive industry.”
Lincoln International was the exclusive sell-side advisor to Benteler, working closely with its management team and shareholders throughout the sale process. This included providing advisory expertise and managing the marketing, negotiation and due diligence phases of the transaction. The terms of the transaction were not disclosed. This represents Lincoln International’s 8th successful corporate automotive carve-out, sell-side transaction over the last 12 months. This transaction also represents the 2nd successful automotive carve-out transaction Lincoln has executed for Benteler.
A global, family-owned company serving customers in automotive technology, energy and mechanical engineering sectors. As a metal processing specialist, the company develops, produces and distributes safety-related products, systems and services worldwide. In the 2020 financial year, its revenues were €6.358 billion. The company is organized into two divisions: Benteler Automotive and Benteler Steel / Tube. With around 27,000 employees at 98 locations in 28 countries the company offers first-class manufacturing and distribution competence to its customers.
About Fidelium Partners
A private equity firm specializing in special situations, distressed, corporate carve-outs, acquisitions and holds long-term assets totaling €103 million.