DC Advisory Partners advised Plansee Group on the sale of PMG to Vermögensverwaltung Erben Dr. Karl Goldschmidt GmbH (VVG)
Essential Information
Client
Plansee
Date
December 2011
Deal value
€ Undisclosed
Advice Type
Sell-side Advice, Adviser to the Shareholders
Sector
Automotive
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DC Advisory Partners advised the Austrian family-owned Plansee Group on the sale of its subsidiary PMG to the long-term industrial holding Vermögensverwaltung Erben Dr. Karl Goldschmidt GmbH (VVG). The sale is in line with Plansee’s strategy to focus on developing its molybdenum and tungsten-based materials businesses.
PMG is a leading global supplier of sintered components and systems for transmission, engine, and shock absorbers for the automotive industry with seven production plants in Spain, Germany, Austria, the USA, and China. The Company is a preferred supplier to, and has long standing customer relationships with, market-leading global automotive OEMs and Tier 1 suppliers. PMG was founded as a joint venture between Plansee and Thyssen in 1960 and currently employs 1,200 people.
The acquisition provides VVG with a significant investment beside its existing Thermit operations and is an ideal extension of its technology-oriented portfolio into the automotive sector. VVG plans to further grow the Company together with its current management and will focus on the prospective change in individual mobility toward electric and hybrid vehicles, as well as further strengthening the development of the system components business, and substantially increasing PMG’s presence in the emerging markets.
DC Advisory Partners acted as the sole financial advisor to Plansee and the Company. Financial terms of the transaction were not disclosed.
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