Livingstone has advised Kurtz GmbH (hereinafter: “Kurtz”) on the sale of Kurtz Eisenguss GmbH & Co. KG (“Eisenguss”) to Rheinische Mittelstandsbeteiligungs GmbH (“RMB”). The parties have agreed not to disclose any details of the transaction. Eisenguss was previously part of the Kurtz Ersa Group and had benefitted in recent years from considerable investment aimed at achieving a significant share of the highly competitive iron castings market in the sub-10-tonne weight class. The equipment and technology used in the Smart Foundry also gained worldwide recognition among experts as a prime example of a modern Smart Factory. Sales grew, but in the course of the Group’s strategic development path it was decided to look specifically for a strategic investor with sufficient expertise and market standing to secure the long-term future of the foundry and its 90 jobs in the town of Hasloch near Würzburg. The new company will now operate under the name Eisenguss Hasloch Smart Foundry GmbH (“EGH”). The 166-year-old foundry joins the buyer’s existing iron foundries Hulvershorn GmbH & Co KG and SHW High Precision Casting Technology GmbH to create a foundry group covering almost the entire spectrum of weights and sizes in all possible standard and special materials including ADI, chrome and chilled cast iron. The investor’s portfolio also includes the aluminium die casting company Eisenmann Druckguss GmbH. “For us as an investment holdings company in the iron foundry sector, this has been a very special opportunity to acquire EGH, one of the most modern hand-moulding foundries in Europe. The company’s set-up and production capacities complement our other portfolio businesses perfectly,” remarked Rainer Langnickel, Managing Director of RMB. “We are convinced that RMB, with its strategic holdings, is the right buyer for the company, and that it will be able to exploit the relevant synergies within the group to great effect,” said Rainer Kurtz, CEO of Kurtz Group, summing up the deal. “We would particularly like to thank everyone involved in the Deal Team for their excellent work which was pragmatic, swift and professional throughout,” he added. “We are delighted that the shareholders and management of the Kurtz-Ersa Group placed their trust in us to assist them in an advisory capacity with the strategic direction the Group is now taking. The search for a seasoned industry expert and suitable long-term partner for the Group’s very established facilities was challenging and exciting, and we think that, with RMB, we have found a promising solution. It was a great pleasure for us to be able to advise this established company on the sale, together with the management and the Kurtz-Ersa team, and we would like to thank everyone involved for their excellent teamwork,” said Dr. André Schröer, Livingstone Partner in Düsseldorf. The seller’s legal advice was obtained from lawyer and auditor Ulrich Bail and his team from Erlanger Treuhand GmbH in Erlangen.