Livingstone’s Industrial team has advised the shareholders of WaldrichSiegen Holding GmbH, part of HerkulesGroup, on the acquisition of UNION Werkzeugmaschinen GmbH Chemnitz.
HerkulesGroup manufactures heavy duty machine tools for grinding, turning, texturing and milling applications in production facilities across Germany, USA, China and India. The precision large horizontal boring machines produced by UNION perfectly complement the HerkulesGroup’s existing product portfolio. After the acquisition of UNION, the HerkulesGroup will employ more than 1,800 people worldwide and will offer existing clients of the Group further strategic benefits in all major and emerging markets.
“The product range and the specific know-how available at the various companies belonging to the HerkulesGroup enhance and complement the scope of services for our customers”, says Christoph Thoma, Chairman & CEO. “In the future, UNION will be able to make use of our sales structures. At the same time, our real net output ratio together with increased production capacities will provide benefits in terms of procurement. Overall, excellent prospects have been opened up by this acquisition for all companies operating within to the HerkulesGroup” he adds.
UNION was acquired from a group of shareholders including management and Dutch investor group Nimbus. The Livingstone team was led by Partner Jochen Hense, Partner at Livingstone Düsseldorf. This is the eighth deal completed by Livingstone’s Industrial team in 2011 to date.