MGG strengthens its position in the European market of high-precision aluminum components with the acquisition of Eurotech Group
Tegelen, 21 February 2018, MGG Group B.V. (“MGG”), the specialist in complex, high-precision aluminum sand casting and subassemblies, announces the acquisition of Eurotech Group B.V. (“Eurotech”). The customer base of both companies is highly complementary, further expanding the client proposition, from a commercial, as well as a technological and geographical perspective.
Eurotech, with sites in Blerick (The Netherlands), Třešť (Czech Republic) and Schwäbisch Gmund (Germany) is, like MGG, a specialist in complex, high-quality aluminum sand casting and (sub)-assemblies. The most important customers of Eurotech are active in the robotic-, medical-, energy- and heating industries.
With this acquisition, MGG will have consolidated pro-forma annual revenues of approximately € 250 million, with around 1,600 employees across 8 locations in 4 countries. The acquisition of Eurotech aligns perfectly with MGG’s growth strategy. This is the second acquisition since Parcom Capital joined MGG as a majority shareholder in February 2017, after acquiring the high-tech company CSA Herzogenburg from Austria in December 2017.
Bart-Jan van den Boogaart, CEO of MGG, states: “We are pleased to be able to welcome Eurotech Group to the MGG-family. The customer base of Eurotech is fully complementary to the rest of the MGG-group. As a result, the client proposition is being expanded further, commercially, as well as technologically and geographically. The employees and the businesses of Eurotech as well as those of the rest of the MGG-group have specific qualities which can greatly reinforce each other. This further strengthens our leadership position within the aluminum casting industry.”
Eric Lamkin, CEO of Eurotech Group, will remain responsible for heading the Eurotech companies and is looking forward to the collaboration: “The market for aluminum sand casting in Europe is developing rapidly. The larger players become stronger and are growing, also due to consolidation. The combination of Eurotech and MGG creates a large foundry with an even better market position in Europe, playing an increasingly leading role in the aluminum casting industry.”
Since the foundation in 1945, MGG has been at the forefront of the aluminum sand casting industry. MGG has a reputation for constant innovation in automotive and other industrial branches. With unmatched commitment and our extensive knowledge of aluminum casting technology (sand casting, LPSC as well as machining and assembly), MGG provides its customers with the very best innovative and cost-effective solutions. MGG uses a fully integrated approach so that MGG can deliver “ready-to-install” products, to meet the high customer requirements.
Eurotech is a manufacturer of high-precision sand casting parts and modules and a partner offering its customers a total package: from design and engineering to assembly and logistics. We use a broad range of technologies and expertise focused on simplifying processes, limiting production costs and reducing lead times.
About Parcom Capital
Parcom Capital is a leading mid-market private equity firm and was founded in 1982, focusing on investments in high-quality, leading companies in the Benelux. Over the past 35 years, Parcom Capital successfully invested in more than 75 (international) companies. Recent investments have been made in Simpel, Jan Snel, GoodHabitz, Euroma, ConDoor and Viroclinics.
For more information, please contact Bart-Jan van den Boogaart via email@example.com