Callista acquires MWK Renningen GmbH and MWK Schwaebisch Gmuend GmbH
- Callista Private Equity expands portfolio and acquires 100% of the shares of two aluminum foundries in the Stuttgart area
- Transfer of the shares of MWK Renningen GmbH and MWK Schwaebisch Gmuend GmbH completed
- Jobs and production site guarantees issued for both Renningen and Schwaebisch Gmuend
Munich, May 6th, 2014 – Callista Private Equity GmbH & Co. KG (“Callista Private Equity”) announces the acquisition of all shares of the aluminum foundries MWK Renningen GmbH and MWK Schwaebisch Gmuend GmbH. The companies were previously owned by the internationally operating Georgsmarienhütte group, which is focusing more on its core business and therefore sold the units in a structured process. The parties agreed not to disclose the purchase price.
MWK Renningen GmbH is a specialist in developing and producing high-quality cast aluminum products primarily for the automotive industry. During fiscal year 2013 the company achieved sales of EUR 28 million with a workforce of 195, based in Renningen. Its clients include leading car producers such as DAIMLER, Porsche, Bentley and Volkswagen, Audi and MAN. MWK Schwaebisch Gmuend GmbH is one of Europe’s leading producers of chillers via the sand casting method. It currently generates annual sales of over EUR 30 million with a workforce of 170. Among the customers of MWK Schwaebisch Gmuend GmbH there are BOSCH, SIEMENS, ALSTOM and Buderus.
In the course of the transaction, the buyer issued extensive guarantees for current jobs and production sites both for MWK Renningen GmbH and MWK Schwaebisch Gmuend.
Olaf Meier, Chief Executive Officer of Callista Private Equity, comments on the transaction: “We are very excited about the new addition to our portfolio and the confidence expressed in the course of the transaction by the seller. We see good growth potential especially for aluminium casting specialists and therefore commit to the production sites in Germany.” Marc Zube, Chief Operating Officer of Callista Private Equity, adds: “In the context of the restructuring, we target to acquire further automotive suppliers in order to diversify the revenue base and to encounter increasing competitive pressure by creating rising economies of scale.”