Clearwater International has advised Heitkamp & Thumann Group (H&T), a leading global partner for the development and supply of world-class precision-formed components in both metal and plastic on the sale of its subsidiary Westfalia Metal Components Group (Westfalia), a leading manufacturer of lightweight safety-relevant chassis, body and seat components to Vollmann Group (Vollmann), a German manufacturer of metal and plastic components for the automotive industry.
The Heitkamp & Thumann Group is a family-owned company with headquarters in Düsseldorf, Germany. Founded more than 40 years ago, the group today comprises 16 companies in nine countries worldwide. H&T operates two core divisions and four business units. The two divisions of H&T are global leaders in their respective markets: H&T Battery Components is a world market leader in the manufacture of components for the portable consumer battery industry and a fast-growing supplier to the rechargeable battery industry. H&T Presspart is a specialised manufacturer of high precision metal and plastic components for the pharmaceutical industry. The ability to develop machines, tools, manufacturing systems and associated process technologies in-house is a particular strength of the Heitkamp & Thumann Group.
Westfalia supplies automotive OEM and Tier I customers and offers a wide range of high-quality body and chassis components, as well as seat parts using high-strength steel, steel and aluminium. Since the foundation of Westfalia in 1998, the company has developed its technology and product portfolio from a pure seating components supplier to a supplier of complex stamping and assembly parts. Westfalia is a one-stop-shop company, with a fully integrated value chain combining extensive process know-how with highly automated joining technology and has a longstanding diversified, international premium customer base. The company generates approx. €70m of sales and currently employs approx. 300 people in Germany and the Czech Republic.
The Vollmann Group, headquartered in Gevelsberg, Germany, is a family-owned company focused on the production and distribution of metal and plastic components for the automotive industry. The company employs 1,350 people and has 11 production sites in Germany, the Czech Republic and Hungary.
With Vollmann as a new shareholder, Westfalia has found a strong partner who will secure the growth of the company and its 300 employees. The product range, production capacities and customer relationships of Westfalia complement Vollmann’s recent investments. This transaction also marks an important step in the strategic alignment of H&T which enables the Group to fully focus on its core competencies and strongest markets.
The sale includes the companies Westfalia Presstechnik GmbH & Co. KG (Crimmitschau, Germany) and Westfalia Metal Components s.r.o. (Hustopeče, Czech Republic). The transaction is expected to complete by mid-year.
The deal marks the 301st transaction of Clearwater International’s global automotive sector team.
„In challenging market circumstances, Clearwater International assisted us on our journey to find and execute a transaction with a strategic industrial partner for our Westfalia business. In our particular case, Clearwater managed to create a competitive bidder environment in a very short period of time. Their know-how of the automotive metal forming market, including international inroads to relevant strategic buyers has been very valuable.“ – Dietmar Schmitz, Managing Director Compliance, Heitkamp & Thumann Group
„It has been a great pleasure assisting Heitkamp & Thumann Group on the sale of their subsidiary Westfalia Metal Components. The successful completion of the transaction enables H&T to focus their resources on the development of the two main divisions H&T Battery Components and H&T Presspart. We strongly believe that Vollmann Group is an ideal strategic partner for the further growth of Westfalia and that the Group will in reverse benefit from Westfalia’s profound expertise and production capacities.“ – Tobias Schätzmüller, Managing Partner, Clearwater International