Tower Automotive sold its subsidiary Tower Hydroforming (Chemnitz) to hde solutions (Menden) for an undisclosed amount - exclusively advised by Acxit
Chemnitz based Tower Hydroforming is one of the leading independent suppliers of formed metals based on Hydroforming production technology. The company’s competence in Hydroforming technology is rounded off by the use of up-and downstream production processes like ends cutting, bending, washing and annealing. With this divestiture Tower Automotive continues its strategy to focus on its core businesses, supplying body structures, lower vehicle structures, suspension components and modules to nearly every major automotive manufacturer in the world.
hde Solutions is one of Europe's leading suppliers of formed metals and stands for nearly 200 years of experience in the metal processing sector. The company has evolved from being a prominent manufacturer of semi-finished product in the mid-19th century to an innovation leader in today's world of Hydroforming.
Acxit Capital Management acted as exclusive financial advisor to Tower Automotive in this divestment, which closed in October 2005.