The overall transaction perimeter employs a total of around 1,100 workers and has recorded in 2017 a turnover of around EUR 540 million and an EBITDA of around EUR 15 million. The agreed price consideration for the transaction is EUR 119 million plus Working Capital and reimbursement of intercompany payables outstanding at closing. The closing of the transaction is subject to conditions precedent and is expected to be executed within the first quarter 2019.
ACXIT Capital Partners acted as Exclusive Financial Advisor to KME and the selling shareholders.
About KME Group
KME Group is one of the world’s largest manufacturers of copper and copper alloy products with 15 production plants in Germany, France, Italy, Spain, China and the USA. With 338,000 tons in sales (at 31.12.2018) and 3,900 employees worldwide, the strategic objective of KME Group is to refocus its portfolio on copper and copper alloy rolled products and special products.
After the acquisition of MKM, which agreement has been signed on the 6th of July 2018 and the relevant closing is expected to be executed within the first quarter 2019, the present transaction with Hailiang pursues the reduction of portfolio and industrial complexity of KME Group, by decreasing the number of products and plants. This transaction attains the acceleration of the Group strategy execution.
About Zhejiang Hailiang Co.Ltd
Zhejiang Hailiang Co.,Ltd (“Hailiang”) is a leading Chinese player in the copper alloy semi-finished product industry with international production plants and sales offices in China, Southeast Asia and US, Middle East etc., but no presence in Europe until now. Zhejiang Hailiang is listed on the Shenzhen Stock Exchange.
About ACXIT
ACXIT Capital Partners is a leading independent corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. Since 1998, ACXIT offers its clients comprehensive corporate finance advisory services including M&A and capital markets advisory as well as restructuring, equity/debt and strategic advisory. As an independent, privately owned firm we maintain offices in Frankfurt, Berlin, Munich, Leipzig and Zurich, representatives in Hong Kong and the US as well as strong alliances in France, China and India. (www.acxit.com)
PRESS CONTACT
ACXIT Capital Holding GmbH
WestendDuo
Bockenheimer Landstraße 24
60323 Frankfurt am Main
Germany
www.acxit.com
facebook.com/acxitcapital
twitter.com/acxitcapital
xing.com/companies/acxitcapitalpartners
linkedin.com/company/acxit-capital-partners
Dr. Hartmut Vennen
Senior Managing Director, Strategic Communications
FTI Consulting
Park Tower | Bockenheimer Anlage 44
60322 Frankfurt am Main
Phone: +49 69 92037 137
Mobile: +49 160 895 5858
E-mail: hartmut.vennen@fticonsulting.com
TRANSACTION TEAM
Jens Tschauder, Managing Partner
Liting Kong, Head of China Desk
Christian Stippler, Executive Director
Christian Enderichs, Associate
