The transaction offers secure prospects and location guarantees for around 380 jobs in Schwerte. The transfer of the long-established North Rhine-Westphalian company takes place subject to various conditions and deadlines as well as the approval of the responsible authorities in the course of the first quarter of 2021. The seller and buyer have agreed not to disclose the purchase price and the economic framework.
"We are delighted that, after a challenging investor process, we have now found an ideal partner for Walter Hundhausen in the Beinbauer Group," says restructuring expert Dr. Dirk Andres from the AndresPartner law firm. The merger of the two companies is intended to create a new, integrated supplier that offers complex solutions from a single source. The newly created group will cover the entire value chain in its product fields, from casting through machining to coating.
Beinbauer himself is majority owned by H.I.G. Capital, a leading global investment company focused on medium-sized companies. As a financially strong partner, H.I.G. Capital is committed to the further development of the new group. According to the company's own information, significant investments in the double-digit millions are targeted at the site in the coming years.
"In addition to the entire Walter Hundhausen workforce, we would like to thank the Employment Agency as well as the representatives of the works council and IG Metall, who have given the process constructive support at all times in order to achieve a continuation solution for the long-established company," adds Andres.
"We would like to thank everyone involved and are relieved that in Beinbauer we have found an investor from the industry who knows Walter Hundhausen very well and wants to develop further," says Reinhard Pilk, Chairman of the Works Council at Walter Hundhausen GmbH.
The employees were informed about the transaction and how to proceed.