Private Assets acquired the company, located in Abadiño near Bilbao, out of insolvency in July 2023 and subsequently restructured it successfully. Alongside the introduction of a rigorous cost management system, significant investments were made in operational organisation and technology. By reorganising and expanding its sales function, the company achieved a substantial increase in incoming orders. In addition, the site took over production formerly handled by the Procast Guss facility in Bad Saulgau, which had ceased operations earlier. The parties have agreed not to disclose the purchase price.
“The successful repositioning of Procast España demonstrates how crucial it is to involve all stakeholders in such a process,” said Private Assets Director Florian Feddeck. “Thanks to the close cooperation with customers and suppliers, and the strong commitment of the workforce, we were able to comprehensively realign Procast España over the past two years.”
“Procast España is a company with a rich tradition and strong potential,” said Antonio Vallespi. “I am pleased that Private Assets and everyone involved succeeded in transferring orders from future-facing industries, thus laying the foundation for sustainable growth. We will continue the successful work and pursue the chosen path with consistency.”
About Procast
Procast is one of Germany’s leading contract foundries. As a full-range provider, Procast offers its customers comprehensive services including design, engineering, casting, machining, coating and assembly of iron cast components. Both standardised and innovative iron casting materials are used. Procast serves customers in the machinery, commercial vehicle and tooling industries.
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