Three months after holding its first close, the Buy_Out Central Europe II Beteiligungs-Invest AG has acquired a majority stake in German foundry Buderus Giesserei Wetzlar GmbH and Austrian foundry Tiroler Röhren-und Metallwerke AG.
The value of the transaction has not been disclosed. The companies will be incorporated as an Austrian holding. Additionally the acquisition also involves three distribution companies based in the Czech Republic, the United Arab Emirates and the US. Vendor Buderus Foundry Management S ar L will hold a 25.1% stake in the new group.