Gilde and Parcom sell Nedschroef to PMC for €325m

The two businesses will have a combined turnover of almost €1bn, €600m of which is generated from engineered fasteners.

PMC is 49.6% owned by Shanghai Electric Group Corporation and is listed on the Hong Kong Stock Exchange. Shanghai Electric employs 11,000 staff and generated revenues of €11bn last year, while Shanghai-headquartered PMC recorded around €400m in turnover in 2013.

Nedschroef's current management team will remain in place and no staffing cuts are currently planned.

Gilde and Parcom acquired the business in May 2007 in a take-private transaction that saw Nedschroef delist from the Amsterdam Exchange after 20 years as a public company.

The business was taken private by newly created holding company Nedfast Holding, which was 55% owned by Gilde, 30% by Parcom and the remaining 15% by Nedschroef's senior management.

According to unquote" data, Gilde invested via its €600m Gilde Buyout Fund III. A total of 4.4 million shares were acquired by the holding company at a price of €59 apiece, giving the company a value thought to be in the region of €270m.

Under the duo's ownership, the company has established its Nedschroef Brasov trading operations in Romania as well as Nedschroef Fasteners Poland. The company also sold its South African division in 2009.

Company
With roots dating back to 1894, Nedschroef produces cold- or hot-forged threaded fasteners and additional complementary products for original equipment manufacturers in the automotive and aerospace industries.

Nedschroef's headquarters will remain in Helmond following the transaction. The company employs 1,500 staff and generated turnover of €500m in 2013.

People
Mathias Hüttenrauch is the CEO of Nedschroef.

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