Lindsay Goldberg Vogel acquires VDM Group from ThyssenKrupp

ThyssenKrupp stated the transaction would see it take a €100m write-down on the loss-making asset. It also claimed the deal would achieve a positive effect in the region of €500m on net financial debt and pension obligations.

The sale reduces ThyssenKrupp's stake in volatile materials businesses as the firm restructures from a steel producer into a diversified industrial group.

VDM is said to have a restructuring strategy in place already, which will be supported by the group's new owner.

ThyssenKrupp employs 155,000 employees in around 80 countries, generating turnover of €41bn in the 2013-14 financial year.

Company
Headquartered in Werdohl, VDM is a metal alloy business. It offers customers in the chemical processing, oil and gas, and aerospace industries a full service from material selection to delivery. It employs 2,000 people worldwide.

The company can trace its roots back to the founding of Vereinigte Deutsche Metallwerke in 1932.

People
Dieter Vogel is chairman and founder of Lindsday Goldberg Vogel.

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• Unq2015May