Parcom Capital-backed Dutch aluminium castings developer MGG Group has announced the acquisition of Eurotech Benelux.
The acquisition is said to bring MGG's consolidated revenue to around €250m. At the time of Parcom's investment in early 2017, revenues were approximately €100m.
Netherlands-based GP Parcom acquired a majority stake in MGG in Q1 2017. The company's management team also invested alongside Parcom as part of the deal. The GP bought its stake from Limburg Development and Investment Company (LIOF), the private equity arm of the Dutch province of Limburg, as majority owner in the group. LIOF had been a part-owner of MGG since 2010.
MGG specialises in aluminium sand-casting – a metal casting process characterised by using sand as the mould material. MGG was established in the early 1950s and is based in Telegen.
Eurotech designs and manufactures engineered products including steel castings, forgings, various steel fabrications, bollards and marine fenders. It targets the marine, civil engineering, lifting, dredging and offshore industries. Founded in the late 1990s, the company is headquartered in Eersel.
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