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Norican announces acquisition of Light Metal Casting Solutions Group

11 April 2017 | Wheelabrator Group Ltd

Norican announces acquisition of Light Metal Casting Solutions Group

Taastrup, Denmark: Norican Global A/S ("Norican") the world''s leading metallic parts enhancement company (by virtue of its ownership of both DISA and Wheelabrator Group) is pleased to announce that the company has entered into a binding agreement with Auctus Fund III GmbH & Co. KG, and its fellow investors (collectively referred to as "Auctus") to purchase 100% of their shares in Light Metal Casting Solutions Group ("LMCS").

"Two years ago we formed a strategic partnership with Altor, a leading Scandinavian private equity firm, to explore ways in which to better serve our customers", says Robert E. Joyce Jr., President and CEO.

"Today we are very proud to announce the first public step in this journey. Through the acquisition of LMCS, and their world class product portfolio of aluminium parts formation products represented by StrikoWestofen, ItalPresse and Gauss, we are dramatically broadening the value we can deliver to our global customers. We welcome the professional and seasoned LMCS executives to the Norican team, and look forward to working with them in bringing our combined value to the market."

"Our original investment in Norican was largely driven by the quality of the team and the leading technology offering of Norican. Similarly, the superior technology of LMCS and the quality of the whole LMCS team makes them an ideal fit for Norican. We look forward to supporting the combined entity on its future journey", commented Søren Johansen, Partner at Altor Equity Partners.

Mr. Joyce concluded: "Our message to our customers remains the same: We continue to invest in your ongoing success by bringing to you the world's best, most innovative technical solutions. The addition of StrikoWestofen, ItalPresse and Gauss to the existing portfolio of DISA and Wheelabrator further improves our capability to serve you with whatever parts formation challenges you may have, wherever you may have them."
About Norican Group

Norican Group is the world's leading provider of technology and services for improving metallic parts. Currently the offer includes all forms of parts formation (horizontal, matchplate & vertical moulding) and surface preparation technologies (airblast, wheelblast and mass finishing). Its core branded technology platforms are DISA and Wheelabrator. The organization represents over 200 years of expertise and experience, and employs more than 2,200 people over 4 continents, with major operations in Canada, China, Czech Republic, Denmark, France, Germany, India, Poland, Switzerland, UK and USA. Norican Group works with the industry's leading representatives and business partners in serving its customers throughout the world.

Other Press Releases from Wheelabrator Group Ltd

19/6/2017 - American Axle boosts lifespan of wheel parts with EZEFIT upgrade Michigan-based foundry has seen a dramatic improvement in the lifespan of wear parts in its tumblast machines after fitting a Wheelabrator blast wheel.
19/6/2017 - Norican Group China celebrates 20th birthday Norican Group China will be marking its 20th year anniversary in June with a two-day event for current and potential clients to celebrate a joint journey of innovation and achievements over the past two decades.
16/6/2017 - Metelen gets seal of approval for safety at work The team (pictured) received the official certificate on Tuesday, 2 May, in Metelen, following an 18-month programme of implementing advanced safety procedures and ensuring that “safety thinking” becomes second nature across the whole Wheelabrator team.
16/6/2017 - EMP times three: equipment upgrade at Hay Speed These high standards also apply to the three batch-type tumblast machines currently operational at Hay Speed’s Lüchow plant in Lower Saxony. The three machines have been reliably cleaning forged parts (gear blanks, etc.) for the global automotive industry for some time - the oldest machine is 35 years old. The youngest of the trio, a Wheelabrator MB 700S was commissioned in 2014.
12/4/2017 - The most beautiful foundry in the world - and our proud part in it Sakthi Portugal’s SP21 foundry in Águeda opened its doors in February and we are proud to have played our humble part in this ambitious project, which has resulted in one of the most impressive foundry buildings in the world and a state-of-the-art facility with a total annual capacity of 80,000 tonnes.