Clairfield advises Norsk Hydro on sale of Precision Tubing Lichtervelde to Aurelius Group
Clairfield International is pleased to have acted as exclusive advisor to listed company Norsk Hydro (NHY.OL) on the sale of the Belgian Precision Tubing Lichtervelde to the German Aurelius Group.
Precision Tubing Lichtervelde (PTL), founded in 1949 and located in Lichtervelde (Belgium), is a specialized manufacturer of welded tubes for a variety of markets such as gardening, scaffolding and HVAC. The plant houses a cast house, a cold rolling mill, and four tube lines, and employs approximately 185 people. The company, formerly known as Remi Claeys Aluminium, was acquired by the Sapa Group in 2003 and became part of the listed Norsk Hydro in 2017. PTL supplies customers in more than 30 countries globally with main markets in Germany, France, Poland and United Kingdom. Tubes produced in Lichtervelde have a very low carbon footprint as recycled aluminium is used almost exclusively in the production process. The company has a long-standing reputation for superior quality and excellent service delivery, which is evidenced by 99% on-time deliveries and 15 years average client tenure. The global outlook for aluminium product demand is positive and the company is ideally positioned to benefit from the increase of automated production at its customers as well.
With this acquisition, Aurelius Group (ETR:AR4), a listed pan-European investment company based in Munich, plans to re-introduce the “Remi Claeys Aluminium” brand and expand the business under this historical banner.
“We are proud of the progress of the welded tubes operation since the integration in Sapa and subsequent full Hydro ownership. The business has been particularly resilient through last year’s crisis, continuing to grow and deliver world-class products to both existing and new customers. After careful review we have come to the conclusion that the welded tubes business is better suited to reach its full potential under new ownership. Aurelius with its dedication and focus on welded tubes is well-equipped to further grow the business,” says Bruno D’hondt, senior vice president of Hydro Extrusions Europe.
Clairfield International acted as the financial advisor to Norsk Hydro Group.
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