Linamar Corp. (“Linamar”), the Canadian manufacturer of precision components for drive technology has come to an agreement with the current owners of SEISSENSCHMIDT AG, Plettenberg, (“SEISSENSCHMIDT” or “Company”) regarding the acquisition of 100% of the share capital of the Company. SEISSENSCHMIDT’s outstanding hot forging expertise will substantially enhance Linamar’s production capabilities and manufacturing know-how. The acquisition hence represents an important milestone towards the implementation of a strategy focusing on innovation in manufacturing and advanced process technologies.
Herter & Co. advised SEISSENSCHMIDT AG on its debt capital structure prior to the acquisition as well as on potential financing options during the acquisition process. Closing of the transaction is planned for the beginning of 2015.
“We are extremely pleased with the result. Under the umbrella of Linamar Group, SEISSENSCHMIDT’s prospects for continued growth are excellent, particularly abroad. The support and advice we have received from Herter & Co. during the preparation and execution of the transaction was exceptionally professional. Whilst we had deliberated extensively on whether to work with a Debt Advisor, we are very glad to have retained Herter & Co.”, said Rüdiger Gross, CFO of SEISSENSCHMIDT AG.
Headquartered in Plettenberg, SEISSENSCHMIDT AG generates revenues of more than €240m and is one of the global market leaders for the development and manufacturing of precision components for drive and chassis technology.
Herter & Co. acted as Sole Financial Advisor to SEISSENSCHMIDT AG.