Aurelius has agreed to acquire GKN Wheels & Structures from GKN. No financial terms were disclosed. GKN Wheels & Structures is a manufacturer of off-highway wheels and an engineering solutions provider.
Munich/London, October 19, 2020 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8) today announces that it has agreed to acquire GKN Wheels & Structures from GKN. The transaction is expected to complete in November and is conditional on receiving anti-trust approval.
GKN Wheels & Structures is one of the world’s leading manufacturers of off-highway wheels and an innovative engineering solutions provider. The company employs c. 900 people worldwide with four manufacturing facilities in the UK, USA and Denmark in addition to test centres in Italy and the USA. In 2019, GKN Wheels & Structures generated global sales of over GBP170m, demonstrating the company’s eminent position as a market leading supplier to the global agricultural, construction, automotive, industrial and mining industries and many of the leading international original equipment manufacturers, distributors and integrators.
This transaction represents another example of AURELIUS’s specialisation in complex divestment processes from large corporates. In the coming months, AURELIUS will support GKN Wheels & Structures in executing its carve-out from GKN, ensuring continuity in the company’s day-to-day operations, to establish the business under a new brand name and as a standalone entity.
Going forward, AURELIUS will work with GKN Wheels & Structures’ existing management team to continue delivering the company’s business plan. AURELIUS will look to build on the business’ market-leading position by exploring the potential for further sector consolidation and leveraging its operational expertise to help optimise the company’s activities.
Matthias Täubl, Member of the Executive Board of AURELIUS, said: “This is an exciting acquisition for AURELIUS and provides us with a strong platform for future growth in the off-highway wheels manufacturing sector. We look forward to building on the good work of the GKN Wheels and Structures management team and working with them to ensure a smooth transition in the coming months.”
Dr Dirk Markus, CEO of AURELIUS Group, added: “This acquisition is another example of AURELIUS’s strength in acquiring non-core divisions of large corporates and successfully executing these complex transactions. As a global market leader with a strong and committed customer base, GKN Wheels & Structures is well-positioned for future growth under AURELIUS’s ownership.”
AURELIUS was advised by Rothschild & Co (financial), Goodwin Procter (legal) and KPMG (tax).
AURELIUS Group is a pan-European investment group with offices in Munich, London, Stockholm, Madrid and Amsterdam. Since it was founded in 2006, AURELIUS has grown from a local turnaround investor to an international multi-asset manager.
AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8, ticker symbol: AR4) is the listed entity within AURELIUS Group and focuses on investing in mid-market corporate carve-outs and platform build-ups in a broad range of industries. With a team of approximately 100 in-house operations experts, AURELIUS actively supports its portfolio companies in their long-term development. AURELIUS Equity Opportunities currently has 24 portfolio companies located across Europe which employ around 13,000 people and generate annual revenues of approx. EUR 3.0 billion. The shares of AURELIUS Equity Opportunities are traded on all German stock exchanges.
AURELIUS Group also operates in the areas of growth capital, real estate opportunities and debt. AURELIUS Growth Investments invests in leveraged buyouts usually in succession or corporate spin-off situations. AURELIUS Real Estate Opportunities focuses on real estate investments, the value of which can be increased in the long-term by means of active management. AURELIUS Finance Company is an alternative direct lender, focused on providing flexible debt solutions to small and mid-market firms across Europe.
With its group charity AURELIUS Refugee Initiative e.V., AURELIUS provides comprehensive support for refugees on their way towards a better life.
To find out more, visit www.aureliusinvest.de.
ABOUT GKN WHEELS & STRUCTURES
GKN Wheels and Structures is one of the world’s leading manufacturers of off highway wheels and an innovative engineering solutions provider. The company offers a full service from wheel design, manufacture and testing through to after sales support from its global team of commercial and engineering experts. GKN Wheels supplies the global agricultural, construction, automotive, industrial and mining industries and many of the leading international OEMs, distributors and integrators.
The company employs c. 900 people worldwide with four manufacturing facilities in the UK (Telford), USA (Armstrong and Estherville) and Denmark (Nagbol) and two test centres in Italy (Brescia) and the USA (Woodridge).