Facebook - Shropshire Business Twitter - Shropshire Business LinkedIn - Shropshire Business
https://yarrington.co.uk https://www.njwealthplanning.co.uk

Takeover deal agreed for wheels manufacturer

GKN Wheels and Structures, which has its UK manufacturing headquarters in Telford, is at the centre of a big-money takeover.

Aurelius Equity Opportunities has agreed to acquire the company in a deal which is expected to be rubber stamped by trustees in November. The value of the deal has not been disclosed.

GKN Wheels and Structures is one of the world’s leading manufacturers of off-highway wheels and an innovative engineering solutions provider. It employs close to 1,000 people worldwide with manufacturing facilities in the UK, USA and Denmark, and test centres in Italy and the USA. The company’s UK site is at Hadley Park in Telford.

In 2019, GKN Wheels & Structures generated global sales of over £170 million, which bosses say demonstrates the company’s ‘eminent position as a market leading supplier to the global agricultural, construction, automotive, industrial and mining industries’ and leading international original equipment manufacturers, distributors and integrators.

Aurelius says it will support GKN Wheels & Structures in 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.

Matthias Täubl, a 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, chief executive of Aurelius Group, said: “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 Group is a pan-European investment group with offices in Munich, London, Stockholm, Madrid and Amsterdam. Since it was founded in 2006, it has grown from a local turnaround investor to an international multi-asset manager.

https://www.birminghambiz.co.uk

Work begins on new training centre

Automotive engineering students will have new facilities

10th July 2020

Golden career opportunity for Sam

Engineering student is promised subsidised studies and full-time job

17th June 2021

Businesses adapt to life under lockdown

Experts say some clients have discovered new opportunities

30th April 2020

Battery and energy storage specialists make shortlist

Public support helps firm secure finals place

10th June 2021

Temp agency hits the ground running

Specialists become primary partner to logistics firm

5th March 2021

Technical courses launched for furloughed staff

Apprentices and employees have chance to learn new skills

7th August 2020

Businesses urged to utilise tech

Technology and software will help firms stay financially sound

25th February 2021

Colleges group backs Kickstart scheme

Local employers offered flexible support

2nd February 2021

Call for employers to take on apprentices

College urges firms to take up funding opportunities

23rd July 2020

Finance is key to smooth transition

Businesses urged to make sure their finances are in best possible shape

15th May 2020

International trade specialist offers support

Practical advice available on future global trading

17th September 2020

Mark Savill

Director, My Simple Mortgage Limited

5th November 2020

Network Telecom wins two industry awards

Success follows record breaking sales year

16th December 2020

Youngsters get to kick start their career

Gateway organisation will help boost job opportunities

29th January 2021

Marches LEP praised for skills work

New report sets out ambitious blueprint for the future

14th June 2021