On July 2, 2021, Hydro Extrusions signed an agreement to sell 100% of Hydro Precision Tubing Lichtervelde (HPTL) to Aurelius Group as part of the significant restructuring measures taken to support performance and cash generation in Hydro Extrusions. The sale is expected to close during the third quarter of 2021.
Hydro Precision Tubing Lichtervelde, a wholly-owned subsidiary of Hydro, was founded in 1949. It is specialized in the manufacturing of welded tubes for a variety of markets, including Industrial Products and HVAC, having a plant consisted of a cast house, cold rolling mill, and four tube lines, with 185 employees.
Aurelius Group is a pan-European investment group, focused on acquiring corporate carve-outs and companies with operational improvement and growth potential, with longstanding investment and management expertise in various industries.
Bruno D’hondt, Senior Vice President of Hydro Extrusions Europe, said: “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.”
Gilles van Kooten, Managing Director and Head of Benelux of the Aurelius Group, said: “Aurelius views HPTL as a leading player in the European market for welded aluminum tubes due to its vertical integration and circular capabilities. HPTL’s high-quality and reliable offering, strong commercial capabilities, customer relationships, and commitment to a low environmental footprint makes it a long-term and highly attractive investment. Aurelius looks forward to providing both financial and entrepreneurial support to the Business and establish it as a strong and independent company that is able to grow.”
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