NK5, a leading player specialised in investing in firms facing financial and/or operating difficulties, announced the sale of Baux to Jupiter Aluminium Corporation. Baux is a Spain-based industrial group that produces hot-cold-rolled and lacquered aluminium products from 100% recycled materials.
Under the ownership of NK5, the Baux companies lifted their revenue to over €200 million in 2017. In 2018, it recorded a further improvement in earnings and became one of the top 5 players in its sector in Europe.
Baux went under the guardianship of NK5 in January 2017 after its intervention that started in July 2015, to save the group and restructure its finances as part of a plan designed to reinforce its financial structure and business management.
On adopting Baux, Juan José Nieto, executive chairman and founding partner of NK5, said, “This is a very important transaction. Very important for NK5 because it is the perfect example of what we want and know how to do; very important for Baux, which three years ago was on the verge of disappearing and is now an international leader with over 300 employees and promising growth prospects; and very important for Jupiter Aluminum because it is embarking, with a major leap, on its international expansion with a highly professional team and a company which is strongly and profitably positioned vis-a-vis its markets and customers. The ability to rely consistently on Banco Sabadell for its support has been the key to achieving our objectives”.
Jupiter Aluminium, headquartered in the US, is a group of dedicated people who every day recycles tonnes of aluminium scrap into coils destined to the building and construction, agricultural, automotive, and federal and distribution markets.
“At Jupiter, we focus our efforts on ensuring that all of the stakeholders in our business work together as a team to ensure success,” said Paul-Henri Chevalier, President of Jupiter Aluminium. “Our employees, clients, suppliers, and agents all form a crucial part in obtaining a well-run machine. We felt this equilibrium immediately when we visited the Baux plants in Segorbe and Elche de la Sierra”. Dietrich Gross added, “We believe that the company has the same philosophy and skill set as Jupiter and we are convinced that together we can continue to grow as a truly international business. In other words, Baux is a natural extension of Jupiter Aluminium”.
“This is our first international transaction, but we are very comfortable with Baux because it is exactly in the same sector as we are. We can also depend on an excellent relationship with NK5 and Banco Sabadell, our advisors, Livingstone Partners, and an outstanding management team”, concluded Mr. Chevalier.
Baux used the financial and legal advisory services of Sabadell Corporate Finance and Freshfields Bruckhaus Deringer, respectively, while Jupiter Aluminium used the services of Livingstone Partners and Quáter Abogados.
Responses
