Livingstone has advised the owners of voestalpine Automotive Components Nagold, a company of the Metal Forming Division of the voestalpine Group, on the sale to Tempel Steel. The acquisition will be effective as of November 16, 2023, with all employees and existing technologies at the site being taken over by Temple Steel. Transaction terms were not disclosed.
voestalpine Automotive Components Nagold GmbH & Co. KG was acquired by the voestalpine Group in 2005 and currently employs around 130 people. Based in Germany, the company develops and produces stamped and formed parts for the automotive industry, such as radiator components, side member reinforcements, and other pressed parts and assemblies. The site also produces inline bonded stator and rotor stacks for electric motors.
To enable the sustainable and successful further development of the Nagold site, the voestalpine Group has decided to sell voestalpine Automotive Components Nagold after 18 years as part of the Group for purely strategic reasons. This also considers customer expectations regarding coverage of the entire technology portfolio in electrical steel processing, which is guaranteed by the buyer.
Accordingly, negotiations have been held with potential buyers for the Automotive Components plant in Nagold. In Tempel Steel (the electrical steel operations of Worthington Industries’ Steel Processing business), an ideal buyer was found for the Nagold plant to secure the site in the long term. For Tempel Steel, the acquisition represents a strategic expansion of the portfolio.
Jochen Hense, Partner at Livingstone, commented: ”We are optimistic that the ideal partner has been found. Teaming up with Tempel Steel offers a great long-term perspective for the employees, the management, and the customers of voestalpine Automotive Components Nagold.“
