Clearwater International advises Goldschmidt Thermit Group on acquisition of PortaCo
Clearwater International acted as sole financial adviser to Goldschmidt Thermit Group on the acquisition of PortaCo, Inc. (Minnesota, USA).
PortaCo, Inc. has been a leading producer in the railway industry for more than 30 years. As a manufacturer of customised hydraulic power units and tools for a number of industries, PortaCo ideally complements the range of products and services offered by the Goldschmidt Thermit Group. Through the acquisition of PortaCo, Goldschmidt Thermit Group considerably strengthens its market position in the attractive US market for rail infrastructure.
The Goldschmidt Thermit Group, headquartered in Leipzig, Germany, is a worldwide leader in joint welding and the servicing and maintenance of rail systems. The roots of the company go back to the invention of the Thermit® process by Prof. Hans Goldschmidt at the end of the 19th century. Today the Goldschmidt Thermit Group consists of over 20 medium-sized individual companies, which serve the international growth market for rail infrastructure. The company has approximately 1,000 employees and achieved a consolidated turnover of more than €110m in 2012.