Clearwater International Germany advises BENTELER GROUP on the cross-border sale of BENTELER Automotive Farsund to US-based Chassix
Clearwater International Germany has advised BENTELER GROUP (BENTELER) on the sale of the BENTELER Automotive plant in Farsund, Norway, to US-based Chassix Inc. (Chassix).
BENTELER is a leading global company that develops, produces and sells products, systems and services for the automotive, energy and engineering sectors. BENTELER is a family-owned firm now in the fourth generation. Its 30,000 employees at 153 locations in 40 countries are passionate about excellence in manufacturing and distribution - in close proximity and collaboration with their customers. Sales in 2016 amounted to €7.4bn. The three business divisions BENTELER Automotive, BENTELER Steel/Tube and BENTELER Distribution are organised under the strategic management holding company BENTELER International AG in Salzburg, Austria.
BENTELER and Chassix signed a contractual agreement to transfer ownership of the BENTELER Automotive plant in Farsund. With this divestment, BENTELER intends to focus on its core business. The decision to look for a new owner for the Farsund plant was the result of an in-depth analysis of the business portfolio. BENTELER will continue to develop lightweight solutions to keep up with current demand in the automotive industry. By doing so, BENTELER will leverage its in-house competence in steel and aluminum processing based on 141 years of experience.
BENTELER Automotive Farsund is a modern highly automated aluminum foundry, designing and producing lightweight aluminum structural castings. The company has approximately 275 employees, producing safety-critical parts such as sub frames, swing arms, steering knuckles and rear hubs for highly renowned car manufacturers in the premium segment.
Chassix is a leading vertically integrated, global automotive supplier. The business offers engineering and manufacturing solutions for high-quality, precision chassis and driveline aluminum and iron safety-critical components. Chassix has 4,500 employees across 23 locations in 7 countries and generated sales of €1.2bn in 2016.
With its broad customer and product portfolio, Chassix plans to accelerate growth with strategic customers in the future, strengthening its global production footprint in Europe.
The sales agreement was signed on 26 October 2017. An approval by the anti-trust authority is not required. However, certain customary closing conditions still need to be fulfilled before the transfer can be effected.
This transaction is the result of a competitive, global sales process led by Clearwater International and represents the 255th deal of our global automotive sector team.