CIE Automotive acquires the Aludec Group

Spain-based CIE Automotive has announced the acquisition of 100% of the stock superior of Aludec, S.A.

The transaction worth (enterprise value) amounts to €200 million, which is equivalent to astir 5 times the EBITDA for the existent year.

The terms of the transaction volition beryllium paid by CIE Automotive successful currency astatine closing and volition beryllium financed done presently disposable cash.

With astir 1,300 employees and expected income of astir €160 cardinal successful 2025, Aludec has 10 manufacturing facilities successful 4 countries, including Spain, Portugal, Mexico and the US.

The institution is simply a full-service supplier of decorative components for the automotive industry, specialising successful the manufacture of integrative and metallic parts for some the interior and exterior of vehicles.

Jesús María Herrera, CEO of CIE Automotive, said: "The integration of Aludec means, successful the discourse of our diversification strategy, the instauration of a caller aesthetic components (branding) division. This transaction strengthens our presumption arsenic a notation supplier for customers, arsenic we tin connection this caller enactment of decorative products globally.

“In summation to its fantabulous strategical and commercialized positioning, Aludec has fantabulous profitability, a coagulated fiscal presumption and, supra all, a precise precocious level of currency generation, successful enactment with that of CIE Automotive.”

On behalf of Aludec, S.A., its president, Vicente Villamarín, expressed his “satisfaction astatine integrating the institution into a planetary group, which undoubtedly ensures maturation wrong the assemblage and allows the bequest of my father, laminitis of the institution successful 1984, to continue.”

"CIE Automotive acquires the Aludec Group" was primitively created and published by Just Auto, a GlobalData owned brand.

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