Lindsay Goldberg completes sale of VDM Metals to Acerinox
Lindsay Goldberg, a private investment firm that focuses on partnering with families, founders and management teams seeking to actively build their businesses, has completed its sale of VDM Metals (VDM) to Acerinox for EUR532 million.
Headquartered in Werdohl, Germany, VDM is the largest producer of high-performance nickel alloys globally serving a diverse array of end markets, including chemicals and processing, aerospace, engineering, automotive, oil and gas and industrials.
Since Lindsay Goldberg’s initial investment in VDM in July 2015, the Company achieved significant operational improvements resulting in VDM’s transformation into a pure-play producer of nickel-based alloys and one of the few global players offering a full range of high-performance alloy products. Notable achievements under Lindsay Goldberg’s stewardship include attracting and retaining a deeply experienced management team, materially strengthening the company’s balance sheet, investing in new production lines, bolstering its sales organisation and R&D capabilities, further expanding into new international markets, and exiting non-core business divisions.
Michael Dees, Partner at Lindsay Goldberg, says: “We are pleased with the outcome of this transaction for our investors, our partners and the dedicated management team and employees of VDM. Our investment in VDM is demonstrative of the value Lindsay Goldberg creates for our portfolio companies through deep industry expertise and our global network of highly skilled affiliate partners. We are confident that VDM is well-positioned to execute on its growth objectives under the ownership of Acerinox.”
Lindsay Goldberg’s investment in VDM represents its commitment to and successful history in investing in German-speaking Europe with its long-standing partnership with Dieter Vogel, Thomas Ludwig and Thomas Unger and the broader Lindsay Goldberg German affiliate partner team. This investment also builds on Lindsay Goldberg’s experience in the metals and materials space. Other relevant Lindsay Goldberg investments include Klöckner & Co, a leading worldwide distributor of a wide variety of steel, aluminum and non-weighted metal products, and Stelco, a fully integrated steel manufacturer.