HÖRMANN Industries GmbH (corporate bond, German Securities Code Number (WKN): A2AAZG) has signed an agreement with the MAT Maschinen- und Automationstechnik GmbH Group, Salzgitter, on the acquisition of its three operating subsidiaries MAT Maschinentechnik GmbH, MAT Automationstechnik GmbH and MAT Industrieservice GmbH. The agreement involves the HÖRMANN Group integrating the three companies into the Services segment as separate companies as well as around 130 employees at the Salzgitter site, most of them highly qualified engineers and technicians. The agreement will come into effect subject to individual conditions including anti-trust approval.
The three operating companies of the MAT group are established providers of industrial services, covering mechanical engineering, automation and electrical engineering, as well as steelwork and metal construction. Customers include companies from the automotive and supply industries, as well as leading plant and machinery manufacturers. Consolidated sales reached approximately EUR 13 million in the 2016 financial year. The acquisition significantly broadens the range of services offered by HÖRMANN Industries, which will help the company to reach more customers and improve market penetration. There is also potential for synergies within the Group.
The three operating subsidiaries of the MAT group make an ideal complement to the new Services division and will have an important part to play in making the most of the potential for growth arising from technological megatrends such as Industry 4.0, digitalisation and electric vehicles. The goal in this division is to become the preferred technical service provider in the high-growth segments of industrial services and public services and, in the medium term, to account for a significant proportion of HÖRMANN Group consolidated sales.
The strategically important transaction will not result in any change to HÖRMANN Industries GmbH’s earnings forecast for the 2017 financial year. Financing will come from the company’s cash flow. The management of HÖRMANN Industries is expecting the transaction to take place in November 2017.