Spain-based CIE Automotive has announced the acquisition of 100% of the share capital of Aludec, S.A.
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The transaction value (enterprise value) amounts to €200 million, which is equivalent to approximately 5 times the EBITDA for the current year.
The price of the transaction will be paid by CIE Automotive in cash at closing and will be financed through currently available cash.
With around 1,300 employees and expected sales of approximately €160 million in 2025, Aludec has ten manufacturing facilities in four countries, including Spain, Portugal, Mexico and the US.
The company is a full-service supplier of decorative components for the automotive industry, specialising in the manufacture of plastic and metal parts for both the interior and exterior of vehicles.
Jesús María Herrera, CEO of CIE Automotive, said: “The integration of Aludec means, in the context of our diversification strategy, the creation of a new aesthetic components (branding) division. This transaction strengthens our position as a reference supplier for customers, as we can offer this new line of decorative products globally.
“In addition to its excellent strategic and commercial positioning, Aludec has excellent profitability, a solid financial position and, above all, a very high level of cash generation, in line with that of CIE Automotive.”
On behalf of Aludec, S.A., its president, Vicente Villamarín, expressed his “satisfaction at integrating the company into a global group, which undoubtedly ensures growth within the sector and allows the legacy of my father, founder of the company in 1984, to continue.”
