Bharat Forge, the world’s second largest forging company, has acquired CDP Aluminiumtechnik GmbH & Co KG in an all-cash deal.
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The acquired company is located at Brand-Erbisdorf near Dresden, Germany and is a significant maker of aluminium forged components for passenger cars and other automotive applications. Through this acquisition, Bharat Forge will be able to tap CDP Aluminiumtechnik’s customer base – including BMW, Ford, Audi, and Volkswagen.
This acquisition also gives Bharat Forge another European centre. The company last year took over Carl Dan Peddinghaus GmbH & Co., one of Germany’s oldest forging companies, since renamed CDP Bharat Forge GmbH.
Bharat Forge paid INR370 million (€6.3 million) for the acquisition funded by equity of €3.8 million and non-recourse debt of €2.5 million. CDP AT is a profitable company with an annual turnover of €35 million and 130 employees.
Bharat Forge is aiming at a global manufacturing footprint in the future. While the company now has a modest presence in Europe, it is looking at acquisitions in US and China to build upon its presence in these markets.
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By GlobalDataDeepesh Rathore / Tilak Swarup
