FIELDS Group announces that it has sold all shares in Eurotech Group to MGG Group, a leading player in the field of high-quality and complex aluminium sand and low-pressure casting in Europe.
Eurotech Group is a manufacturer of complex, high precision aluminium castings and assemblies. With its 500 employees at three locations in Blerick (The Netherlands), T?eš? (Czech Republic) and Schwäbisch Gmünd (Germany), Eurotech serves clients throughout Europe in the medical, robotics, HVAC, and energy sectors. FIELDS Group acquired a majority stake in October 2013 and has since worked with management to further develop and improve the business of Eurotech. In this period revenues more than doubled to EUR73M and EBITDA more than quintupled.
Eric Lamkin, CEO of Eurotech Group, explains: “With FIELDS Group as partner, we have executed a successful buy-and-build strategy, optimized costs, improved the lay-out in three factories and attracted new customers in all sectors.”
René van der Velden, CEO of FIELDS Group: “It has been a very exciting period. I had the pleasure to work together with so many skilled people at Eurotech. Eric and his team have laid the foundation for further growth to come. I am convinced MGG is the right partner for Eurotech to reap the benefits of a consolidating industry.” The acquisition of Eurotech Group fits the expansion strategy within the aluminium casting industry of MGG and Parcom Capital, its majority shareholder since February 2017.
About FIELDS Group
FIELDS Group is a renowned industrial holding with offices in Amsterdam and Munich. Participating in and further developing companies with potential. That is what FIELDS stands for. With its in-house operational taskforce FIELDS Group is directly involved with the development of the group companies. FIELDS Group invests in industrial and services companies with headquarters in the Netherlands or Germany.
Contacts for press:
René van der Velden, FIELDS Group, [email protected]
Bart-Jan van den Boogaart, MGG, [email protected]