Astorg Partners
 
INVESTMENTS
 

Metalor
Metalor
  • Investment date : October 2009
  • Transaction size (Enterprise Value) : 100-300€m
  • Industry : Manufacturing
  • Activity : Precious metals refining, advanced materials
  • Previous Majority Shareholder : Private / Family
  • Status : In portfolio
  • Fund : Astorg IV
Metalor in short
Established in 1852, Metalor is a multinational industrial group, based in Switzerland (Neuchâtel), with subsidiaries in 16 countries. The group is organized around three divisions:

• Refining is specialized in recovering gold, silver, platinum group metals from a wide range of precious metal bearing materials. The division also provides analysis and evaluation services through its worldwide network of specialized centers, as well as financing precious metals work-in-progress items from its clients collecting secondary scrap materials.

• Advanced Coatings manufactures and supplies precious metal plating products and processes for electroplating applications. These products and solutions are used in a variety of applications such as electronic components, semiconductors, and decorative markets such as jewelry.

• Electrotechnics provides world’s leading groups with high-conductivity electrical contacts (circuit breakers, switches, relays, etc.) derived from silver alloys.

Metalor currently employs 1,600 people throughout the world and operates 10 production facilities in Switzerland, France, China, Hong-Kong, US, Porto Rico and Mexico.

The Metalor opportunity as seen by Astorg Partners
• A strong positioning, leader on almost all of its markets which are protected and growing niches

• Significant barriers to entry in terms of brand name, financial capability, precious metal management skills, manufacturing know-how and high-switching costs for customers

• Attractive platform for build-ups (numerous targets have been identified by the Management team and discussions have already started with several of these companies)

 Metalor
« We are very pleased to have our shareholder structure reinforced with Astorg Partner’s entry into our capital as a majority shareholder in a long-term perspective. This is a significant positive step in the acceleration of the growth of Metalor. Astorg Partners, which shares our vision, will help us further accelerate our acquisition strategy and meet our next challenge of growth in China. Metalor’s management team looks forward to working in close collaboration with Astorg Partners. »
Scott Morrison, CEO of Metalor

More information on Metalor
http://www.metalor.com

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