German-headquartered Mutares has announced the acquisition of Vallourec Bearing Tubes, the French company recently included in the divestment strategy of Vallourec Group.
“Headquartered in Montbard, Burgundy, in France, the company employs more than 200 people and generates revenues of approximately €50 million ($53.55m). Vallourec Bearing Tubes is a European manufacturer of seamless precision steel tubes produced to the most demanding standards. As the second-largest player in the European bearing tubes market, the company supplies its products to various industries such as bearings, mechanical and oil and gas,” Mutares explains in the note announcing the acquisition.
The unit will now be renamed VALTI.
“VALTI aims at enhancing its geographical coverage across Europe by taking advantage of the steel tube market upturn. With the support of Mutares’ operational consultants, the company’s management intends to strengthen its positions in the bearing industry focusing on contributive products, further develop its sales force and customer relationships,” Mutares says.
Mutares controls a number of companies globally, and is active in the automotive, engineering, mobility and services sectors, Kallanish notes.
Emanuele Norsa Italy