Aurelius agrees to acquire GKN Wheels & Structures
Aurelis has agreed to acquire GKN Wheels & Structures, one of the world’s leading manufacturers of off-highway wheels and an innovative engineering solutions provider, from GKN.
The transaction is expected to complete in November and is conditional on receiving anti-trust approval.
GKN Wheels & Structures employs 900 people worldwide with four manufacturing facilities in the UK, USA and Denmark in addition to test centres in Italy and the USA.
In 2019, GKN Wheels & Structures generated global sales of over £170 million, demonstrating the company’s eminent position as a market leading supplier to the global agricultural, construction, automotive, industrial and mining industries and many of the leading international original equipment manufacturers, distributors and integrators.
This transaction represents another example of Aurelius’ specialisation in complex divestment processes from large corporates. In the coming months, Aurelius will support GKN Wheels & Structures in executing its carve-out from GKN, ensuring continuity in the company’s day-to-day operations, to establish the business under a new brand name and as a standalone entity.
Going forward, Aurelius will work with GKN Wheels & Structures’ existing management team to continue delivering the company’s business plan. Aurelius will look to build on the business’ market-leading position by exploring the potential for further sector consolidation and leveraging its operational expertise to help optimise the company’s activities.
Matthias Täubl, Member of the Executive Board of Aurelius, said: “This is an exciting acquisition for Aurelius and provides us with a strong platform for future growth in the off-highway wheels manufacturing sector. We look forward to building on the good work of the GKN Wheels and Structures management team and working with them to ensure a smooth transition in the coming months.”
Dr Dirk Markus, CEO of Aurelius Group, added: “This acquisition is another example of Aurelius’ strength in acquiring non-core divisions of large corporates and successfully executing these complex transactions. As a global market leader with a strong and committed customer base, GKN Wheels & Structures is well-positioned for future growth under Aurelius’ ownership.”