Deal Announcement 01/14: Automotive
PwC M&A acted as the exclusive M&A advisor to the insolvency administrator Dr. Franz-Ludwig Danko on the sale of DGH-Group
The Deal
On January 1st 2014, a consortium consisting of Oak Hill Advisors, L.P and OHorizons Global, Inc acquired the assets of Druckguss Heidenau, Druckguss Hof and ZIT. Back in May 2013, the assets of Druckguss Hoym have already been sold to CMP Capital Management-Partners. The German PwC M&A team acted as the exclusive M&A advisor to the insolvency administrator Dr. Franz-Ludwig (law firm Kübler) on the sale of DGH-Group.
Using our extensive industry know-how and direct access to decision makers in the industry, we were able to execute an international sales process approaching all relevant investors from China, India, Israel and the United States. In a difficult market environment, the transaction has secured a sustainable investor solution for DGH-Group.
DGH-Group
DGH Group manufactures complex medium to large aluminium and magnesium die-casting components for the automotive industry. The company covers the entire value chain, which includes the development and manufacturing of casting tools, the die-casting and the machining as well as the assembling of complex power train components. When DGH Group filed insolvency, the Company generated revenues of more than €130mn and had a workforce of more than 1,000 employees.
Oak Hill Advisors, L.P. and OHorizons Global, Inc
Oak Hill Advisors, L.P., an investment firm with more than $20bn under management, is focused on turnaround situations, non-performing loans as well as structured debt instruments and mainly operates in North America and Europe.
OHorizons Global, Inc, an investment and management advisory firm, provides strategic, operative and transaction-related services to investment firms, multi-nationals, government groups and privately-held companies.
CMP Capital Management-Partners
CMP Capital Management-Partners, founded in 2000, is a private equity fund focusing on distressed companies in Germany, Austria and Switzerland. With pressmetall Gunzenhausen, CMP is already invested in another die casting company.
PwC
The German PwC M&A team acted as the exclusive M&A advisor to the insolvency administrator Dr. Franz-Ludwig Danko (law firm Kübler).
PwC employs nearly 1.000 M&A professionals all over the world, advising approximately 300 successful transactions per year. We provide a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatizations as well as structured financing.
The M&A Team consisted of Martin Schwarzer (Partner), Alexander Knögel (Senior Manager), Hanns-Michael Arenz (Manager) and Nicolas Kreuziger (Senior Consultant).
