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Engineered Materials Solutions has signed a letter of intent to be acquired by Wickeder Westfalenstahl GmbH, Wickede an der Ruhr, Germany. The acquisition is expected to be completed by the end of August. EMS will operate as a subsidiary of Wickeder, continuing current business plans and strategies with the same management and staff under the new ownership. EMS and Wickeder are both pioneers in the production of clad metals by cold roll bonding.
“We are very pleased to have Engineered Materials Solutions join the Wickeder corporate family,” said Dr. Jürgen Platt, CEO and president of Wickeder. “We have known and respected each other in business and in technology for many years. Now we have the opportunity to learn directly from each other and leverage each company’s strengths in clad metals,” he continued. “Furthermore, our manufacturing facilities on three continents will give us the ability to better serve our customers worldwide.”
“We believe the acquisition works to the advantage of our company and our customers alike,” commented Eric Olson, CEO and president of EMS. “ It will provide us with enhanced production capabilities and technical competencies. In turn, we will focus these new tools on further expanding our ability to provide innovative solutions to meet our customers’ needs,” he said. “In addition, the management team and I are very excited to be part of a larger global entity that substantially improves our flexibility as we continue to focus on growth.”
Wickeder and EMS have grown in parallel for almost 100 years. Wickeder was founded by Bernhard Bauer on October 25, 1913, under the name Wickeder Eisen- und Stahlwerk GmbH, Praezisionszieherei und Kaltwalzwerk. On April 24, 1916, Rathbun Willard founded General Plate Company, which evolved into the clad metals business of Texas Instruments, then became Engineered Materials Solutions when acquired by Blue Point Capital Partners in 2000. Wickeder will purchase EMS from Blue Point Capital Partners, a mid-market private equity firm based in Cleveland, Ohio.
For more information on Wickeder or Blue Point Capital, please visit their websites: www.wickeder.de; www.bluepointcapital.com.