Utrecht, 16 July 2021
Aalberts N.V. has reached a definitive agreement to acquire 100% of the shares of Premier Thermal Solutions LLC (PT), based in Lansing (Michigan, USA). PT operates nine locations across the industrial Midwest in Michigan, Wisconsin, Indiana and Ohio, generating an annual revenue of approximately USD 60 million with 250 FTE.
PT provides surface technologies and related services to achieve metallurgical specifications for its various industrial customers. As leading aluminium treatment provider in North America, PT is serving the light and heavy truck, electrical vehicles, agriculture, defense and aerospace end markets. For steel treatments, PT also offers ferritic nitrocarburising processes. PT invented NitroSteel®, a more durable and sustainable alternative to chrome plated steel products. This ferritic nitrocarburised steel bar is wear-resistant and corrosion-resistant, providing outstanding durability for cylinder rods.
PT is active in the industrial Midwest region of the USA, where Aalberts surface technologies already has core activities in the Northeast and Southeast region. The specialised technology portfolio is complementary to Aalberts surface technologies.
The combination of Aalberts’ surface technologies business with PT’s technologies and footprint creates a stronger business with significantly increased scale, a wider surface technologies offering to our customers, expanded geographical footprint and enhanced growth prospects throughout the North American market.
PT has a promising project funnel, mainly in the electrical vehicles, light and heavy truck, agriculture and industrial end markets. Critical NADCAP and OEM certifications allow Aalberts surface technologies to further penetrate the defense and aerospace markets in North America.
The experienced management team of PT, under the leadership of Steven Wyatt, will continue to develop the business, driving the many business opportunities.
The results of PT will be consolidated after finalising all necessary formalities. The acquisition will directly contribute to the earnings per share and will be financed from existing credit facilities.
Please visit premierthermal.com for additional information.
contact
+31 (0)30 3079 301 (from 8:00 am CEST)
investors@aalberts.com
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