Amtek acquires Zelter GmbH

Clearwater Advisor

Birmingham corporate finance advisers, Clearwater International have played a key role in ensuring Amtek Auto Limited – a leading Indian-based automotive component manufacturer with operations in India, USA and Europe – strengthens its position within mainland Europe with the acquisition of one of the leading German auto machining companies – Zelter Gmbh.

This latest acquisition is a further move to bolster the Amtek Group’s manufacturing presence outside of India and will increase their global sales revenues to circa $700 million.

Zelter Zmbh is a specialist turbo charger machining company with revenues of excess of E100 million and was acquired for an undisclosed sum.

Amtek Group has already acquired three UK companies including Midlands-based LBH, Sigmacast and GWK, together with significant acquisitions in the USA. Zelter Gmbh, based near Frankfurt was founded in 1923 and is recognised as a full service supplier for the automotive industry. With more than 400 employees it has two major factories in Germany.

“The group continues to grow and prosper as a global automotive component manufacturer and we are looking forward to welcoming the Zelter management team into the Amtek Group.”

Arvind Dham, Group Chairman, Amtek

“This deal is yet another example of the growing number of major players in low-cost countries developing a strategy for Europe and America. It is also another example of the power of our international network and its ability to advise major corporate groups on cross-border transactions.”

Phil Burns, Partner, Clearwater International