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.