AURELIUS closes acquisition of GKN Wheels & Structures
Munich/London, November 26, 2020 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8) announces the completion of its acquisition of GKN Wheels & Structures from GKN.
GKN Wheels & Structures is one of the world’s leading manufacturers of off-highway wheels and an innovative engineering solutions provider. The company employs c. 900 people worldwide with four manufacturing facilities in the UK, USA and Denmark in addition to test centres in Italy and the USA. In 2019, GKN Wheels & Structures generated global sales of over GBP170m, demonstrating the company’s eminent position as a market leading supplier to the global agricultural, construction, automotive, industrial and mining industries and many of the leading international original equipment manufacturers, distributors and integrators.
The transaction demonstrates AURELIUS expertise in executing complex cross-border carve-outs from large corporates. GKN Wheels & Structures will provide a strong platform for future add-on acquisitions. In the coming months, AURELIUS will support GKN Wheels & Structures in executing its carve-out from GKN, ensuring continuity in the company’s day-to-day operations, to establish the business under a new brand name and as a standalone entity.
AURELIUS was advised by Rothschild & Co (financial), DLA Piper (legal), Goodwin Procter (legal) and KPMG (tax).