New die construction agreement
Schuler Pressen GmbH has reached an agreement with a strategic investor group based in Munich, Germany, regarding the takeover of its die construction activities in Göppingen and Weingarten, Germany. With effect from 28 February 2020, the investment companies Navigator Capital GmbH and Accursia Capital GmbH will take over Schuler’s former Body Panel business unit, including around 200 employees at both sites.
The new owner will operate the business unit as Cartec Tooling GmbH under the umbrella of the planned company Deutsche Werkzeugbau (DWB), which already owns the company Gebr. Rath Werkzeugbau in Kreuztal, Germany. The latter was acquired by the investor group from Linde+Wiemann in 2018. Cartec mainly specialises in the construction of dies for the production of car body panels and expands the product range of Gebr. Rath Werkzeugbau, which focuses on high-strength materials for the automotive industry.
Schuler’s CEO, Domenico Iacovelli, explained the move: “We have been searching hard for the best solution for our toolmakers. Irrespective of the acute problems that the market is now facing, these specialists will have a better opportunity to achieve sustainable growth as part of the future Deutsche Werkzeugbau Group. At the same time, Schuler Pressen GmbH will be able to focus more on its original core business of press construction and service. The well positioned part of our die construction business, which will remain within the Schuler Group, is to be pooled with our subsidiary AWEBA.”
The aim of the investor group is the long-term development and expansion of an international industrial business with a focus on manufacturing, stated Martin Scheiblegger, Partner and Managing Director of Accursia Capital. Die construction is an important part of this plan.
“In spite of the current crisis in the automotive sector, German manufacturers will enjoy excellent growth opportunities in the coming years due to their outstanding technical expertise and customer relationships. Schuler’s die construction unit and the people it employs are highly regarded in the market. We aim to build on this position and make a long-term investment in the unit,” explained Dr. Jochen Brinkmann, Managing Director of the Deutsche Werkzeugbau Group and of Navigator Capital.
Cartec Tooling GmbH and Gebr. Rath Werkzeugbau will remain legally independent companies. The parties have agreed not to disclose the purchase price.