01 December 2006
Growth injection for Union boring and milling
Nimbus is pleased to announce that it has acquired a controlling interest in Union Werkzeugmaschinen GmbH, one of the world’s leading manufacturers of industrial boring and milling machines. The acquisition involved a sizeable capital injection.
Union is based in Chemnitz, Germany, where it was founded in 1825. The company’s products are used to manufacture large industrial components for high-end pumps, moulds, ship engines and power plants. Union employs 150 professional staff, and generated a turnover in excess of EUR 25 million in 2006. The company serves an international clientele.
It is expected that the growth capital contributed by Nimbus will allow Union to leverage its unparalleled experience and expertise over the coming period. As a result of the transaction, Nimbus has acquired a majority stake in Union. The remaining shares are held by the workforce.
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