The Hay Group Announces the Acquisitions of Metaco Union and Forjanor, automotive suppliers
The Hay Group, a portfolio company of The Gores Group, announced today that it is expanding its footprint with two new acquisitions: Metaco Union and Forjanor.
On June 30, 2014, Hay acquired and simultaneously closed Metaco Union, a Hungarian automotive machining business located in Füzesabony specializing in precision-?turned and milled parts for major European OEMs. This acquisition provides a cost-?competitive specialist manufacturing location for Hay, and further increases Hays flexibility and global footprint given growth expectations for light vehicle production in Central/Eastern Europe.
More recently, Hay entered into an agreement with Gerdau to acquire Forjanor (closing on September 30, 2014), a Spanish supplier of gearbox, transmission and bearing parts to predominantly European automotive OEMs from its location in Collado Villalba, Madrid. This acquisition provides new customer relationships for The Hay Group, an increased international footprint, and key additional competencies in cold forging.
Metaco Union and Forjanor will be key contributors to The Hay Groups ability to meet the demands and requirements of its customers, and provide strategic growth opportunities.
Further to the integration of Metallumform in October 2013 and the opening of Tianjin Hay Forging (China) in October 2014, The Hay Group is now well positioned to follow its customers in the globalization of their production footprint into Asia and North America.