Munich-based family business Serafin takes over WESO Aurora foundry
The Gladenbach iron foundry WESO-Aurorahütte belongs to a new owner. The Munich-based family business Serafin has taken over 100 percent of the shares of the Viessmann Group in Allendorf (Eder) – subject to the approval of the antitrust authorities. Both parties have agreed to keep the purchase price confidential.
WESO-Aurorahütte GmbH is one of the largest German foundries with more than 400 employees. The company from the Hessian Gladenbach specializes in the production of high-quality gray cast iron products, which are used internationally in demanding industries. Last year, the company celebrated its 130th anniversary.
WESO has been part of the Viessmann Group for several decades and has supplied these with castings for heating technology. The Viessmann Group will continue to be an important customer for WESO in the future. In addition, the foundry already works today for well-known industrial customers from various industries. WESO expects further growth potential from the Viessmann Group as well as its existing third-party customers. The focus will be on the further development and expansion of third-party business.
"The employees in Gladenbach have made a significant contribution to the successful development of WESO over many decades with their exemplary commitment. I expressly thank you for that. At the same time, I am pleased that the Aurorahütte continues to be in good, family-managed hands. We are firmly convinced that WESO is thus very well prepared for the future ", said Prof. Dr. Martin Viessmann, President of the Executive Board of the Viessmann Group.
Philipp Haindl, one of the founders of the Serafin group of companies and a representative of the shareholder family, emphasized that nothing is changing for the more than 400 employees of the Gladenbach foundry. The previous strategy of WESO as a customer foundry will be further developed. "We invest in well-established mid-sized companies that have a working business model and can be further developed through the use of operational and strategic measures."
Serafin is a diversified group of companies whose philosophy goes back to the 150-year entrepreneurial tradition of the family of shareholders. Following the guiding principle of "Responsibility by Tradition", Serafin invests in companies in order to further develop them in harmony with all stakeholders. The Munich Group, founded in 2010, now has eight companies - ranging from medium-sized toolmakers to producers of technical textiles to porcelain manufacturers with sales of between 20 and 130 million Euros. Over the entire group, Serafin generated sales of 500 million Euros last year.
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