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CASE Corporate Finance and ABN AMRO exclusively advised Voestalpine on the successful divestment of Flamco

July 4th, 2014

On 4 July 2014, voestalpine Group (“voestalpine”) announced its decision to sell all of its shares (100%) in the Flamco Holding B.V. and Flamco Stag Behälterbau GmbH (together “Flamco”) to the Dutch industrial group Aalberts Industries N.V. (“Aalberts Industries”). The transaction was closed in August 2014.

Flamco, headquartered in Bunschoten, the Netherlands, has been a subsidiary of voestalpine’s Metal Forming Division for over a decade and has production locations in the Netherlands, Germany, the United Kingdom and China and sales and distribution offices in several countries in (Eastern) Europe. Flamco manufactures expansion vessels and related accessories. These products are used in heating and cooling installations in the residential and (commercial) building markets. With almost 700 employees worldwide, most recently the company generated annual revenues of around EUR 125m. The decisive factor behind the divestment of Flamco was its increasingly strong divergence from core strategic business of the technology and capital goods group voestalpine. The combined business from Aalberts Industries and Flamco will be able to offer an even more comprehensive system portfolio to project developers, installers and wholesalers and benefit from growth opportunities in Europe.

CASE Corporate Finance / ABN AMRO acted as sole financial adviser to voestalpine, thereby leveraging its knowledge of the HVAC industry with its cross-border expertise. Furthermore, the deal marks another seamless and successful cooperation between CASE Corporate Finance and ABN AMRO.

About voestalpine

The voestalpine Group is a steel-based technology and capital goods group that operates worldwide. With around 500 Group companies and locations in more than 50 countries and on all five continents, the Group has been listed on the Vienna Stock Exchange since 1995. With its top-quality products, the Group is one of the leading partners to the automotive and consumer goods industries in Europe and to the oil and gas industries worldwide. The voestalpine Group is also the world market leader in turnout technology, special rails, tool steel, and special sections. In the business year 2013/14, the voestalpine Group reported revenue of EUR 11.2 billion and an operating result (EBITDA) of EUR 1.4 billion; it had around 48,100 employees worldwide.

About Aalberts Industries

Aalberts Industries, founded in 1975 and listed on the stock exchange since March 1987, is an internationally active specialist in industrial products, systems and processes with high-quality technical knowledge. The company develops solutions for diverse customer needs, divided into the group activities Industrial Services and Flow Control. In the business year 2013, Aalberts Industries reported revenue of EUR 2.0 billion and an operating result (EBITDA) of EUR 0.3 billion; it had around 12,300 employees worldwide.