Company
Rautaruukki Oyj
Summary
Rautaruukki Oyj (Finland), dba Ruukki, supplies metal-based components, systems and integrated systems to the construction and mechanical engineering industries. Ruukki has operations in 24 countries, employs 14,600 people and reported net sales of EUR 3.9 billion in 2007. Ruukki's share is quoted on the OMX Nordic Exchange in Helsinki, Finland.
Pursuant to Ruukki Metal’s strategy of focusing on special products in the Central and Southern European markets, Ruukki has sold its German subsidiary Carl Froh GmbH, a producer of precision tubes and automotive components with annual sales of approximately EUR 58 million and 200 employees. Carl Froh was considered non-core to Ruukki’s business and sourced almost all of its raw material from outside steel suppliers.
Fredericks Michael & Co. (FM&Co.) acted as Ruukki’s exclusive financial advisor with respect to the sale of Carl Froh GmbH including identifying and approaching potential buyers, managing due diligence and advising on valuation, structuring and negotiations through closing.
After a thorough search for potential new owners, FM&Co. approached on behalf of Ruukki a number of selected industry competitors and Private Equity firms in Europe, the USA, South America, and Asia and managed a competitive auction process.
The new owner ARQUES Industries AG is a German investment company listed on the Frankfurt Stock Exchange with annualized revenues of approximately EUR 4.7 billion.
