Jupiter Aluminum Corporation, a U.S. aluminum rolling mill operator, acquired Spain-based flat rolled aluminum producer Grupo Valenciana de Aluminio Baux, including its subsidiaries Bancolor Baux SLU and Compañía Valenciana de Aluminio Baux SLU. Terms of the deal were not disclosed.
Founded in 1992 and based in Hammond, Indiana, Jupiter Aluminum, recycles aluminum scrap and rolls it into coils used in the building products, agricultural, automotive, and distribution markets. In addition to installing emission-control systems in each furnace used to melt scrap, Jupiter developed its own oxyfuel technology to further reduce its emissions, bringing the company’s operating and environmental efficiencies to best-in-class industry standards.
Baux, headquartered in Paterna, Spain, is one of Europe’s top five recycling, rolling, and coil manufacturers in the aluminum flat-rolled products industry. The company delivers premium-quality products in highly competitive timeframes to customers in 12 countries on three continents. With a workforce of 330 people in four locations, Baux generates an annual revenue in excess of $141 million.
The strong strategic fit between the two companies includes complementary equipment, end-markets, and dedication to customer service. The acquisition advances Jupiter’s international growth initiatives, pushing into new markets with value-added capabilities, products, and expertise.
Jupiter Aluminum was assisted through the acquisition process by Livingstone, which acted as exclusive financial advisor. “The Livingstone team did a great job. They guided us through a challenging process combining the raising of two credit facilities in different jurisdictions while leading a competitive acquisition process that successfully took us to the finish line,” said Paul-Henri Chevalier, president of Jupiter Aluminum. “Their knowledge, organizational skills, and global reach allowed us to pull the deal off in a limited timeframe.”
Michael Jenny, managing director of Livingstone Chicago, added, “We were pleased to work with the Jupiter team on such a transformative cross-border transaction. The Baux acquisition substantially increases the combined companies’ depth and breadth in multiple markets while at the same time positioning Jupiter for additional future growth.”