# Hannover Finanz acquires Presswerk Krefeld from MacLean, forms PWK Automotive

Hannover Finanz, together with management, acquired Presswerk Krefeld from US company MacLean Company. The buy-out creates independent group PWK Automotive with about 900 employees and annual sales of around EUR 160 million.

- Type: Acquisition
- Announced: 2017-01-23
- Where: Krefeld, Germany, Germany
- Jobs: 900
- Status: completed
- Products: cold-formed and hot-formed steel and aluminum components, machined parts for brakes, shock absorbers, steering, compressors, chassis
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [MacLean-Fogg](https://endata.com/companies/5088.md)
- [Hannover Finanz](https://endata.com/companies/21664.md) (acquirer)
- [Presswerk Krefeld](https://endata.com/companies/21665.md) (target)
- [MacLean Company](https://endata.com/companies/21666.md) (partner)

## Sources

- [boersen-zeitung.de](https://www.boersen-zeitung.de/unternehmen-branchen/hannover-finanz-formt-autozulieferergruppe), 2017-01-23: "Mit dem Buy-out wird daraus die eigenständige Unternehmensgruppe PWK Automotive mit etwa 900 Beschäftigten und einem Jahresumsatz von rund 160 Mill. Euro."
- [bdapartners.com](https://www.bdapartners.com/transaction/bda-advises-maclean-fogg-on-sale-of-presswerk-krefeld-pwk-to-hannover-finanz/), 2017-01-27: "BDA Partners is pleased to announce that its client, MacLean-Fogg Company, a group of global enterprises with customers in the automotive and power sectors, has agreed to sell 100% of its shareholding in Presswerk Krefeld to HANNOVER Finanz Group and PWK management."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.