Serafin completes acquisition of WESO-Aurorahütte GmbH

Munich/Allendorf (Eder) April 4th, 2018 – The iron foundry WESO-Aurorahütte has a new owner. The Munich-based Serafin Group acquired 100% of the shares from Viessmann Group.

With more than 400 employees, WESO-Aurorahütte GmbH is one of the leading iron foundries in Germany and generates annual revenues in excess of EUR 60 million. The company from Hesse is specialized in the production of high quality grey cast iron products, which are distributed internationally to technologically advanced industries. As a part of Viessmann Group, WESO has supplied Viessmann with cast iron components for its heating technology division for the past decades. This longstanding relationship will be continued in the future with Viessmann remaining one of the most important customers of WESO. Moreover, WESO is already supplying other renowned industrial clients and intends to expand these relationships.

“The employees in Gladenbach with their dedication and commitment have significantly contributed to the successful development of WESO over the last decades. For this engagement I would like to explicitly thank you. At the same time, I am delighted that with Serafin, WESO continues to stay a family-owned business. We are very confident that this new owner, with its long-term focus, will lead WESO into the future in a positive way”, said Prof. Dr. Martin Viessmann, president of the executive board of Viessmann Group.

Philipp Haindl, one of the founding partners of Serafin and member of the shareholding family, emphasizes that the business will be continued in the tradition of the previous owner Viessmann. WESO will maintain its autonomy within Serafin allowing for the further strategic development as a customer-focused foundry. “We invest in established companies with a reliable business model that can be further improved by implementing operational and strategic measures.”

 

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