Indiana’s aluminium milling firm Jupiter Aluminum Corporation sealed the purchase of Spanish hot- and cold-rolled aluminium company Grupo Valenciana de Aluminio Baux (Baux) earlier this week, purchasing the firm from Spanish corporate restructuring and management specialist NK5. Terms of the deal were not disclosed by any of the parties involved. Among Europe’s top-tier aluminium smelting, rolling, and coil manufacturers, Baux entered the NK5 fold almost two years ago after suffering from poor bottom-line performance and incurring substantial debt.
Jupiter enlisted the aid of Livingstone Partners and Quáter Abogados in arranging and finalizing the financial and legal aspects of sale, while Sabadell Corporate Finance and Freshfields Bruckhaus Deringer advised NK5 throughout the transaction.
Boasting an annual production capacity of 125 thousand metric tons, Jupiter utilizes recycled aluminium for 96 percent of its feedstock. The Hammond, Indiana firm operates a trio of locations, including a scrap processing unit in its home state and two painting factories, one each in Indiana and West Virginia. Jupiter reported almost US$400 million in revenue in the most recent fiscal year.
