Torqx announces the sale of Esteves Group by DTG to Sumitomo Electric Industries
Torqx Capital Partners is pleased to announce that its portfolio company Diamond Tools Group B.V. (“DTG”) has entered into a share purchase agreement for the acquisition of its subsidiary DTG Finance B.V. (“Esteves Group”), a global leading manufacturer of high precision diamond tooling for the wire and cable industry, by A.L.M.T. Corp (“ALMT”), as part of Sumitomo Electric Industries (“SEI”). Financial terms of the transaction are not disclosed.
Esteves Group is known for its precision diamond tools for the global wire and cable industry, offering a complete product portfolio that includes wire drawing dies, extrusion tools and specialty tools. As a truly global company, Esteves Group serves a loyal customer base across EMEA, the Americas and Asia regions, and has long-standing partnerships with industry leading customers.
The acquisition of Esteves Group will enable SEI and ALMT to significantly expand its geographical presence and accelerate its global growth. The merger will bring together complementary customer segments and innovative solutions. As the new shareholder, SEI will support Esteves Group’s management team in realizing its business ambitions and further developing the company as the global leader of wire drawing dies for the wire and cable industry.
Manuel Geremias, CEO at Esteves Group, commented: “We are very excited about the prospect of joining forces with ALMT – a merger based on decades-long business relation and shared corporate values. The combination will create a global leader with a wealth of know-how, the most advanced technological capabilities and the deepest market reach. We look forward to a prosperous collaboration that will enable us to meet the evolving needs of our clients and maintain our industry leadership. I would also like to extend our gratitude to Torqx for their invaluable support over the past years.”
David van Hasselt, Partner at Torqx Capital Partners, stated: “It has been a privilege for us to work with Manuel and the Esteves team, and we are proud of everything we have achieved together. Over these past years, Esteves has optimized and expanded its production footprint and capacity, expanded into new regions, developed new product lines and brought exciting new innovations to market. Now that the company is in a better position than ever, it is very rewarding to see the merger with ALMT coming together, which safeguards the company’s future and opens new opportunities to thrive.”
Kazuo Yamagata, President of ALMT Corp., added: “We are highly impressed by Esteves Group’s technological capabilities and commercial leadership. This acquisition aligns perfectly with our strategic vision to expand our presence in EMEA and the Americas. We are eager to work closely with the talented team at Esteves Group to explore new opportunities and drive innovation in the industry.”
For this transaction, DC Advisory acted as corporate finance advisor to DTG, Loyens & Loeff acted as legal advisor, Deloitte provided the financial and tax vendor due diligence, and OC&C assisted in commercial vendor due diligence.
About Esteves
Esteves Group is the leading manufacturer of high precision wire drawing dies, cabling dies, and extrusion tooling for the wire and cable industry. With manufacturing facilities strategically located across Europe, the Americas and Asia, the company guarantees proximity and accessibility for unmatched precision and expertise. For more information, visit Esteves Group.
About A.L.M.T. Corp.
ALMT is the result of the merger of Tokyo Tungsten Co., Ltd. and Osaka Diamond Industrial Co., Ltd. in 2000. The company has grown steadily in areas of i) raw material production, processing and refinement of high-melting point metals; and ii) the manufacturing of precision diamond tools. For more information, visit A.L.M.T. Corp.