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Foreign Investments Europe Americans acquire Lankhorst
Americans acquire Lankhorst
The American steel wire and cable company WireCo has acquired the rope factory Royal Lankhorst Euronete in Sneek, for which they paid nearly 145 million Euro. Lankhorst now has plenty of room to benefit from new markets, and the company’s employees received a bonus.
Lankhorst and WireCo are both strong players in the market for high-tech cables for offshore. The Dutch specialize in plastic and WireCo in steel. With 4,400 employees, the American company is much larger than Lankhorst, which has 1,300 people in service. The acquisition was engineered by the private equity fund Pain and Partners, which owns WireCo.
In 2011, Lankhorst achieved turnover of 174 million Euro and net profits of 6.2 million.
Source: Leeuwarder Courant, July 16, 2012