Finatem Acquires WST Praezisionstechnik
WST Praezisionstechnik, a Loffingen, Germany-based company that manufactures high-end, ready-to-mount precision turned and milled parts, has received a majority investment from Finatem Beteiligungsgesellschaft.
The amount of the transaction was not disclosed.
The company, which has customers in the automotive, drive technology, hydraulics and mechanical engineering sectors, intends to use the proceeds from the fund to continue to grow. It plans to expand its site at Löffingen, and its machine park, as well as create additional jobs.
Founded in 1993 by Sabine e Georg Willmann, WST Praezisionstechnik has around 230 full-time employees and generates around €40m of annual revenue.