Dec. 17, 2014
Andritz Group Buys Herr-Voss
Herr-Voss Stamco is now part of a $7 billion global technology company. With the new owner’s backing, the Callery, Pa., manufacturer of coil processing equipment says it is well positioned for future acquisitions and new product introductions.
The Andritz Group, based in Graz, Austria, purchased Herr-Voss from Grey Mountain Partners, its private equity owners, in mid-November for an undisclosed sum. The company is now known as Andritz Herr-Voss Stamco Inc. or AHVS.
“The acquisition gives the company an opportunity to introduce Andritz to the North American marketplace through a well-known brand like Herr-Voss Stamco,” says Kip Mostowy, who continues as president of AHVS.
The Andritz Group is a global supplier of plants, equipment and services for hydropower stations, the pulp and paper industry, the metalworking and steel industries, and solid/liquid separation in the municipal and industrial sectors. It operates over 250 facilities with 24,500 employees worldwide.
Its metals segment supplies complete lines for the production and processing of stainless steel, carbon steel, and non-ferrous metal strip, including equipment for cold rolling, heat treatment, surface finishing, strip coating and finishing, punching and deep drawing, and for the regeneration of pickling acids. It also supplies turnkey furnace systems for the steel, copper, and aluminum industries, as well as laser and resistance welding equipment for the metalworking industry.
Andritz’s business is primarily mill-oriented, but that does not signal a change at Herr-Voss, Mostowy says. The AHVS business will continue to be split between the manufacture of coil processing equipment, such as levelers, slitters and cut-to-length lines, and mill services, such as roll grinding and rolling mill equipment repairs. The strategic direction of the company will remain largely the same under its new ownership.
Some aspects of the companies will be integrated and some will not, he adds. Andritz will give the U.S. operation the freedom to continue doing what it does best. “Herr-Voss has been very successful in coil processing equipment and mill services. They will allow us the autonomy to continue to expand that as we go forward.”
Unlike the previous owners, Andritz is a strategic owner and takes a very long-term view of the company and its markets. Its purchase removes some of the uncertainty of the prior ownership, Mostowy says. “In short order, we are going to be very active in the marketplace in terms of additional new products and acquisitions as a result of having a strategic owner. What this acquisition does is cement the ownership status and strategic direction of the company.”