Germany’s GMH Gruppe acquires tool steel producer

Germany-based recycled-content specialty alloys maker GMH Gruppe has acquired 100 percent of the shares of Kind & Co. Edelstahlwerk GmbH & Co. KG, a producer of tool steels based in Wiehl, Germany.

Kind & Co. specializes in the production and refinement of high-alloy steels and offers a range of tool steels and special alloys.

In 2023, Kind & Co. generated sales of about 125 million euros, according to GMH Gruppe, which says of the firm, “Its integration will strengthen GMH Gruppe’s position in the tool steel industry, particularly in the segment of hot-work tool steels, in which Kind & Co. holds an outstanding international position.”

A purchase agreement was signed in August and the transaction was completed Sept. 30.

“We are looking forward to the integration of Kind & Co. into GMH Gruppe,” says Alexander Becker, CEO of GMH Gruppe. “This partnership fits our strategic goals and increases the added value for our customers. Kind & Co.’s products optimally complement our existing range and expand our ability to serve the market in a targeted manner.”

Kind & Co. Managing Director Susanne Wildner adds, “Since its foundation in 1888, Kind & Co. has been family-owned, with the fourth generation in control since 2000. I am, therefore, particularly pleased that we have found a new owner in GMH Gruppe, which is also 100 percent privately owned.

“GMH Gruppe and Kind & Co. share the same values and owner-managed, entrepreneurial thinking and behavior. I, therefore, know that both our family business and our employees are in good hands with a company that will lead Kind & Co. into a positive future”.

The acquiring firm says the integration of Kind & Co. into its business “will enable GMH Gruppe to tap into new market segments, expand its product range and significantly increase its service level for customers. Kind & Co.’s hot-work tool steels are used in particular in die casting, extrusion and drop forging, which will diversify GMH.”

GMH Gruppe is a full-range supplier of steel as a primary material, melted from scrap, through to ready-to-assemble components that has about 6,000 employees and annual sales of approximately 2 billion euros ($2.19 billion).

The group consists of more than 15 production companies in the steel, forging and casting industries with representation in more than 50 countries. With around 6,000 employees, GMH Gruppe generates an annual turnover of around 2 billion euros.

GMH Gruppe says because the metal it produces is based on the recycling of scrap metal, it “produces green steel and thus makes an important contribution to the circular economy.”

While based in Germany, Kind & Co. also has plants or trading offices in China, Italy and in Youngstown, Ohio.