• Equity valuation of 3 divisions within
    BMT International Group
Case study:

Equity valuation of 3 divisions within BMT International Group

05 November 2019

BMT International SA, a Luxembourg industrial and family-owned holding company, asked BDO Corporate Finance  to value its 3 leading divisions: BDS (IGW), OMCO and BMT Aerospace.

BMT is a global market leader in glass engineering, moulding, as well as aerospace manufacturing and automotive solutions. The company’s roots go back more than 130 years ago - to 1882 where ‘Usines et fonderies de Baume & Marpent’ was founded in 2 locations in Belgium and France. Today, its activities are subdivided into four major divisions:  (1) BMT Drive Solutions (BDS), including IGW; (2) OMCO; (3) BMT Aerospace and (4) CNUD-EDCO GFT.

BMT’s largest division is BMT Drive Solutions, or ‘BDS’. This branch, equipped with a completely vertically integrated global value chain, designs and manufactures components for transmissions, engines, compressors and pumps, amongst others. With manufacturing plants across Europe, India, China, US and Mexico, the division has close to 3.000 employees. In 2018, it realized a turnover of EUR 337m, representing a 15.5% growth since 2016.

BDO Corporate Finance implemented various valuation techniques including both the DCF method and market multiples approach to carry out the valuation of the different segments.

BDO Corporate Finance looks forward for future cooperation with BMT.