Worthington Steel Completes Acquisition of Controlling Equity Stake in Sitem Group
June 3, 2025
Worthington Steel (through its subsidiary Tempel Steel Company, LLC) completed the acquisition of a controlling ~52% equity stake in Italy-based Sitem Group (Sitem S.p.A. and subsidiaries). The deal combines a cash investment, the acquisition of shares from existing shareholders, and the contribution of Worthington Steel’s Nagold, Germany facility, with an option for Worthington Steel to increase its ownership in the future.
- Buyers
- Worthington Steel, Inc., Tempel Steel Company, LLC
- Targets
- Sitem Group (Sitem S.p.A. and its subsidiaries: Stanzwerk AG, Decoup S.A.S., and Sitem Slovakia spol. s r.o.)
- Sellers
- Existing shareholders of Sitem Group (unnamed)
- Platforms
- Industry
- Industrial Services
- Location
- Italy
- Transaction Type
- Buyout
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