ALDEL - Damco Aluminium Delfzijl Coöperatie U.A.

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Aldel – management -led buyout


Aldel – Management-led buyout aimed at securing long-term future as leading green aluminium producer

  • Buyout led by CEO, with support of management team and key customers
  • Secures commitment to the business and its clean aluminium strategy
  • Focus on investment and positioning Aldel for the future
  • Creates basis for a new international metals group

York Capital has completed the sale of Aldel and its related assets to Aloft Holdings NL AG (“Aloft”), a Swiss metals company formed by current Aldel CEO Chris McNamee.  The transaction has been completed with support from Aldel’s Works Council, Union representatives, and employees throughout the process.  The transaction closed on 26 November 2021.

The acquisition is supported by Aldel’s leading customers and financing partners, including Glencore International, which has renewed and extended its support to the business.  The acquisition will provide Aldel with a committed long-term ownership structure and a stronger balance sheet from day one.  The acquisition is underpinned by an experienced management team that knows the business well, and that is committed to the strategy of creating a leading European producer of green aluminium.  Achieving this strategy is core to meeting the undertaking by the Kingdom of the Netherlands, alongside other major economies, to meet ambitious energy transition goals.

Aldel aims to become one of Europe’s leading low-cost and energy-efficient Aluminium companies.  Aldel’s plant has billet and rolling slab capacity to produce 150,000 tonnes per annum.  Current billet production stands at around 70,000 tonnes per annum. 

Aldel hopes to be able to re-start its primary aluminium potlines in the future, and is actively engaged with stakeholders in this regard.  In particular, Aldel is working with the Dutch Government to achieve clarity on a level playing field with other EU Nations with regard to Indirect CO2-Cost Compensation (ICC) for the current emission trading phase (2021-2030).  A level playing field for ICC payments would help support investment in our assets and our people in the medium and long term.

Commenting on the acquisition, Chris McNamee, Aldel CEO and CEO of Aloft said:

“This is a great opportunity to build on what we have done so far to re-establish Aldel as a leading player in green aluminium, and a major contributor to employment and economic growth in the region.  We have a great team in place, a strong balance sheet and an ownership structure that can support our long-term vision.  It is now up to us, with the support of our people and our community, to seize that opportunity to create something that we can be proud of.  We believe Europe more than ever needs a strong efficient and green manufacturing base and that, as an independent producer of aluminium, we have an important part to play in this transition.” 

It is intended that Aldel will form the core of a new international metals group able to grow both organically and by acquisition.  Aloft has put in place a Strategic Advisory Board made up of leading figures in the industry, so as to enhance its ability to deliver upon this strategy.  You can learn more about Aloft, its people, and its strategy at the company’s website:  

For further inquiries:   
Netherlands Eric Wildschut – Chief Financial Officer, Aldel E: T: +31 596 638 290International Andrew Garfield – Garfield Advisory Ltd E: T: +44 7974 982337

Aldel – Damco Aluminium Delfzijl Coöperatie U.A.

Aldel is a high-quality primary aluminium producer, headquartered in Delfzijl in the Netherlands.  In 2020 the company generated revenue of c.€130 Million, with 82,000 tonnes of invoiced metal.  The company supplies high grade aluminium for the European transportation and construction industries.  It is investing in modernising and expanding production.  The company’s strategic plan includes the deployment of state-of-the-art carbon capture and recyclable battery technology to minimise CO2 and other greenhouse gas emissions, and to reduce energy costs.  Aldel, as a major electricity consumer, also has an important role to play in helping balance the Dutch energy grid as renewables, such as offshore wind from the North Sea, take an increasingly significant share in the overall energy mix.  

Aloft AGAloft is a metals company created by Aldel CEO Chris McNamee, with the ambition to become a leading producer of low and zero net carbon metal.  A former banker with a strong track-record in the metals and mining sector, Chris has been CEO of Aldel since 2017, during which time he has led the turnaround of the business and re-established its reputation.  Inspired by Chris’ own family tradition of entrepreneurship, it is intended that Aloft should build over time, both organically and by acquisition, into a scale producer in the metals sector.  Aloft has put in place a Strategic Advisory Board made up of leading figures in the industry, so as to enhance its ability to deliver upon this strategy.  You can learn more about Aloft, its people, and its strategy at the company’s website: