We have advised Hirschvogel Holding GmbH (Hirschvogel Group), an international leading component manufacturer in the automotive industry, on the sale of its US production facility, Hirschvogel Incorporated (Hirschvogel Inc.), to private equity investor Mutares.
Family-owned Hirschvogel Group is a group of companies with a worldwide presence. With nine production sites in Europe, Asia, and America, the group is, besides selected industrial products, one of the world’s largest automotive suppliers in the area of steel and aluminium forging as well as subsequent machining. With 6,500 employees, the group generated consolidated sales of €1.5bn in 2023.
Based in Columbus, Ohio, US, Hirschvogel Inc. is a specialist in the forging and machining of steel components with core capabilities in warm forging, cold forging machining, and heat treatment. Its broad product range includes pinions, transmission shafts, rotor shafts, yokes, and joints, which the company supplies to a wide range of OEMs and Tier-1 suppliers. With around 320 employees, the company generated revenues of approx. €100m, offering Mutares significant growth potential.
Mutares, headquartered in Munich, is an international private equity investor focused on special situations. Mutares focuses on the acquisition of parts of large corporations (carve-outs) and companies in transformational situations, aiming to leverage the development potential of the usually distressed target companies within the framework of an active turnaround process and lead them to a stable as well as profitable growth path.
Hirschvogel Inc. will be integrated into Mutares’ portfolio company, Walor International, part of the FerrAl United Group, expanding the company’s market position and realise synergies across all companies in the FerrAl United Group. The transaction is the first deal in the US, right after Mutares’ office opening in Chicago, and in line with Mutares’ internationalisation strategy.
