Mutares has successfully completed the acquisition of the forging business in Germany of CIE Automotive
- Add-on acquisition to strengthen the FerrAl United Group with synergies within the range of customers and production machinery for forging and friction welding capabilities
- Specialist in forging and machining with a focus on customers in the truck market
- Revenues of ca. EUR 220 million
Munich, October 16, 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of the three forging businesses, namely Gesenkschmiede Schneider, Schöneweiss & Co. and Falkenroth Umformtechnik, ultimately owned by CIE Automotive S.A., from CIE Forging Germany. The transaction will further strengthen the FerrAl United Group, a supplier of multi-material machined solutions and systems, as an add-on acquisition.
The three companies, headquartered in Germany, are specialized in forging and machining with a focus on customers in the truck market. Together, they employ around 600 employees and generate revenues of ca. EUR 220 million.
The integration into the FerrAl United Group, which has an extensive European presence and range of manufacturing technologies combining the Mutares portfolio companies CIMOS, PrimoTECS Group (including Rasche Umformtechnik and BEW Umformtechnik), Walor Bordeaux (Manufacturing Mobility of Tomorrow – Bordeaux) and Selzer Group, is expected to create valuable synergies in the area of customers and production machinery for forging and friction welding capabilities. In addition, the combination of all companies will contribute to operational improvements in procurement and the realization of cross-selling potentials, which will ultimately increase competitiveness providing the three companies access to new technologies and expertise through the support of the Mutares team.