Ninth acquisition in 2024: Mutares has completed the acquisition of Hirschvogel Incorporated from Hirschvogel Holding GmbH

  • First deal in USA right after the office opening in Chicago supporting Mutares’ growth targets and highlighting the strategic importance of the expansion into the US
  • Add-on investment to strengthen the FerrAl United Group
  • Specialist in the forging and machining of steel parts for OEMs and Tier-1 suppliers

Munich, July 8, 2024 – Walor International S.A.S., part of the FerrAl United Group and ultimately controlled by Mutares SE & Co. KGaA (ISIN: DE000A2NB650), has completed the acquisition of Hirschvogel Incorporated from Hirschvogel Holding GmbH. The company will join the FerrAl United Group as a new add-on investment, strengthening the group’s presence in the US market as a global partner for iron and aluminum-based castings and forgings and their machining and the Automotive & Mobility segment of Mutares. Hirschvogel Incorporated will be renamed Walor North America Inc. further to the acquisition.

Based in Columbus, Ohio, USA, the company 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 such as Ford, Metallus and Dana. With around 320 employees, the company generated revenues of approx. EUR 100 million in 2023 with significant growth potential.

The new acquisition is intended to further expand the FerrAl United Group’s forging and machining footprint in the USA and realize cross-selling and production synergies within the Group. FerrAl United Group is a globally active automotive supplier of castings and forgings based in Frankfurt/Main, Germany, with more than 30 sites worldwide.

Johannes Laumann, CIO of Mutares, comments: “I am very pleased to announce our first deal in the USA right after our office opening in Chicago, in line with our internationalization strategy. With Hirschvogel Inc. joining the FerrAl United Group, I am highly confident, that we can further expand the company’s market position and realize synergies within all companies in the FerrAl United Group. This achievement marks a significant milestone for us in this enormous growth market. We are optimistic that this is just the beginning of a series of successful transactions, and we look forward to capitalizing on the enormous opportunities the US market has to offer.”