Together with Spanish law firm Cuatrecasas, GLNS has advised CIE Automotive S.A. on the sale of three German forging businesses, namely Gesenkschmiede Schneider, Schöneweiss & Co. and Falkenroth Umformtechnik, to Mutares SE & Co. KGaA. For Mutares, the transaction represents an add-on acquisition for its FerrAl United Group to strengthen the Automotive & Mobility segment.
CIE Automotive is a publicly listed industrial group acting as global full service supplier for components, assemblies and sub-assemblies. CIE Germany is a manufacturer of forged and machined components for the European truck market. The three businesses are located in Germany and together employ around 600 people.
Munich-based Mutares SE & Co. KGaA is publicly listed investment company that acquires medium-sized companies and parts of groups with headquarter in Europe.
The closing of the transaction is expected in the third quarter of 2023.
GLNS advised on the transaction with the Corporate/M&A-partners Dr. Daniel Gubitz and Dr. Daniel Epe as well as Banking & Finance-partner Dr. Anselm Lenhard. GLNS advised on the transaction alongside long-standing CIE Automotive adviser Cuatrecasas with Corporate/M&A partner Jose Ramón Berecibar. Mutares was represented by a team around Dr. Martin Kolbinger from SZA Schilling, Zutt & Anschütz.