CERHA HEMPEL has advised GF Casting Solutions Services GmbH, a division of Georg Fischer AG, on the sale of an iron foundry in Herzogenburg to MRB FerCon GmbH.
During the course of the comprehensive transaction, CERHA HEMPEL also advised GF Casting Solutions AG on its acquisition of a minority shareholding in MRB FerCon GmbH. Signing and closing for the whole transaction took place in October.
With approximately 250 employees, the iron foundry in Herzogenburg generates turnover of approximately CHF 75 million (EUR 68 million). The sale was made as part of a management buyout. The managing directors and majority shareholders of MRB FerCon GmbH are former executives of the Georg Fischer group. In closing this deal, GF Casting Solutions completes its withdrawal from the automotive casting business in Europe.
GF Casting Solutions is one of the world's leading solution providers for lightweight components used in cars and trucks as well as in the aviation and energy sectors that contribute to a reduction in CO2 emissions. The division develops and produces highly complex metal components at sites in Switzerland, Germany, Austria, Romania, China and the USA.
The Georg Fischer group consists of three divisions: GF Piping Systems, GF Casting Solutions and GF Machining Solutions. The industrial enterprise established in 1802 has its headquarters in Switzerland and operates 140 companies, of which 57 are production sites, in 33 countries. In 2018, the group's 15,027 employees generated turnover of CHF 4.57 billion (approximately EUR 4.1 billion). The Georg Fischer group is the preferred partner of its clients for the safe transport of liquids and gases, for lightweight casting components and for high-precision manufacturing technologies.
The team at CERHA HEMPEL was headed by Albert Birkner (Corporate/M&A, Takeovers). It also included Nadine Leitner, Wolfgang Sindelar and Alistair Gillespie (all Corporate/M&A).