Nemak enters into agreement to acquire GF Casting Solutions

GF Casting Solutions is a division of the Swiss industrial company Georg Fischer (GF). The transaction includes the entirety of GF Casting Solutions’ automotive business with approximately USD707 million annual revenue, and adjusted EBITDA of USD91 million in 2024. This acquisition includes an R&D center located in Switzerland and nine production facilities strategically located in Austria, China, Romania, Germany, and the United States, with approximately 2,500 employees across its operations.

The product portfolio comprises highly complex aluminum and magnesium components: around 80% in e-mobility and structure & chassis, and around 20% in other components. The customer base includes leading European and Chinese OEMs.

The transaction implies an enterprise value of USD336 million. An initial disbursement of USD160 million will be paid at closing, financed through long-term credit facilities. The remaining consideration includes the assumption of existing operating and financial liabilities, and additional deferred components, such as vendor financing and contingency-based holdbacks to be released over a five-year period. The acquisition is expected to close in the second half of 2025, subject to customary regulatory approvals and other standard conditions.

The transaction supports Nemak’s strategic objective of expanding its technological capabilities beyond ICE powertrain components and broaden its global footprint and will allow Nemak to further diversify its customer base, and represents a milestone in Nemak’s efforts to transition towards sustainable mobility.

Nemak, headquartered in Monterrey, Nuevo León, Mexico is a leading provider of innovative lightweighting solutions for the global automotive industry, specializing in the development and manufacturing of aluminum components for mobility, structure & chassis, and ICE powertrain applications. In 2024, it generated revenue of USD4.9 billion.

The international A&O Shearman team was led by partner Dr. Nicolaus Ascherfeld and senior associate Christin Schlorf, and also included partners Dr. Jonas Wittgens (all Corporate/M&A), Dr. Börries Ahrens (all Hamburg), James Webber (London), Vivian Cao (Shanghai), Jonathan Cheng (New York, all Antitrust), Dr. Udo Olgemöller (Frankfurt), Ken Rivlin (New York, both Public Law), Catharina Glugla (Data Protection, Düsseldorf), John Hibbard (Tax, New York), Jill Ge (IP Litigation, Shanghai), Peter Wehner and Dr. Sebastian Schulz (both Employment, both Frankfurt). The team also comprised counsel Dr. Daniel Bolm (Real Estate, Hamburg), senior associates Dr. Kathrin Haag and Dr. Philipp Steinhäuser (both Antitrust, all Hamburg), Merle Herrmann (Employment, Hamburg), Thomas Hohe, Sven Gunkel (both Employment, both Frankfurt), Anna Kräling (IP/IT, Düsseldorf), and Stephan Bühner (Public Law, Frankfurt), associates Dr. Till Arne Storzer, Dr. Timo Cöster (both Corporate/M&A, both Hamburg), Rebecca Xu (Corporate/M&A, Shanghai), Friederike Ehmler, Carl-Philipp Hoepner (both Real Estate, both Hamburg), Pascal Yves Schröder (Data Protection, Düsseldorf), Janina Müller, Nils Najmann (both Public Law, both Frankfurt), Henriette Hübener (Antitrust, Hamburg), and Katharina Jünemann (IP/IT, Düsseldorf), as well as executive transaction lawyer Laura Thiel (Frankfurt).