Baker McKenzie advised GF Casting Solutions, a division of Georg Fischer AG, on the sale of two iron casting plants in Singen and Mettmann to Fondium B.V. & Co. KG. The two iron casting plants were divested to Fondium as part of a management buyout, effective retroactively as of 1 December 2018. GF remains a 20% investor for a transition period. The two plants achieved a revenue of approx CHF 620 million with a dedicated workforce of 2000 employees. The new owners will continue all operating activities at the facilities. The parties agreed not to disclose the transaction value.
Baker McKenzie advised Georg Fischer AG on all legal aspects in connection with the sale of the two iron casting plants.
"With a well-rehearsed team, we assisted in enabling our client to take better advantage of their market opportunities by adjusting their portfolio and in successfully positioning themselves for the future," commented Dr. Ingo Strauss, Corporate Partner at Baker McKenzie.
Fondium B.V. & Co. KG was founded by three current managers of GF Casting Solutions, Achim Schneider, Arnd Potthoff and Matthias Blumentrath. The three Executives together combine more than 40 years of experience in the industry.
GF comprises three divisions: GF Piping Systems, GF Casting Solutions, and GF Machining Solutions. Founded in 1802, the Corporation is headquartered in Switzerland and is present in 34 countries with 136 companies, 57 of them production facilities. Its 15.835 employees generated sales of CHF 4.1 billion in 2017. GF is the preferred partner of its customers for the safe transport of liquids and gases, lightweight casting components, and high-precision manufacturing technologies.
Baker McKenzie's Corporate/M&A team regularly advises on domestic and international transactions and restructurings. Most recently, Baker McKenzie advised Rexnord on the sale of VAG Group to Aurelius (previously having advised on the acquisition of CENTA Group), BITZER on a joint venture with the Wurm Group, MainFirst Holding on the sale of its equity brokerage business, HGZN on the acquisition of NIMAK Group, DBAG Fund VII on its investment in Kraft & Bauer Holding, Thor Industries on the acquisition of Erwin Hymer Group, Körber AG on the sale of the United Grinding Group, Global Ports Holding Plc on its strategic investment in Dreamlines, financial investors First State Investments and Hermes Investment Management on the acquisition of the shipping company Scandlines, Mundipharma on the sale of its Limburg production and LKQ Corporation on the acquisition of the Stahlgruber Group.
Legal advisor to Georg Fischer AG:
Lead: Corporate/M&A: Dr. Ingo Strauss and Dr. Heiko Gotsche (both partner, Düsseldorf)
Team: Corporate/M&A: Dr. Holger Ellers (partner, Berlin), Dr. Matthias Courvoisier (partner, Zürich), Cosima König (associate, Düsseldorf)
Employment: Dr. Hagen Köckeritz (partner, Frankfurt)
Banking/Finance: Dr. Oliver Socher (partner, Frankfurt), Anouschka Zagorski (counsel, Frankfurt)
Real Estate: Dr. Florian Thamm (partner, Frankfurt), Dr. Daniel Bork (associate, Düsseldorf)
IP: Dr. Rembert Niebel (partner, Frankfurt), Andreas Jauch (associate, Frankfurt)
Tax: Christoph Becker (partner, Frankfurt)
Public Law: Dr. Janet Kerstin Butler (counsel, Berlin), Maximilian Voll (associate, Berlin)