Clearwater International has advised the founder of FINOBA Group, including FINOBA AUTOMOTIVE GmbH (FINOBA), on the sale of 100% of the share capital to Chinese Automotive Engineering Corp. (AE), a subsidiary of Sinomach Group (China National Machinery Industry Corp.).
Founded in 1996 and headquartered in Baunatal-Hertingshausen, Germany, FINOBA is the only fully-integrated European processing and machining specialist for lightweight aluminum and magnesium based die-casted components for large-series production of automotive chassis and powertrain parts. FINOBA generated sales of approx. €50m in 2015 and employs approx. 450 people at four highly automated production facilities located across Germany.
FINOBA’s competencies include trim pressing, manual processing, heat treatment, deburring, truing, machining, mounting, impregnation, washing, pickling passivation and quality control, offering a one-stop-shop solution to leading OEMs such as the VW Group, BMW and Daimler.
Sinomach, established in 1997, is a state-owned enterprise, directly managed by the Chinese central government. Sinomach is a Fortune Global 500 company. Headquartered in Beijing, China, the group has 110,000 employees, over 40 wholly-owned or majority-owned subsidiaries, 10 listed companies, and more than 180 overseas service agencies.
The Clearwater International team was led by Managing Partners Markus Otto and Tobias Schätzmüller and supported by Analysts Pierre Knoche and Julian Feulner.
Markus Otto, Managing Partner, Clearwater International said: “This transaction is an important milestone in the internationalisation strategy of Sinomach Group, providing market-leading lightweight machining competence and customer access to Sinomach’s subsidiary Automotive Engineering. For FINOBA, Sinomach represents a strong and reliable partner to further support the company on its international growth path.”
Tobias Schätzmüller, Managing Partner and Global Sector Head Automotive, Clearwater International added: “This transaction demonstrates both the increasing strategic importance of lightweight materials in the automotive sector, as well as the importance of German technology and customer access for Chinese companies pursuing an international growth strategy. The Clearwater Automotive team is proud of having advised FINOBA on this cross-border transaction, which represents the 242nd transaction of Clearwater International’s Automotive Sector Team and our 4th transaction with a Chinese M&A counterparty in the last 12 months.”