Mutares' portfolio company Walor North America was counseled by our law firm regarding their acquisition of TSM Corporation, previously owned by HCI Equity Partners.
In a significant move, Walor North America Inc., a subsidiary of FerrAl United Group owned by Mutares SE & Co. KGaA, has announced the acquisition of TSM Corporation on June 17, 2025. The transaction, which was advised by White & Case LLP, marks a strategic expansion for Mutares in the North American market.
TSM Corporation, a leading U.S.-based manufacturer, specializes in precision machined components and value-added assemblies primarily for the automotive industry. The company produces complex, close-tolerance steel and aluminum parts, including chassis and suspension components, tow hooks, engine, and powertrain parts. TSM serves blue-chip OEMs (Original Equipment Manufacturers) and Tier 1 suppliers in the automotive sector.
The acquisition represents an add-on to FerrAl United, reinforcing its Automotive & Mobility segment, particularly strengthening Mutares' footprint in the North American market. TSM Corporation had approximately USD 120 million in revenues projected for 2024, underscoring its significant scale in the industry.
This acquisition enhances Mutares' strategic focus on expanding its services and support to clients worldwide through the FerrAl United platform. By integrating TSM, Mutares substantially bolsters its North American operations, leveraging TSM's manufacturing expertise and client base in automotive parts.
The transaction's environmental aspects were advised by Taylor Pullins (Houston), while employment expertise was provided by Samantha Rozell (Chicago). Tax expertise was provided by David Dreier (New York) and Isaac Tendler (New York).
White & Case LLP advised Walor North America Inc. on the acquisition of TSM Corporation, with a team led by Leonardo Graffi (Milan & London), Caitlin Powell Gimpel (New York), David Dreier (New York), Taylor Pullins (Houston), Stefano Bellani (Milan), Yehuda Rubel (New York), Isaac Tendler (New York), Samantha Rozell (Chicago), Francesco Balestra (Milan), Nicola Tosin (Milan), Mwangala Simataa (New York), Francesca Muraca (Milan), and Noemi Stimamiglio (Milan).
The acquisition of TSM Corporation by Walor North America Inc. strengthens Mutares' Automotive & Mobility segment in North America by adding a well-established manufacturer of precision automotive components and assemblies. This move deepens Mutares' market presence and supports its global client service strategy.
[1] Business Wire, "Mutares Acquires TSM Corporation," June 17, 2025, [https://www.businesswire.com/news/home/20250617005316/en/Mutares-Acquires-TSM-Corporation](https://www.businesswire.com/news/home/20250617005316/en/Mutares-Acquires-TSM-Corporation)
[2] Reuters, "Mutares Buys TSM Corporation from HCI Equity Partners," June 17, 2025, [https://www.reuters.com/business/mutares-buys-tsm-corporation-hci-equity-partners-2025-06-17/](https://www.reuters.com/business/mutares-buys-tsm-corporation-hci-equity-partners-2025-06-17/)
[3] Automotive News, "Mutares Acquires TSM Corporation," June 18, 2025, [https://www.autonews.com/suppliers/mutares-acquires-tsm-corporation](https://www.autonews.com/suppliers/mutares-acquires-tsm-corporation)
- White & Case LLP, a global law firm, served as advisors for the acquisition of TSM Corporation by Walor North America Inc.
- The acquisition of TSM Corporation marks a strategic expansion for Mutares SE & Co. KGaA in the North American market.
- TSM Corporation, a leading U.S-based manufacturer, specializes in precision machined components and value-added assemblies for the automotive industry.
- By integrating TSM Corporation, Mutares substantially bolsters its North American operations, leveraging TSM's manufacturing expertise and client base in automotive parts.
- The acquisition enhances Mutares' strategic focus on expanding its services and support to clients worldwide through the FerrAl United platform.
- TSM Corporation had approximately USD 120 million in revenues projected for 2024, underscoring its significant scale in the industry.
- The acquisition of TSM Corporation strengthens Mutares' Automotive & Mobility segment in North America by adding a well-established manufacturer of precision automotive components and assemblies.
- The environmental aspects of the transaction were advised by Taylor Pullins from White & Case LLP's Houston office, while employment expertise was provided by Samantha Rozell from the Chicago office.
- Leonardo Graffi, Caitlin Powell Gimpel, David Dreier, Taylor Pullins, Stefano Bellani, Yehuda Rubel, Isaac Tendler, Samantha Rozell, Francesco Balestra, Nicola Tosin, Mwangala Simataa, Francesca Muraca, and Noemi Stimamiglio from White & Case LLP were part of the team that advised Walor North America Inc. on the acquisition.
- Mutares' acquisition of TSM Corporation was reported by Business Wire, Reuters, and Automotive News.
