TSM Corporation Sold to Walor North America Inc.
Deal News | Jun 17, 2025 | HCI Equity Partner
HCI Equity Partners, a specialist in lower-middle-market private equity investments, announced the sale of its portfolio company, TSM Corporation, to Walor North America Inc., part of FerrAl United and ultimately controlled by Mutares SE & Co. KGaA. Headquartered in Auburn Hills, Michigan, TSM Corporation manufactures precision steel and aluminum components for the automotive industry, with $120 million in revenue reported in 2024. The company has been under HCI's stewardship for eight years, during which it invested in advancing technology and capabilities. The transaction, facilitated by advisors Donnelly Penman & Partners and Greenberg Traurig, LLP, marks a strategic transition designed to bolster TSM’s product dynamics to its new parent company.
Sectors
- Private Equity
- Automotive Manufacturing
Geography
- United States – HCI Equity Partners is based in Washington, DC, and TSM Corporation is headquartered in Auburn Hills, Michigan.
- Mexico – TSM Corporation also has a production facility in Ramos Arizpe, Mexico, adding a geographical dimension to its operations.
Industry
- Private Equity – The article focuses on HCI Equity Partners, which is a private equity firm involved in investing and managing portfolio companies.
- Automotive Manufacturing – TSM Corporation manufactures complex steel and aluminum components for automotive OEMs and Tier 1 suppliers, making it part of the automotive manufacturing industry.
Financials
- Not Disclosed – Financial terms of the sale were not disclosed.
- 120 million USD – TSM Corporation generated approximately $120 million in revenue in 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| HCI Equity Partners | Selling Company | Company | A private equity firm specializing in lower-middle-market investments. |
| TSM Corporation | Target company | Company | A manufacturer of precision steel and aluminum components for the automotive industry. |
| Walor North America Inc. | Bidding Company/Buyer | Company | Subsidiary of FerrAl United, involved in the automotive industry. |
| FerrAl United | Parent Company | Company | The parent group of Walor North America Inc., linked to the wider automotive supply chain. |
| Mutares SE & Co. KGaA | Ultimate Parent Company | Company | The ultimate holding company of FerrAl United, involved in strategic acquisitions. |
| Donnelly Penman & Partners | Financial Advisor | Company | Acted as the financial advisor to TSM and HCI in the transaction. |
| Greenberg Traurig, LLP | Legal Advisor | Company | Provided legal advisory services to TSM and HCI. |
| Dan Dickinson | Executive Chairman | Person | Executive Chairman at HCI Equity Partners. |