HCI Equity Partners has sold TSM Corporation to Walor North America, a subsidiary of FerrAl United and portfolio company of Mutares
THE TRANSACTION
On June 17, 2025, HCI Equity Partners sold its portfolio company, TSM Corporation, a leading manufacturer of precision machined components and value-added assemblies, to Walor North America, a subsidiary of FerrAl United and ultimately owned by Mutares SE & Co. KGaA. The acquisition strengthens Mutares’ automotive segment and its presence in the North American market. Donnelly Penman & Partners acted as the exclusive financial advisor to TSM and HCI, and Greenberg Traurig, LLP served as legal counsel.
Our Client
TSM Corporation
Headquartered in Auburn Hills, Michigan, with an additional facility in Ramos Arizpe, Mexico, TSM specializes in the production of complex, close-tolerance steel and aluminum components for automotive applications. Key products include chassis and suspension components, tow hooks, and engine & powertrain parts. TSM serves blue-chip automotive OEMs and Tier 1 suppliers and has approximately 240 employees - 185 in the U.S. and 55 in Mexico. For more information, please visit www.tsmcorp.com.
Transaction Partner
Walor North America and FerrAl United
Walor North America, based in Columbus, Ohio, specializes in the forging and machining of steel components with core capabilities in warm and cold forging, machining, and heat treatment. Key products include pinions, transmission shafts, rotor shafts, yokes, and joints, serving OEMs and Tier 1 suppliers. Walor NA is a subsidiary of FerrAl United, a global supplier of forgings, castings and machined components and assemblies for light vehicle, commercial vehicle, and off highway applications. FerrAl United operates more than 30 locations worldwide and generates over EUR 1 billion in revenues. FerrAl United is owned by Mutares SE & Co. KGaA. For more information, please visit www.ferral-united.com.
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Automotive & Truck
Automotive & Truck
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