Herbert Smith Freehills Kramer advised US-based Neapco Holdings, LLC, a leading global provider of driveline solutions, on its acquisition of drive shafts and joints manufacturer IFA Group. The seller is Munich-based industrial group AEQUITA, which acquired IFA Group in 2022.
The transaction will create one of the world’s largest driveline systems group, with more than 5,000 employees and sales of around US$ 2 billion. The combined company will offer an expanded technology and product portfolio and an even broader range of driveline technologies for combustion engines, hybrid and electric vehicles.
IFA Group, based in Haldensleben, Saxony-Anhalt, Germany, is a leading supplier to the automotive industry, specialising in drive shafts and joints. IFA employs around 2,000 people at seven locations in Germany, the USA, China and Poland.
Neapco, founded in 1921 and headquartered in Farmington Hills, Michigan, develops, manufactures, and distributes high-quality powertrain products for passenger cars, commercial vehicles, and agricultural and industrial applications. Neapco has more than 3,300 employees across 13 locations.
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