Grant Thornton Hungary acted as the exclusive transaction advisor of Iron-Tech Zrt. in the course of the latter’s acquisition by Luma Automotive.
Iron-Tech Zrt. is a leading Hungarian precision metal parts manufacturer, and a supplier of several multinational companies in the automotive and rail industries. In 2019, the net revenue of the company was ca. HUF 5.8 billion, with an after-profit of ca. HUF 1.1 billion, and it currently employs nearly 250 people. Its headquarters is in Szigetvár, a town located in the southwestern part of Hungary, near the Croatian border.
As Luma’s first acquisition in Hungary, the transaction in February 2021 consisted of purchasing of 100% of the shares in Iron-Tech by Luma Automation, which is part of Luma Holding, a Polish capital group. Luma actively invests in the CEE region, especially in metal manufacturing companies. Its portfolio includes companies such as Saga Tools, Hydomat and Postep, among others.
Grant Thornton Corporate Finance (Hungary) was the Seller’s sole financial advisor during the transaction process, jointly with the Seller’s legal advisor, Dr. Róbert Krausz, Partner at Németh and Tímár Attorneys at Law Office (www.nestlaw.com).
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