We are pleased to announce that Craftsman Automation Limited (Craftsman), based in Coimbatore, Tamil Nadu, with a near 40-year pedigree, and one of India’s leading manufacturers of high-quality complex precision engineered machined components for automotive and industrial customers worldwide, has successfully acquired the business and certain assets of Fronberg Guss GmbH and acquired Fronberg Immobilien GmbH (together “Fronberg”) – part of the Gienanth Group. Fronberg is one of Germany’s oldest foundries, established in the 15th century.
Fronberg, based in Schwandorf, Germany, specializes in the production of high-quality iron casting components primarily for the industrial and automotive engines segment, serving a global customer base. With over 500+ years of foundry expertise, Fronberg is known for its robust technical know-how and state-of-the-art manufacturing processes. This acquisition marks a key milestone in Craftsman's growth trajectory, expanding its geographical footprint and product range.
Craftsman participated in a highly competitive global bidding process for this acquisition and emerged as the preferred bidder. The transaction, which marks Craftsman's first overseas acquisition, significantly enhances its global presence in the industrial casting sector, while opening avenues for growth and synergy between the two companies. The deal will further help Craftsman strengthen its European customer base and enter new markets with enhanced production capacity and expertise.
Mr. S. Ravi, Chairman and Managing Director of Craftsman said, "The acquisition of Fronberg is a major step in Craftman’s global strategy to broaden our technical expertise and manufacturing capabilities. With this acquisition, we are gaining a strong foothold in Europe, one of the most advanced markets for industrial and automotive castings. Fronberg’s long history and technical prowess will complement Craftsman’s engineering capabilities, particularly in the industrial and automotive engines segment. Spark Capital has been instrumental in guiding us through this intense bidding process and supporting us in achieving our first international acquisition."
For more information about Craftsman, please visit: https://www.craftsmanautomation.com/
Spark Capital Advisors (India) Private Limited ("Spark Capital") served as the exclusive financial advisor to Craftsman throughout the acquisition process. Spark Capital played a crucial role in assisting Craftsman in submitting an international competitive bid, leading negotiations, coordinating due diligence, and supporting definitive documentation and regulatory requirements in India and Germany and played pivotal role in Craftsman’s first international acquisition.
Prasanna Srinivasan, Managing Director & Practice Head – Industrial & Logistics, Spark Capital said, "This transaction is a landmark for Craftsman, as it represents their first international acquisition. We are privileged and proud to have been part of this and to have supported them in securing this historic foundry, which adds significant technical expertise and production capacity to Craftsman’s portfolio. The synergy between Craftsman and Fronberg is compelling, and we are confident this will drive future growth for both entities. We are grateful to Mr. Ravi and his team for trusting us to guide them through this highly competitive process."
Spark Capital has a more than 12 year relationship with Craftsman and had advised in the past on private equity capital raise, its IPO and an earlier acquisition.