Cuatrecasas advised Gonvarri Industries
on signing an agreement to acquire 40% of the shareholding of Hidria, a Slovakian company specializing in cutting-edge industrial and automotive technology. This new alliance will enable Gonvarri to become one of the main suppliers of components for electric and hybrid electric vehicles, a market that last year was valued worldwide at €5 billion.
With 60 years of experience, 45 factories and 20 distribution centers, and over 6,000 employees, Gonvarri has consolidated its position as a world leader for transforming flat steel and aluminum. It supplies products to the main manufacturers in the automotive sector, as well as metal structures for industrial applications, and for the energy and logistics sectors.
The agreement, pending the corresponding regulatory approval, will make Gonvarri a strategic partner of H&R, owner of Hidria. “The two companies aim to overcome the new challenges arising in the automotive industry, which is in rapid and constant growth particularly due to the boom of electric vehicles. The association with Gonvarri Industries will enable Hidria to increase global sales and production, and to extend its influence and visibility in Europe and wordlwide,” said Federico Roig, the Cuatrecasas partner leading the transaction.