Successful Deals with PwC: Georg Fischer acquires VAG-Goup from Aurelius

The Swiss Deals team is pleased to announce the acquisition of VAG-Group (“VAG”), a German full-service provider of water utility valves, by Georg Fischer (“GF”), a global leader in industrial manufacturing from Switzerland. PwC supported GF with a wide range of Deals services comprising financial, tax and pension due diligence, M&A lead advisory support as well as pre-deal PPA and SPA advice.

Founded in 1872, VAG-Group has established a strong reputation as a global full-service provider of high-quality water utility valves for potable water, wastewater infrastructure, hydropower, industrial, and power markets. The company employs around 1’000 people and operates production facilities and sales offices across Europe, the Americas, India, the Middle East, Southeast Asia, Africa, and China. Previously owned by international private equity investor Aurelius, VAG-Group generates annual sales of c. EUR 200 million.

Headquartered in Schaffhausen, Switzerland, and founded in 1802, GF has the vision to become the global leader in flow solutions. The publicly listed company employs around 19’000 people across 46 countries and reported sales of over CHF 4.7 billion in 2024.

The acquisition of VAG rounds up the GF portfolio in Infrastructure Flow Solutions to include pipes, fittings, valves, connection technology, stormwater management and repair solutions. By combining both brands and complementary product portfolios, GF reinforces its position in both the aging water infrastructure and new buildings markets, while also opening doors to new industrial segments.

Subject to customary closing conditions, the transaction is expected to have a value in the range of CHF 200 million. The deal was signed and announced on May 09, 2024 (GF press release). Closing is planned for end of year 2025.

The PwC team

Financial Due Diligence:

Devinder Singh (Partner)
Vincent Lüscher (Director)
Maria Kashina (Senior Manager)
Naomi Jesica Pieren (Senior Manager)
Marc Seiler (Senior Manager)
Felicia Bertschmann (Senior Associate)

Tax Due Diligence:

Marcel Angenehm (Partner)
Nataliya Esakova (Partner)
Masoumeh Kangarani (Director)
Marco Fischer (Manager)
Angus Greer (Manager)
Schervin Pouyan (Senior Associate)
Christina Leu (Associate)
Ivona Petkova (Associate)
PwC Deals Tax teams in several territories including Germany, US, China and Brazil

Pension Due Diligence

Adrian Jones (Partner)
Ester Lamerikx (Senior Manager)
Andreas Klug (Senior Manager)
Cédric Spadetti (Senior Associate)
Lucy Aspinall-Kraft (Senior Associate)

M&A Lead Advisory

Sascha Beer (Partner)
Marco Tremonte (Managing Director)

Robin Sutter (Senior Associate)
Viola Hertkorn (Senior Associate)

Pre-deal PPA advice

Marc Schmidli (Partner)
Matthias Kohlhaus (Senior Manager)
Ricardo Müller (Senior Associate)
Christoph Hirschmann (Senior Associate)