Endurance buys Fondalpress to in-source Stöferle castings

Endurance Technologies Limited acquired Italy-based Fondalpress in Q2 FY27 for a net outlay of just under €1 million, adding 16 automated die-casting machines that management says can in-source 100% of Stöferle’s externally purchased raw castings. The acquisition also includes 16,400 square metres of buildings, available land and machining capacity for European growth.

Why did Endurance acquire Fondalpress?

Endurance acquired Fondalpress to combine internal aluminium casting capacity with Stöferle’s machining requirements in Europe. Management said Fondalpress is a historical competitor located about 40 kilometres from an Endurance plant, creating a nearby source of castings for group operations and a larger European manufacturing footprint.

The immediate rationale is Stöferle’s existing sourcing model. Management said Stöferle buys 100% of its raw parts from outside suppliers, whereas Fondalpress’s machines can make those parts internally. Endurance acquired the remaining 32% interest in Stöferle in Q2 FY27, taking its ownership to 100%, before also acquiring 100% of Fondalpress in the same quarter.

Fondalpress had been a significant supplier in the European market, according to Endurance Overseas Chief Executive Officer Massimo Venuti. He said the business generated turnover of €80 million in 2017 and was among the major suppliers to Stellantis Group. In the opening remarks, management also described Fondalpress as having a record of more than €60 million of highly profitable revenue, without disclosing its latest revenue or profit.

What did Endurance pay for Fondalpress?

Endurance said its net acquisition outlay for Fondalpress was just under €1 million, while management separately cited an acquisition price of €12.3 million. Management said the acquired company had €10.2 million of cash and €2.5 million of stock, alongside manufacturing equipment and property assets.

The purchase includes operating assets beyond the cash and stock balance. Venuti said Endurance acquired about 16,400 square metres of buildings, with land available for future growth. He also referred to a new 5,000-square-metre machining facility that could support future expansion and certification work in automotive and other sectors.

The call did not provide a full reconciliation between the €12.3 million acquisition price, the €10.2 million of cash, the €2.5 million of stock and the stated net outlay. It also did not disclose Fondalpress liabilities, working-capital adjustments, integration costs or future refurbishment spending. The under-€1 million figure is therefore management’s stated net acquisition outlay, not a forecast of the total cash that may ultimately be invested in the facility.

What manufacturing capacity does Fondalpress add?

Fondalpress adds 16 fully automated aluminium die-casting machines ranging from 2,300 tonnes to 2,800 tonnes. Management said the equipment is in good working condition and can immediately scale Endurance’s production capacity for large cast components.

The key operational benefit is the ability to replace external purchasing at Stöferle. Management said the Fondalpress equipment can in-source all raw parts currently bought from the market by Stöferle. It expects this internalisation to create economies of scale in contribution margin and earnings before interest, tax, depreciation and amortisation, or EBITDA, although it did not disclose a savings target or transfer timetable.

Fondalpress also fits Endurance’s wider four-wheeler casting expansion. In India, Endurance is expanding casting capacity at Shendra, Chakan, Chennai and Vallam, while its AURIC Shendra facility began start of production on 25 September 2026. The Fondalpress acquisition extends the group’s casting and machining base in Europe, where the direct initial use is linked to Stöferle’s raw-casting demand.

Endurance’s European business reported total income of Rs 1,029 crore in Q2 FY27, up 13% year on year, and EBITDA of Rs 183 crore, up 13.7%. Its EBITDA margin was 17.8%, compared with India standalone EBITDA margin of 10.5% in the same quarter. Endurance did not separately disclose Fondalpress revenue, EBITDA or its contribution to Q2 FY27 results.

How will Fondalpress support Endurance’s truck plans?

Endurance plans to use Fondalpress capacity both for Stöferle in-sourcing and for entry into the European truck sector. Management said truck applications could offer an opportunity to reinforce Endurance’s European position, citing the segment’s potential stability and profitability.

No truck customer, order value, component type or start-of-production date was disclosed on the 4 November 2026 call. The truck strategy is therefore a management plan based on the acquired casting capacity rather than a disclosed revenue programme or order backlog.

The site could also support transmission-housing production for Stellantis. In its opening remarks, Endurance said it would manufacture transmission housings for Stellantis while progressively bringing Stöferle castings in house. Management did not specify the value, timing or volumes of the housing programme, but identified it as one of the synergies expected in the coming months.

Endurance had separately won €28 million of new European orders in H1 FY27. These included two Mercedes orders worth €14 million in Q2 FY27 for specialised components in an upcoming hybrid light commercial vehicle programme, with start of production in 2029. The company also cited a €4 million Stellantis order won in Q1 FY27 for car and light commercial vehicle applications, with start of production in 2027.

What does the deal change in Europe?

Fondalpress gives Endurance a more integrated European chain by connecting casting capacity, Stöferle machining demand and planned transmission-housing production. Management’s stated operating objectives are to internalise purchased castings, manufacture Stellantis housings and seek truck-sector business from the enlarged facility.

The acquisition occurred alongside the full buyout of Stöferle, but the financial effects disclosed for Stöferle should not be treated as Fondalpress gains. Consolidated profit after tax in Q2 FY27 included a Rs 36 crore gain from the early acquisition of the remaining Stöferle stake, largely offset by Rs 31 crore of accelerated depreciation for a European original equipment manufacturer programme.

Europe accounted for 24% of Endurance’s consolidated income in Q2 FY27, compared with 76% from India including Maxwell. Consolidated total income rose 33% year on year to Rs 4,811 crore, while the group had a net cash position of Rs 436 crore on 30 September 2026. Management presented the transaction as a cash-light addition to a group continuing to invest in new manufacturing capacity.

Conclusion

Fondalpress is strategically significant to Endurance because it supplies assets that may replace Stöferle’s complete external dependence on raw castings, rather than merely adding a standalone European facility. The 16 automated machines, buildings and machining capacity support a more integrated casting-to-machining model, while the cash and stock cited by management reduced the stated net acquisition outlay to under €1 million.

The next disclosures to watch are progress in transferring Stöferle casting volumes to Fondalpress, production of transmission housings for Stellantis and any truck-sector nominations. Management expects synergies in the coming months, but has not provided a target for savings, a full internalisation deadline, current Fondalpress financials or a revenue forecast for the acquired facility.