Herbert Smith Freehills Kramer has advised Energy Fuels Inc. on its acquisition of Vacuumschmelze GmbH & Co. KG (VAC) and its related group companies from Ara Partners.
Energy Fuels is acquiring VAC for a total consideration of $718 million in cash and 65.853 million newly issued shares of Energy Fuels common stock, which, based on a closing share price of $16.12 (as of June 22, 2026), corresponds to an equity value of $1.9 billion.
Upon completion of the transaction, VAC will become a wholly owned subsidiary of Energy Fuels but will retain its brand. Ara Partners will hold a 19.9 % stake in Energy Fuels.
The transaction is expected to close in early 2027, subject to customary closing conditions and regulatory approvals. Energy Fuels' Board of Directors has already unanimously approved the transaction.
Energy Fuels, a company listed on the NYSE and headquartered near Denver, Colorado, is a leading U.S. company in the critical minerals sector, with a focus on uranium, rare earth elements (REE), heavy mineral sands, vanadium, and medical isotopes.
VAC has been active in the field of high-performance magnetics for over 100 years and manufactures high-quality NdFeB and SmCo permanent magnets at several locations in North America, Europe, and Asia.
Herbert Smith Freehills Kramer advised Energy Fuels with the following team:
Düsseldorf/Frankfurt: Oliver Duys (Partner, Lead), Michael Gläsner (Counsel, Co-Lead), Nikita Tkatchenko (Partner, all Corporate/M&A), Marcel Nuys (Partner), Florian Huerkamp (Counsel, both Competition), Marius Boewe (Partner, Regulatory), Steffen Hoerner (Partner, Tax), Florian Schmidt-Bogatzky (Partner, IP), Fritz Kleweta (Partner, Finance), Thies Deike (Counsel, IT), Associates: Johannes Niegemann, Lena Tubes, Sven Büttner (all Corporate/M&A), David Rasche, Dejan Einfeldt, Jan Diedrichs (all Regulatory), Dirk Metzler, Tatiana Guenster (both Tax), Mirko Gleitsmann, Lennard Posser (both Competition), Paula Cürten (IP), Julia Ickstadt, Majaani Hachmeister, Matthias Joschko (all Employment), Florian Moeller (Finance)
Paris: Nina Bowyer (Partner), Annabelle Woerth (Counsel, both Corporate/M&A), Quentin Bachelot (Avocat, Real Estate)
London: John Taylor (Partner), Darius White (Associate, both Corporate/M&A)
Shanghai: Nanda Lau (Partner, Corporate/M&A), Gillian Miao (Counsel, Employment), Tianchan Li (Associate, Corporate/M&A)