On October 1, 2025, Nitrex Metal Inc., a portfolio company of Novacap, completed the sale of its NTS (turnkey nitriding, nitrocarburizing and vacuum heat treat systems) and UPC (provider of controls upgrade and automation solutions for heat treating and combustion) business units to Aichelin Group, one of the world’s leading providers of heat treatment solutions. Fasken has long acted as corporate counsel to Nitrex Metal Inc. and its subsidiaries, which span globally across North America, South America, Europe and China.
The deal involved a number of complexifying elements, including cross-border negotiation, a significant carveout transaction, multi-jurisdictional asset transfers, and a range of legal and regulatory formalities.
This transaction is the largest acquisition in Aichelin’s history, and represents a successful partial exit for Novacap, which will retain the Heat Treating Services (HTS) business unit.
A Fasken team composed notably of Caitlin Rose, Kiran Singh, Alexandra Lazar, Adam Ziri, Lucas Noradounkian, Mathieu Kiriakos, Angela Onesi, Elaine Laberge-Poirier, Marilie Gagné, Jean-Philippe Mikus, Nicolas Charest, Rhonda Grintuch, Quentin Lageix, Carolina Fusco (paralegal) and Priti Majumdar (law student) advised Nitrex Metal Inc. in this transaction.
