Florian Kästle of Baker & McKenzie
Baker & McKenzie advised Wicor Group on the sale of its Automotive & Industrial division. The buyer is the American-based Techniplas Group, which supplies mainly U.S. American vehicle manufacturers with plastic components.
The acquisition was completed by means of a multinational share deal, which included all production, sales and service locations of the division sold. Baker & McKenzie advised on all legal matters in all concerned jurisdictions and accompanied the contract drafting and negotiations. The purchase price is not disclosed.
“The transaction demanded the extraction of the Automotive & Industrial division from the Wicor group in numerous international locations under great time pressure, which presented a challenge to the negotiations,” said Florian Kästle, a corporate partner at Baker & McKenzie in Frankfurt.
Wicor group develops and produces insulation material as well as components for transformers and demanding plastics applications for automotive, industrial and medical engineering (Plastics Technology Division). Wicor Group is active in over 30 locations worldwide and employs around 3,820 people. In 2013, it generated revenues of CHF 563 million. The Group is headquartered in Rapperswil-Jona, Switzerland.
From the Baker & McKenzie release:
Baker & McKenzie’s Corporate/M&A teams regularly advise strategic investors on transactions and restructurings. Most recently, Baker & McKenzie advised Hochtief on the restructuring of its Hochtief Solutions AG and the spin-off of its Service Solutions division, Sulzer AG on the sale of Metco Division of OC Oerlikon, Sika on the acquisition of construction adhesive business of Akzo Nobel, Knorr-Bremse on the purchase of two companies from the rail supply sector, Mahle on the acquisition of Behr, TVH when acquiring mateco as well as Karl Schlecht Foundation on the sale of Putzmeister.
Lead:
Corporate/ M&A: Dr. (partner, Frankfurt), Alexander Fischer (partner, Zurich)
Team:
Corporate: Dr. Barbara Deilmann (partner, Dusseldorf), Anja Safari Chabestari (associate, Berlin), Veronika Novikov (associate, Frankfurt), Petra Hanselmann (associate, Zurich)
Tax: Christoph Becker (partner, Frankfurt), Tino Duttine (partner, Frankfurt)
