Leading Global law firm Baker & McKenzie has advised equity fund management company Astorg as it signed an agreement to sell 100% of the shares of Metalor Technologies International SA to Japanese industrial group Tanaka Kikinzoku Kogyo. Thanks to Astorg, Metalor has been able to invest extensively in Europe as well as in Asia and in the Americas. The Tanaka group hope to build on this, with a new level of shareholder stability and technological skill.
Baker & McKenzie advised Astorg in this transaction on aspects of Swiss law, with a team led by Alexander Fischer and Marcel Giger.
Founded more than 150 years ago, Metalor’s business focuses on metallic plating, metal refining, and manufacturing of metallic components for electrical equipment. With more than 1500 employees, the Metalor Group is present in Europe, the United-States, South-America and Asia. It is being purchased by Japanese industrial group Tanaka, which wants to boost its business, as growth in Japan has stagnated due to a falling population. The purchase of Metalor will allow Tanaka to expand into precious metals recovery and refining in Europe, North America and Asia, according to Akira Tanae, Representative Director and CEO, Tanaka Kikinzoku Kogyo K.K.
Joël Lacourte, Managing Partner of Astorg, commented: "Since 2009, we have supported and financed a major step in Metalor development, with the construction of 3 new facilities in China, Singapore, and Mexico, and the acquisition of 2 businesses in North America and Asia. We are very proud to have participated to this chapter of the life of this over 160 year old Swiss company. No doubt that Metalor, backed by its new shareholder, will have a successful future."
Baker & McKenzie partner Alexander Fischer said, "We were very pleased to be able to assist on such a significant deal, which will build on the success that Metalor experienced under Astorg. The deal follows a number of other exits by European firms to Japanese buyers over the past year, as Japanese companies look to overseas markets for growth."