Baker McKenzie advised specialty chemicals group Evonik on the sale of its methacrylates business to financial investor Advent International. The Methacrylate business employs 3,900 people worldwide and comprises 18 production sites. Over the period 2016-2018, the business generated an average annual EBITDA of around 350 million euros with sales of around 1.8 billion euros per year. The transaction is subject to regulatory approval in several countries.
Under the joint leadership of Thorsten Seidel and Barbara Deilmann, a global Baker McKenzie team provided comprehensive advice on all legal aspects of the transaction during the carve-out and subsequent sale of Evonik Industries.
"The successful completion of this transaction is part of our client's strategic realignment. With our team, we were able to contribute to the success of the sale of the business areas," comments Dr. Thorsten Seidel, lead M&A partner on the transaction.
Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-orientated innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world with more than 36,000 employees
Baker McKenzie's Corporate/M&A team regularly advises on domestic and international transactions and restructurings. Most recently, Baker McKenzie advised Mayersche Buchhandlung on merger with Thalia, Sika on its offer to acquire Parex, Rexnord on the sale of VAG Group to Aurelius, MainFirst Holding on the sale of its equity brokerage business, HGZN on the acquisition of NIMAK Group, DBAG Fund VII on its investment in Kraft & Bauer Holding, Thor Industries on the acquisition of Erwin Hymer Group, Körber AG on the sale of the United Grinding Group, financial investors First State Investments and Hermes Investment Management on the acquisition of the shipping company Scandlines, Mundipharma on the sale of its Limburg production and LKQ Corporation on the acquisition of the Stahlgruber Group.
Legal advisors to Evonik:
Lead: Corporate/M&A: Dr. Thorsten Seidel (partner, Berlin)
Corporate/Carve-out: Dr. Barbara Deilmann (partner, Düsseldorf)
Team: Corporate/M&A: Dr. Marcus Meese (partner, Munich), Dr. Peter Wand (partner, Frankfurt), Dr. Michael Bartosch (partner, Munich), Dr. Thomas Dörmer (partner, Berlin), Dr. Katja Heuterkes (counsel, Munich), Dr. Holger Ellers (partner, Berlin), Holger Engelkamp (senior associate, Berlin), Dr. Fabian Hertel (associate, Berlin), Dr. Daniel Neudecker (senior associate, Berlin), Dr. Tino Marz (senior associate, Munich), Eva Maier (associate, Frankfurt), Eva Kriechbaumer (associate, Munich)
HR/Pensions: Dr. Christian Reichel (partner, Frankfurt), Dr. Hagen Köckeritz (partner, Frankfurt), Dr. Bernhard Trappehl (partner, Munich), Dr. Verena Böhm (Counsel, Frankfurt), Laura Klare (Senior Associate, Munich) and Christian Koops (Associate, Munich)
Tax: Sonja Klein (partner, Frankfurt), Christoph Becker (partner, Frankfurt), Ariane Schaaf (associate, Frankfurt)
Commercial: Dr. Philipp Schütt (senior associate, Düsseldorf), Joachim Fröhlich (counsel, Munich), Rebecca Romig (associate, Frankfurt), Dr. Heiko Plassmeier (counsel, Düsseldorf), Dominik Guttenberger (associate, Munich)
IT: Dr. Holger Lutz (partner, Frankfurt), Björn Helwig (counsel, Frankfurt)
IP: Dr. Rembert Niebel (partner, Frankfurt), Andreas Jauch (associate, Frankfurt)
Real Estate: Dr. Florian Thamm (partner, Frankfurt), Dr. Daniel Bork (senior associate, Düsseldorf), Dr. Niklas Wielandt (senior associate, Frankfurt)
Public Law: Dr. Tim Heitling (partner, Berlin), Dr. Janet Butler (counsel, Berlin), Dr. Katharina Weiner (counsel, Düsseldorf), Dr. Andreas Schulz (counsel, Berlin), Dr. Claire Dietz-Polte (associate, Berlin), Vivien Vacha (associate, Berlin), Dr. Ilya Levin (associate, Berlin)
Antitrust: Dr. Anika Schürmann (counsel, Düsseldorf)
Further lawyers in the Baker McKenzie offices in Buenos Aires (Argentina), Australia (Sydney), Austria (Vienna), Belgium (Brussels, Antwerp), Brazil (São Paulo), Canada (Toronto), China (Beijing, Hong Kong, Shanghai), Egypt (Cairo), France (Paris), India (Mumbai), Indonesia (Jakarta), Ireland (Belfast), Italy (Milan), Japan (Tokyo), South Korea (Seoul), Malaysia (Kuala Lumpur), Mexico (Mexico City, Guadalajara, Juárez, Monterrey, Tijuana), Netherlands (Amsterdam), Poland (Warsaw), Russia (Moscow), Singapore (Singapore), South Africa (Johannesburg), Spain (Madrid), Taiwan (Taipei), Thailand (Bangkok), Turkey (Istanbul), United Arab Emirates (Abu Dhabi, Dubai), UK (London) and USA (Chicago, Houston, New York, Washington, Dallas)