Baker McKenzie has advised Paragon Partners on the acquisition of all shares in Castolin Eutectic from MEC Group. Castolin Eutectic, headquartered in Kriftel, Germany, is the globally leading provider of wear protection and repair solutions for industrial equipment. Its more than 1,600 employees generate annual revenues of EUR 300 million.
The transaction is subject to the approval of the competent authorities. The parties have agreed not to dis-close the transaction volume.
An international team of Baker McKenzie lawyers advised Paragon Partners comprehensively on all legal aspects of the complex transaction involving more than 30 jurisdictions. A particular challenge was the focused due diligence on a global scale and the complex international carve-out of the target companies from the seller group.
"Thanks to our full service approach and our global presence, we were able to identify the numerous cross-border issues at an early stage and address them efficiently. This helped us bring the transaction to a successful conclusion together with the Paragon team despite the particular challenges posed by the corona crisis," comments Dr. Ingo Strauss, lead partner of the transaction.
Founded in 2004, Paragon Partners is one of the leading, independent private equity firms in Europe with more than EUR 1.2 billion of equity capital under management. Paragon Partners works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. Paragon Partners seeks to unlock value in fundamentally attractive businesses, leveraging its ability to address transactional and operational complexity and transform companies through tailored value creation programs. The firm is based in Munich, Germany.
MEC (www.mec-holding.de) operates four divisions, which are technology leaders in their segments. Based in Bad Soden (Germany), the company coordinates the global activities of Messer Cutting Systems, Spectron Gas Control Systems and BIT Group. Together with Castolin Eutectic the group generates sales of EUR 575 million with 3,000 employees. MEC Group is part of Messer World.
The global Corporate/M&A team of Baker McKenzie advises on more cross-border transactions than any other law firm. Most recently the team advised Air Liquide on the planned sale of the Schülke Group to the Swedish financial investor EQT, METRO AG on the establishment of a strategic partnership with Wumei Technology Group, Bayer AG on the sale of its majority stake in the chemical park operator Currenta, SPIE on the acquisition of OSMO, Toppan Printing Co. Ltd. on the acquisition of the German Interprint Group, Evonik on the sale of its methacrylate business to Advent International, Mayersche Buchhandlung on merger with Thalia, DBAG Fund VII on its investment in Kraft & Bauer Holding and Thor Industries on the acquisition of Erwin Hymer Group.
Legal advisor to Paragon Partners: Baker McKenzie
Lead: Corporate/M&A: Dr. Ingo Strauss (partner), Dr. Heiko Gotsche (partner, both Dusseldorf)
Team: Corporate/M&A: Cosima König-Mancini (associate, Dusseldorf), Celina Zaim (associate, Dusseldorf), Dr. Richard Stefanink (associate, Dusseldorf)
Tax: Christoph Becker (partner, Frankfurt)
Real Estate: Dr. Daniel Bork (senior associate, Dusseldorf)
IT: Dr. Holger Lutz (partner, Frankfurt), Dr. Tobias Born (senior associate, Frankfurt)
Employment: Dr. Anna Verena Böhm (counsel, Frankfurt), Cornelius Ziegler (associate, Frankfurt)
IP: Dr. Markus Hecht (senior associate, Frankfurt)
Commercial&Trade: Rebecca Romig (associate, Frankfurt)
Further Baker McKenzie offices: Lawyers from the Baker McKenzie offices in Austria, Belgium, Canada, France, Italy, Japan, Mexico, Poland, Russia, Singapore, Spain, Switzerland, Thailand, Turkey, UK, USA and United Arab Emirates