Baker McKenzie has advised Daiwa House Industry Co., Ltd. (Daiwa House) on its entry into the agreement to acquire shares in Jan Snel Group's holding company, Flexbuild Holding B.V. Upon the transaction's closing, Daiwa House will make Flexbuild and its operating company, Jan Snel, its subsidiaries. *For more details, please see Daiwa House's press release here.
As part of its continuing business expansion overseas, this undertaking marks Daiwa House's full-fledged entry into Europe and follows their acquisition of Stanley-Martin Communities, LLC in the United States in 2017, and Rawson Group Pty Ltd. in Australia in 2018.
Jan Snel was founded in the Netherlands in 1960 and is involved in the steel frame unit sales and rental business, with a focus on products through steel frame modular buildings in their home country as well as in Germany, Belgium and the United Kingdom. With Daiwa House's know-how and Jan Snel's technology and distribution channels, business in Europe is expected to further flourish.
This transaction was led by M&A partner Tetsuo Tsujimoto of Baker McKenzie's Tokyo office. Senior associate Masahiro Inaba and associate Yuki Todaka were also involved in the transaction.
"We are very honored to be able to support Daiwa House, one of Japan's leading housing manufacturers, in their expansion into Europe, following our involvement in their transactions in the United States and Australia," said Tetsuo in reaction to the deal. "We wish them success in the European market."
The core cross-border Baker McKenzie team that advised Daiwa House consisted of Mo Almarini, Koen Bos, Joost Polman, Suzanne van Balen and Philip Lückmann from the Amsterdam office. Furthermore, many other colleagues from the Amsterdam, Brussels, Frankfurt and London offices assisted Daiwa House throughout the transaction.