Baker McKenzie advised the Swiss construction chemicals group Sika AG on the acquisition of MBCC Group (Master Builders Construction Chemicals), the former BASF Construction Chemicals division, from Lone Star Funds, a global private equity firm, for a consideration of CHF 5.5 billion (EUR 5.2 billion). MBCC Group is a global supplier of construction chemicals. With approximately 7.500 employees MBCC Group operates more than 150 plants in over 60 countries. In 2021, net sales amounted to EUR 2.7 billion.
The acquisition is subject to regulatory clearances. Sika is confident it will obtain all clearances and close the transaction in the second half of 2022.
An international team of Baker McKenzie lawyers advises Sika AG on the legal aspects of the transaction. The advice includes a global legal due diligence review, the regulatory analysis and filings and the negotiation of the contract documentation for the transaction. The broad global scope of the transaction was a perfect opportunity for Baker McKenzie to add value through the strength of its global network.
"The transaction is an enormous success for our longstanding client Sika as well as for us as a global law firm. The acquisition will complement and broaden Sika's product and solution offerings in its target markets and will further strengthen its geographic footprint. With our global reach, our well-coordinated team, fully committed across our practice groups and offices, we were able to provide efficient support to Sika across all legal areas involved. Of the 48 major jurisdictions in which MBCC is active, we were able to cover 40 jurisdictions with our own Baker McKenzie offices," comments Florian Kästle, lead partner in the transaction.
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 100 countries around the world and manufactures in over 300 factories. Its 25.000 employees generated annual sales of CHF 7.88 billion in 2020.
Just in August 2021 the Baker McKenzie team around Florian Kästle advised Sika on the sale of its industrial coatings business to Sherwin-Williams. In 2019 Baker McKenzie advised Sika on the EUR 2.3 billion acquisition of the French-based mortar producer Parex.
Baker McKenzie's global Corporate/M&A team advises on more cross-border transactions than any other law firm. Most recently, Baker McKenzie advised BizLink on the acquisition of LEONI's Industrial Solutions business, Hyundai Motor Deutschland GmbH on its investment in H2 Mobility, Magna International on the acquisition of Veoneer, Advent International on the sale of Allnex Group to PTT Global Chemical, Cognizant on the acquisition of the ESG Mobility business from Armira Private Equity, Deutsche Beteiligungs AG on the sale of its DNS: Net stake, Paragon on the sale of NovumIP to Questel Group, TA Associates on the acquisition of a majority stake in IGEL, Embracer on the acquisition of Easybrain Limited, SK Telecom on a joint venture with Deutsche Telekom, Chr. Hansen Holding A/S on its acquisition of Jennewein Biotechnologie GmbH, DBAG on its investment in congatec Holding AG, SAP on the sale of the SAP Digital Interconnect communications unit to Sinch AB, Air Liquide on the sale of the Schülke Group to Swedish financial investor EQT and Evonik on the sale of its methacrylates group to Advent International.
Legal advisor to Sika AG:
Corporate/M&A: Florian Kästle (partner, Frankfurt)
Corporate/M&A: Thorsten Seidel (partner, Berlin), Andrea Ziegler (partner, Frankfurt), Ulrich Weidemann (counsel, Frankfurt), Stephan Gönczöl (associate, Munich), Holger Engelkamp (counsel, Berlin), Felix Werner (associate, Frankfurt), Jasmin Mayerl (associate, Berlin), Annalena Nink (Frankfurt), Alan Zoccolillo (partner, New York), James Heller (senior associate, London)
Antitrust: Nicolas Kredel (partner), Jan Kresken (counsel), Markus Mossmann (associate), Florian Kotman (associate, all Dusseldorf), Gavin Bushell (partner, Brussels), Creighton Macy (partner), John Fedele (partner, both Washington)
Employment: Gregor Dornbusch (partner), Benedict Seiwerth (associate, both Frankfurt)
Foreign Trade control: Anahita Thoms (partner), Alexander Ehrle (associate, both Berlin)
Commercial & Trade: Joachim Fröhlich (counsel, Munich)
Public Law: Andreas Schulz (counsel, Berlin)
Further offices involved worldwide:
Almaty, Amsterdam, Bangkok, Bahrain, Baku, Beijing, Bogotá, Brussels, Cairo, Casablanca, Chicago, Dubai, Hanoi, Istanbul, Jakarta, Johannesburg, Kuala Lumpur, Kiev, Lima, London, Luxembourg, Madrid, Manila, Mexico City, Milan, Moscow, New York, Paris, Prague, Riyadh, Rom, Singapore, Santiago, Sao Paulo, Shanghai, Singapore, Stockholm, Sydney, Tokyo, Toronto, Vienna, Warsaw, Washington and Zurich.