14 April 2023
Luxembourg-based International Chemical Investors Group (ICIG) has acquired Evonik's Lülsdorf site and the associated cyanuric chloride business in Wesseling, North Rhine-Westphalia. ICIG has been advised on the deal by a team led by Taylor Wessing M&A partners Stephan Doom and Michael Stein. A corresponding contract was signed on 6 April 2023; the parties have agreed not to disclose the purchase price. Lülsdorf is an essential part of the Functional Solutions business line within the Performance Materials Division of the world's leading specialty chemicals company Evonik. The final transfer of the site is planned for mid 2023. The closing of the transaction is, inter alia, subject to antitrust clearance as well as the approval of the responsible committees of Evonik.
ICIG will take over the entire Niederkassel-Lülsdorf site (near Cologne) on the right bank of the river Rhine as well as the associated cyanuric chloride business, which is located on the opposite site in Wesseling, with over 600 employees and all production facilities. ICIG is already active with subsidiaries in chlorine chemicals and specialty chemicals and wants to further expand the businesses located at the two sites as well as invest in renewable energy facilities.
"The transaction marks an important further step for ICIG in the implementation of its corporate strategy. Taylor Wessing was called upon here as a Full Service law firm. We are pleased that we were able to successfully contribute to the signing of the transaction," says Stephan Doom, the partner in charge at Taylor Wessing for the project.
Legal advisor International Chemical Investors Group
Taylor Wessing Germany: Stephan Doom (Lead, Salary Partner, Corporate/M&A), Michael Stein (Co-Lead, Partner, Corporate/M&A), Alisa Mathes (Senior Associate), Ercan Cömert (Associate), all Frankfurt am Main, Dr Angela Menges (Salary Partner, Hamburg), all Corporate/M&A, Dr Anja Fenge (Partner), Hannes Tutt (Salary Partner), Niels Heim (Senior Associate), Galya Stareva (Professional Support Lawyer), all Real Estate, Dr Michael Kieffer (Partner), Munich, Nils Schulze-Brüggemann (Associate), Vanessa Komm (Associate), both Frankfurt, all Commercial Contracts, Dr. Stefan Horn (Salary Partner), Dr Marco Hartmann-Rüppel (Partner), Lena Rindsfus (Associate), Niklas Melzer (Associate), all Hamburg, Competition, EU & Trade, Dr Jan Grawe (Salary Partner), Dr Sara Thienhaus (Senior Associate), Sophie Burmeister (Associate), all Frankfurt, Dr Kilian Friemel (Partner, Munich), all Employment & Pensions, Dr André Lippert (Salary Partner), Kris Breudel (Associate), both Berlin, Dr Christian Ertel (Senior Associate, Munich), Walid Hamid Saden (Associate, Düsseldorf), all Environmental, Planning & Regulatory, Dr Stefan Fröhlich (Salary Partner), Henrik Lerchl (Associate), both Trademarks Frankfurt, Dr Jan Phillip Rektorschek (Partner), Julia Fischer (Associate), both Patents, Munich, all IP Law, Ulf Gosejacob (Partner), Dr Michael Beyer (Salary Partner), both Finance, Frankfurt.
About International Chemical Investors Group
International Chemical Investors Group is a privately-owned industrial group with a total turnover of approximately € 4 billion. ICIG focuses on four main platforms: Fine Chemicals under the WeylChem brand, Chlorovinyls under the Vynova brand, Compounds under the Benvic brand and Enterprises with specialised companies in sodium metals, industrial drying services, fermentation products, viscose filaments, activated carbon and wood protection chemicals. Today, the ICIG companies employ around 4,800 people and operate more than 20 production facilities in Europe and the United States.
For further information please visit www.ic-investors.com
Evonik is one of the world leaders in specialty chemicals. The Evonik group is active in more than 100 countries around the world and generated sales of €18.5 billion and an operating profit (adjusted EBITDA) of €2.49 billion in 2022. Evonik goes far beyond chemistry to create innovative, profitable, and sustainable solutions for customers. About 34,000 employees work together for a common purpose: We want to improve life today and tomorrow.
For further information please visit https://corporate.evonik.com/en
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