French listed Delfingen Industry Group has acquired the European and African business activities of insolvent German Schlemmer Group. Taylor Wessing acted as lead counsel of Delfingen Industry in this complex combined asset and share transaction spanning seven jurisdictions. The German industrial group Schlemmer specializing in cable protection and the manufacture of injection moulded parts for the automotive industry had been facing operational and financial difficulties and filed for insolvency in December 2019. The business operations acquired by Delfingen Industry represent a turnover of around EUR 100 million, generated in five plants with 1,000 employees in Germany, Romania, Russia, Spain, Italy, Morocco and Tunisia, the latter three being joint ventures. With a turnover of EUR 230 million in 2019 generated with 3,000 employees in 26 plants in 20 countries worldwide, Delfingen Industry is one of the world leaders in the field of electrical cable protection for the automotive industry. The parties agreed not to reveal the purchase price. The transaction is completed.
Legal counsel to Delfingen Industry:
: Dr. Christian Traichel (Lead Partner, Corporate/M&A), Dr. Rebekka Krause, Dr. Stephanie Zajicek (both Corporate/M&A), Dr. Hendrik Boss (Restructuring), Marc André Gimmy, Dr. Klara Pototzky, Christiane Richter–Wienke, LL.M. (Kent), (all Employment), Dr. Adrian Birnbach, LL.M. (Stellenbosch), Theresa Haßlberger (both Real Estate), Dr. Benedikt Rohrßen, Michael Wietzorek (both Commercial), Dr. Nicolai Wiegand, LL.M. (NYU), Dr. Tim Jonathan Schwarz (both IT), Dr. Verena Ahmann, Andreas Bauer (both IP).