International law firm Taylor Wessing, led by Munich partner Dr Philip Cavaillès, has advised Lankwitzer Lackfabrik on all aspects of the sale of its aluminium wheel liquid coatings business to AkzoNobel, a Dutch multinational manufacturer of paints and performance coatings.
In addition to a production facility and laboratories in Leipzig, Lankwitzer's wheel and rim business has a growing presence in China and Turkey. The company's products are approved for use by OEMs such as Daimler, Audi, VW, Opel, Fiat and Renault.
The acquisition of the liquid coatings business for aluminium wheels strengthens AkzoNobel's performance coatings portfolio. The transaction, which is still subject to customary merger control clearance, is expected to close before the end of 2022.
Since its foundation in 1952, Lankwitzer has developed into an internationally successful company with the goal of offering industrial coatings of the highest quality. 70 years of cross-industry experience is the basis for the success of the owner-managed company.
The transaction follows a series of acquisitions AkzoNobel has made in the last two years, including Grupo Orbis in Latin America, Titan Paints in Spain and Portugal, New Nautical Coatings in the US and most recently the planned acquisition of the African paints and coatings activities of Kansai Paint.
Taylor Wessing Germany: Dr Philip Cavaillès (Lead Partner), Dr Daniel Schrembs (Salary Partner), Cristina Böckle (Salary Partner), Till Schwichtenberg (Associate), Fritz Krings (Associate) (all Corporate/M&A), Dr. Adrian Birnbach (Partner, Real Estate), Janine Krupa-Soltane (Salary Partner), Dr Klara Pototzky (Senior Associate), Dr Benedikt Groh (Senior Associate), Annika Meyer (Associate) (all Employment), Dr Tim Schwarz (Salary Partner, IT/Data Protection), Dr Stefan Horn (Salary Partner, Competition)