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Mayer Brown advises MacLean-Fogg Company on sale of Presswerk Krefeld

25 January 2017
Mayer Brown represented MacLean-Fogg Company on the sale of its Presswerk Krefeld affiliate to HANNOVER Finanz as new equity investor and majority shareholder as part of a management buy-out. The sale is subject to approval by the antitrust authorities. The purchase price was not disclosed.

The above mentioned sale was linked to two asset deals of PWK IBEX GmbH, a Presswerk Krefeld affiliate, where the company acquired the businesses of Gebrüder Kunze GmbH and IBEX Automotive GmbH from insolvency. It was a comprehensive challenge to combine all three transactions and to integrate the contracts within a short time frame which ended in a joint merger control notification.

MacLean-Fogg Company is a global consortium in the automobile and power utility sector. Founded in 1925, the company operates 40 manufacturing facilities and has more than 4,000 employees worldwide. The headquarters is located in Mundelein, Illinois, USA.

Presswerk Krefeld (PWK) is a leading provider of high-tech-linkage and suspension components for the automobile industry. Since 2004 PWK was a legally independent subsidiary of MacLean-Fogg Company.

Mayer Brown has represented MacLean-Fogg for many years in Germany, among others already on the purchase of PWK.

The Mayer Brown team included partner Dr. Marco Wilhelm (lead, Corporate & Securities, Frankfurt), Dr. Jens Peter Schmidt (Antitrust, Brussels), counsel Dr. Malte Richter as well as associate Stefanie Skoruppa (both Corporate & Securities, Frankfurt).

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