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Eversheds and Anderson Mori & Tomotsune advise SEKISUI Chemical on restructure

Eversheds and Anderson Mori & Tomotsune advise SEKISUI Chemical on restructure

  • Germany
  • Global

    27-01-2016

    Law firm Eversheds and Anderson Mori & Tomotsune have advised SEKISUI Chemical on the restructuring of its pipeline renewal business in Europe.

    The Japanese group SEKISUI Chemical has restructured its pipeline renewal business in Europe by way of a management buy-out. The stock-exchange listed conglomerate SEKISUI Chemical has an annual turnover of approx. EUR 8.5bn and around 24,000 employees.

    The transfer of the ownership of the European manufacturing and construction companies has in the meantime been completed. The sold companies have a combined annual turnover of around EUR 60m. The purchase price was kept confidential. A new company established in the Netherlands will concentrate on the production and sale of SPR method-related products. The technology gives the possibility to renew aged pipelines without the need for extensive ground-digging work.

    Eversheds and Japanese firm Anderson Mori & Tomotsune advised SEKISUI Chemical in relation to this disposal mainly on aspects of German and Austrian law, but also in relation to several CEE jurisdictions.

    Christian Mense, Counsel, Eversheds commented:

    “It was a pleasure to have advised SEKISUI Chemical on this significant deal. We wish them continued success and look forward to working with them on future mandates.”

    SEKISUI Chemical will concentrate in Europe on the businesses of SPR method-related products that have the largest market share in Japan. The respective group of sold subsidiary companies in Europe engaged in the production and sale of pipeline renewal products and engaged in the installation of the pipeline renewal method has been transferred to New Technologies Management SAS, which was established mainly by the management teams of the respective companies.

    Legal advisors to Seller:

    Anderson Mori & Tomotsune – Hiroki Kodate (Corporate/M&A, Tokyo), Yuichiro Nukada (Corporate/M&A, lead, Tokyo), Masahiko Yasui (Corporate/M&A, Tokyo)

    Eversheds – Dr. Alexander Niethammer (Commercial, co-lead), Dr. Christian Mense (Corporate/M&A, co-lead, both Munich), Michael Arnold (Commercial, Birmingham), Mag. Alexander Stolitzka (Corporate/M&A, Vienna), Sebastian Buchholz, Kinga Leyrer (both Corporate/M&A, Munich), Mag. Jakob Leinsmer, Mag. Manuel Boka (both Corporate/M&A, Vienna), Dr. Christian Hilpert, Arndt Kaubisch (both Restructuring), Dr. Manuela Rauch (Employment), Nils Müller (Commercial), Dr. Michael Schneider (Patents), Wolfgang Hierl, Carsten Eichler (both Construction), Dr. Arndt Scheffler (Competition, all Munich)

    Financial advisor to Seller: KPMG – Japan, Germany and Austria

     

    Law firm Eversheds and Anderson Mori & Tomotsune have advised SEKISUI Chemical on the restructuring of its pipeline renewal business in Europe.

    The Japanese group SEKISUI Chemical has restructured its pipeline renewal business in Europe by way of a management buy-out. The stock-exchange listed conglomerate SEKISUI Chemical has an annual turnover of approx. EUR 8.5bn and around 24,000 employees.

    The transfer of the ownership of the European manufacturing and construction companies has in the meantime been completed. The sold companies have a combined annual turnover of around EUR 60m. The purchase price was kept confidential. A new company established in the Netherlands will concentrate on the production and sale of SPR method-related products. The technology gives the possibility to renew aged pipelines without the need for extensive ground-digging work.

    Eversheds and Japanese firm Anderson Mori & Tomotsune advised SEKISUI Chemical in relation to this disposal mainly on aspects of German and Austrian law, but also in relation to several CEE jurisdictions.

    Christian Mense, Counsel, Eversheds commented:

    “It was a pleasure to have advised SEKISUI Chemical on this significant deal. We wish them continued success and look forward to working with them on future mandates.”

    SEKISUI Chemical will concentrate in Europe on the businesses of SPR method-related products that have the largest market share in Japan. The respective group of sold subsidiary companies in Europe engaged in the production and sale of pipeline renewal products and engaged in the installation of the pipeline renewal method has been transferred to New Technologies Management SAS, which was established mainly by the management teams of the respective companies.

    Legal advisors to Seller:

    Anderson Mori & Tomotsune – Hiroki Kodate (Corporate/M&A, Tokyo), Yuichiro Nukada (Corporate/M&A, lead, Tokyo), Masahiko Yasui (Corporate/M&A, Tokyo)

    Eversheds – Dr. Alexander Niethammer (Commercial, co-lead), Dr. Christian Mense (Corporate/M&A, co-lead, both Munich), Michael Arnold (Commercial, Birmingham), Mag. Alexander Stolitzka (Corporate/M&A, Vienna), Sebastian Buchholz, Kinga Leyrer (both Corporate/M&A, Munich), Mag. Jakob Leinsmer, Mag. Manuel Boka (both Corporate/M&A, Vienna), Dr. Christian Hilpert, Arndt Kaubisch (both Restructuring), Dr. Manuela Rauch (Employment), Nils Müller (Commercial), Dr. Michael Schneider (Patents), Wolfgang Hierl, Carsten Eichler (both Construction), Dr. Arndt Scheffler (Competition, all Munich)

    Financial advisor to Seller: KPMG – Japan, Germany and Austria

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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