Deal Announcement 04/19: Chemicals/Automotive
PwC acted as exclusive financial advisor to the shareholders of Hemmelrath Lackfabrik GmbH on the sale to PPG
The Deal
The German PwC M&A team is pleased to announce the successful Closing of Project GROSSGLOCKNER, the sale of Hemmelrath Lackfabrik GmbH to PPG Industries (“Hemmelrath Lackfabrik”). PwC acted as exclusive financial advisor to the shareholders of Hemmelrath Lackfabrik on this transaction.
PwC M&A ran a competitive process whilst observing strictest confidentiality with only a limited number of strategic investors. PwC Transaction Services provided a Financial Fact Book. PwC Legal was responsible for the Legal Fact Book and also led the SPA negotiations for Hemmelrath Lackfabrik. The transaction was closed on 16 April 2019.
Hemmelrath Lackfabrik GmbH
Headquartered in Klingenberg, Germany, Hemmelrath is a family-owned manufacturer of coatings for automotive original equipment manufacturers (OEMs). With more than 450 employees, the company operates manufacturing facilities in Klingenberg and Erlenbach, Germany; Jilin, China; Duncan, South Carolina, United States; and Indaiatuba, Brazil. Hemmelrath supplies more than 50 automotive plants worldwide, and more than 7 million vehicles are coated with its products each year.
PwC
The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 250,000 people in 158 countries. Our global network comprises nearly 1,550 M&A professionals all over the world, realising approx. 400 successful transactions per year. We specialise in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatisations as well as structured financing.
PwC M&A Germany acted as exclusive financial advisor to the shareholder of Hemmelrath Lackfabrik GmbH on this transaction. The transaction was led by Alexander von Friesen (Partner) as well as Alexander Wenzel (Partner) and executed by an experienced team comprising Sebastian Kirsch (Senior Manager), Mona Henning (Senior Associate) and Viktoria Benning (Senior Associate).
