On August 1, 2023, Binder Groesswang announced that Semperit Aktiengesellschaft Holding's acquisition of the Austrian Rico Group (reported by CEE Legal Matters on May 9, 2023) had closed.
According to the firm, the transaction comprised three Austrian-based companies and one subsidiary each in Switzerland and the US. The closing took place in Linz on July 31, 2023.
The Rico Group is a silicone injection molding tools supplier and liquid silicone components producer. The Rico Group includes companies in Austria, Switzerland, and the US. In the 2022 financial year, the Rico Group generated sales of approximately EUR 90 million and employed more than 500 people.
Publicly-listed company Semperit Holding develops and produces polymer products for the industrial and medical sectors, including hydraulic and industrial hoses, conveyor belts, escalator handrails, construction profiles, cable car rings, products for railway superstructures, and examination and surgical gloves.
As previously reported, Binder Groesswang advised Semperit, SCWP Schindhelm advised the sellers, while CMS advised a consortium of banks led by UniCredit Bank Austria and UniCredit Bank on providing EUR 250 million in financing for Semperit.
According to Binder Groesswang, Holland & Knight advised Semperit on US law and Walder Wyss acted as Swiss local counsel.
The Binder Groesswang team was led by Partner Florian Khol and Attorney-at-Law Christoph Schober and included Partners Clemens Willvonseder, Ivo Rungg, Markus Uitz, Regina Kroell, and Christine Dietz, Counsels Hellmut Buchroithner and Alexander Kramer, Attorney-at-Law Felix Fuith, Associates Christopher Marchel, Sung-Hyek Hong, Larissa Wagner, Florian Defrancesco, David Schneebauer, Lisa Jost, Magdalena Schachinger, Raphael Dorda, and Stefanie Syrch, and Lawyers Florian Gruber, David Roetzer, Sabine Apfl-Trompeter, and Christoph Raab.
The SCWP Schindhelm team included Partner Gerald Schmidsberger and Lawyer Bernhard Gonaus.
The CMS team was led by Partner Stefan Paulmayer and included Attorney-at-Law Wolfgang Hellsberg and Associates Ramona Mujanovic and Mark Timar.