CHSH Cerha Hempel Spiegelfeld Hlawati has advised the Austrian Herz group, which has operations worldwide, in connection with the acquisition of the majority of the shares in Hirsch Servo.
The Herz group has 12 production sites across Europe, as is the leading manufacturer of products used in facility management, as well as biomass boilers and heat pumps. Hirsch Servo is the EPS specialist listed on the Vienna Stock Exchange (EPS stands for expandable polystyrene – better known under the brand names Styropor® and Porozell®), with production sites in Austria, Hungary, Poland, Romania, Slovakia, and Italy. The company reported EUR 88 million in sales in 2013.
The Herz group acquired approximately 62% of the total share capital of and voting rights in Hirsch Servo, both indirectly via Lifemotion, which was originally controlled by Matthias Calice, and directly from Kurt Hirsch Holding. It has therefore published a mandatory offer to acquire all of the shares in Hirsch Servo in accordance with the relevant provisions of the Austrian Takeover Act.
According to CHSH, “the Herz group intends to continue to support the management of Hirsch Servo in implementing the restructuring measures the company has already embarked on, its growth strategy and the investment projects that are necessary in that regard.”
The team at CHSH was led by Partner Thomas Trettnak and also consisted of Partner Heinrich Foglar-Deinhardstein and Associates Jakob Hartig, Franziska Mensdorff-Pouilly, and Stephanie Sauer.
