Baker McKenzie has advised Worthington Enterprises on the USD 10 million sale of 49% of Worthington’s Sustainability Energy Solutions business segment to Hexagon Composites forming a joint venture with Hexagon Composites. Saxinger, Chalupsky & Partner reportedly advised Hexagon.
Worthington Enterprises is a designer and manufacturer of consumer and building products.
According to Baker McKenzie, "Hexagon Composites acquired 49% of Worthington’s Sustainability Energy Solutions business segment for approximately USD 10 million to form a joint venture focused on capitalizing on the global clean energy transition specific to the storage, transport, and distribution of hydrogen and compressed natural gas. Worthington Enterprises will maintain 49% ownership and the existing executive management team will hold the remaining 2%. Based in Europe, the Sustainability Energy Solutions business segment has more than 500 employees working in its Austria, Germany, and Poland facilities."
The Baker McKenzie team included Austria-based Counsels Claudia Fochtmann-Tischler, Edmund Schuster, Philipp Stanek, and Robert Wippel, Senior Associates Sophie Schubert and Nina Lenhard, and Associates Clara Fercsak, Klara Kastner, Mariella Neidhardt, Jakob Jaritz, Valentin Polla, Balint Oszvar, and Elias Parzer, Warsaw-based Associate Dominika Dec, and further team members in the US, Luxembourg, and Germany.
