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Closing: Sika’s Acquisition of MBCC Group from Lone Star Funds Now Closed

Closing: Sika’s Acquisition of MBCC Group from Lone Star Funds Now Closed

Romania
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Baker McKenzie and Musat & Asociatii have announced that Sika’s EUR 5.3 billion acquisition of Master Builder Construction Chemicals from Lone Star Funds (reported by CEE Legal Matters on February 23, 2022) had closed.

According to Baker McKenzie, “the transaction represents the largest acquisition in Sika’s 113-year history and was closed on May 2, 2023.” The transaction included “a series of merger control proceedings with 18 merger control authorities. In the US, Canada, the European Union, the UK, Australia, and New Zealand the authorities required the divestment of the admixtures business of MBCC.”

Lone Star Funds is a US-based private equity firm focusing on distressed assets.

Sika AG is a Swiss construction chemicals group. According to Musat & Asociatii, “with subsidiaries in 100 countries and 25,000 employees, Sika is a leading specialty chemicals company in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. The former BASF Construction Chemicals division, the MBCC Group is a global supplier of construction chemicals, operating more than 150 plants in over 60 countries." BASF had sold MBCC to financial investor Lone Star in 2019.

As previously reported, Musat & Asociatii and Baker McKenzie had advised Sika on its EUR 5.2 billion acquisition of the MBCC Group from Lone Star Funds.

The Musat & Asociatii updated team included Partner Monia Dobrescu, Managing Associates Madalina Trifan, Dragos Lungu, Simona Anton, Ana Maria Abrudan, and Oana Lupu, Senior Associates Cristian Cepesi and Sirin Omer, and Associate Evelina Stoian.

Baker McKenzie’s team included lawyers in New York, Washington D.C., Toronto, London, Belfast, Brussels, Berlin, Munich, Duesseldorf, Frankfurt, and Sydney.

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Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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