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News from Members WOLF THEISS ADVISES ADEPLAST S.A. IN THE 100% SALE TOWARDS THE SWISS GROUP SIKA

WOLF THEISS ADVISES ADEPLAST S.A. IN THE 100% SALE TOWARDS THE SWISS GROUP SIKA

by Wolf Theiss Rechtsanwalte GmbH & Co KG November 25, 2019

Wolf Theiss has assisted the shareholders of Adeplast S.A., a major Romanian manufacturer of mortars and thermal insulation solutions, a country leader with four industrial platforms located in Oradea, Ploieşti, Roman and Isalniţa, with the signing of a sale purchase agreement for the sale of 100% of the shares to SIKA Group. The transaction is subject to clearance by anti-trust authorities in 4 jurisdictions.

Adeplast S.A. generates sales of EUR 110 million with a workforce of over 450 employees. The acquisition will significantly strengthen SIKA’s position in the Romanian construction chemicals market and extend its manufacturing footprint.

The Romanian team of Wolf Theiss assisted the shareholders of Adeplast S.A. in all stages of the transaction, from the initial steps of the sale process including negotiation of the MoU, setting up the data room and assisting in the due diligence process and on antitrust issues, throughout the negotiation process up to the successful signing of the share purchase agreement and of all the ancillary transactional documentation in relation to the transfer of the shares. Wolf Theiss will continue to be involved in the preparation of the necessary closing formalities leading to the successful completion of the transfer of Adeplast S.A. to SIKA Group.

This was a very special transaction for us. I am very grateful for the professionalism and great spirit of collaboration of everyone involved, including our financial advisers Alantra and BI Corporate Finance. We are all proud to have written history in many ways and to have contributed, through this deal, to the coronation of Romanian entrepreneurship”, stated Ileana Glodeanu, Wolf Theiss Partner and Coordinator of the Corporate / M&A team in Romania.

"Adeplast's acquisition by Sika is most certainly a landmark transaction for the Romanian economy. Adeplast represents outstanding Romanian entrepreneurship reaching global strength and visibility once the acquisition will be cleared by the Romanian Competition Council. We have been part of a success story which will be told over generations" said Daniel Stăncescu, CEO of Adeplast.

The Wolf Theiss Bucharest team of lawyers who worked on this complex transaction was led by Partner Ileana Glodeanu (Corporate/M&A) and included Counsel Mircea Ciocîrlea, Associates Luciana Tache, George Ghitu and Cornelia Postelnicu on Corporate /M&A matters, Counsel Adelina Iftime-Blagean on Employment matters, Associates Alexandru Roman and Andrei Sălăgean on Real Estate matters, Associate Nina Lazar on Data Protection matters and Associate Sorin Dumitru on IP matters.

ABOUT ADEPLAST S.A.

Adeplast S.A is headquartered in Ploiesti, 70 km north of Bucharest, and produces a wide range of building mortars as well as thermal insulation (EPS) for building envelope solutions. It operates four state-of-the-art production plants which provide a nationwide coverage of Romania and offer the potential to serve neighbouring countries as well. The strategically located facilities will enable the buyer to realize efficiency gains in logistics and warehousing as well as to further enhance its ability to serve customers with fast supply and excellent product availability.

ABOUT SIKA

Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 101 countries around the world and manufactures in over 300 factories. Sika employs more than 24,000 people and is forecasting sales of over CHF 8 billion for fiscal 2019.

ABOUT WOLF THEISS

Founded in 1957, Wolf Theiss is one of the leading European law firms in Central, Eastern and South-Eastern Europe with a focus on international business law. With 340 lawyers in 13 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and international industrial, trade and service companies, as well as banks and insurance companies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.

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