Gleiss Lutz advises Lindsay Goldberg on sale of VDM Group
Private equity fund Lindsay Goldberg has signed a share purchase agreement with Aperam S.A., Luxembourg, one of the world's leading producers of stainless steel and electrical sheets, which will acquire its shares in VDM Metals GmbH. The sale was based on an enterprise value of EUR 596 million. Gleiss Lutz provided Lindsay Goldberg with extensive legal advice on this matter. Closing of the transaction is still subject to approval by the merger control authorities and is slated for the second half of 2018.
Based in Werdohl, North Rhine-Westphalia, VDM Metals has a global workforce of approx. 2,000 employees and generates annual sales of over EUR 1 billion. The company is a leading provider of corrosion and heat resistant, high-temperature nickel alloys, cobalt and zirconium alloys as well as high-alloy special stainless steels for use in highly corrosive environments – from aviation to chemical engineering, in the oil and gas sector, power generation as well as in car manufacturing, electronics and electrical engineering.
Lindsay Goldberg is a U.S. private equity fund that manages approx. USD 10 billion in assets and specializes in partnerships with families, founders and long-term oriented management teams wishing to actively expand their business. In Europe, Lindsay Goldberg is represented by Lindsay Goldberg Vogel GmbH, Düsseldorf. Gleiss Lutz regularly advises Lindsay Goldberg and its portfolio companies in connection with transactions, acquisition financing und refinancing. Gleiss Lutz already advised Lindsay Goldberg comprehensively on its acquisition of the VDM Metals Group from ThyssenKrupp in the summer of 2015.
Lindsay Goldberg was advised by the following team of Gleiss Lutz lawyers: Dr. Fred Wendt, Dr. Urszula Nartowska (both lead, partners, corporate/M&A, Hamburg), Dr. Stefan Lingemann (partner, employment, Berlin/Hamburg), Dr. Jacob von Andreae (partner, public law, Düsseldorf), Dr. Johann Wagner (partner, tax, Hamburg) Iris Benedikt-Buckenleib (counsel, competition/antitrust, Munich), Dr. Marc Ruttloff (counsel, public law, Stuttgart), Christian Zimmermann, Marianne Milovanov (both corporate/M&A, both Hamburg), Dr. Jonas Rybarz (corporate/M&A, Berlin), Dr Jan-Alexander Lange (finance, Frankfurt), Josefine Chakrabarti (employment), Dr. Daniel Görlich, Dr. Lars Kindler (both public law, all Berlin), Kathrin Haag (competition/antitrust, Munich), Kevin Grimmeiß (public law, Düsseldorf), Dr. Matthias Schilde (IP, Berlin).