A Gleiss Lutz team has advised US private equity investor American Industrial Partners (AIP) on all aspects of German law in connection with its acquisition of the Personal Care business of Domtar Corporation. The deal volume (enterprise value) is USD 920 million. The transaction is subject to receipt of regulatory approvals and other customary closing conditions and is expected to close by the end of the first quarter 2021.
Domtar is a leading provider of a wide variety of fibre-based products including communication, speciality and packaging papers, market pulp and absorbent hygiene products. With its workforce of roughly 8,800 employees in more than 50 countries worldwide, Domtar most recently generated an annual turnover of around USD 5.2 billion. The common shares of the company are traded on the stock markets of New York and Toronto. Domtar’s headquarters are located in Fort Mill, South Carolina, U.S.
AIP is an operationally-oriented middle market private equity firm that is distinctively focused on buying and improving industrial businesses with operations in the United States or Canada. The AIP team has deep roots in the industrial economy and has been active in private equity investing since 1989. AIP has completed over 100 platform and add-on acquisitions and invests in all forms of corporate divestitures, management buyouts, recapitalizations, and going-private transactions of established businesses with revenues of USD 300 million to over USD 1 billion.
Ropes & Gray LLP advised as lead counsel on the transaction.
The following Gleiss Lutz team led by Dr. Jan Balssen (partner, Munich), Dr. Christian Cascante (partner, Frankfurt, both lead) and Dr. Michael Ilter (Frankfurt) advised AIP on the transaction: Andrej Popp (Frankfurt, all Private Equity/M&A), Dr. Simon Wagner (counsel, Commercial/Litigation, Stuttgart), Dr. Marco König (partner), Dr. Jürgen Junge (both Stuttgart), Dr. Enno Burk (counsel), Dr. Christina Fröb (both Berlin, all Health Care/Public Law), Dr. Doris-Maria Schuster (partner, Hamburg), Dr. Hauke Darius Wolf (Frankfurt, both Employment), Dr. Jacob von Andreae (partner), Aylin Hoffs (both foreign trade law, Düsseldorf), Dr. Alexander Molle (partner), Dr. Felix Müller (both IP/IT, Berlin), Michael Neher (Real Estate, Frankfurt).