On April 7, 2009, Bosch Thermotechnik GmbH acquired all shares in Loos Deutschland GmbH including its subsidiaries and shareholdings outside Germany. The transaction is subject to approval by the antitrust authorities. The parties agreed not to disclose the purchase price.
Loos is a leading European supplier of highly efficient steam and hot-water boilers in the commercial and industrial sector and, with around 600 employees, generated sales of approx. EUR 130 million in fiscal 2008. Bosch Thermotechnik GmbH forms the thermotechnology division of the Bosch Group and, with its international subsidiaries, is a leading European manufacturer of resource-conserving heating systems and hot-water solutions. In fiscal 2008, Bosch Thermotechnik generated sales of approx. EUR 3 billion with its some 13,000 employees. The acquisition of Loos will make Bosch Thermotechnik a leading supplier of commercial and industrial boilers in Europe.
The primary advisors from Bosch’s legal department were Heribert Peters and Dr. Ulrich Zeller.
Bosch Thermotechnik was advised on the transaction by Gleiss Lutz. The core team was made up of Prof. Dr. Gerhard Wegen (partner) and Dr. Jochen Tyrolt (both lead) as well as Dr. Martin Viciano Gofferje, Dr. Adrian Bingel (all corporate/M&A, Stuttgart), Dr. Matthias Karl (partner, antitrust, Stuttgart) and Dr. Alexander Werder (tax, Stuttgart)
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