Gleiss Lutz, Herbert Smith and Stibbe advise Nisshinbo Holdings on the acquisition of TMD Friction

Gleiss Lutz and its Alliance partners Herbert Smith and Stibbe advised Nisshinbo Holdings Inc. on the acquisition of the TMD Friction Group from the financial investor Pamplona Capital. The purchase price amounts to EUR 440 million net of assumed liabilities.

The TMD Friction Group, with head office in Leverkusen, employs approximately 4,800 people worldwide and has 13 production sites on four continents as well as research and development centres in Germany, the USA and Brazil. Nisshinbo Holdings is a listed Japanese conglomerate that is active across the globe in areas ranging from automobile brakes, mechatronics and electronics to textiles. The acquisition of TMD Friction by Nisshinbo will create one of the world’s largest manufacturers of brake pads for the automobile industry with revenues in excess of EUR 1 billion and with more than 6,000 employees worldwide. The transaction is still subject to approval by the competition authorities.

Gleiss Lutz and the Japanese firm Mori Hamada & Matsumoto were the lead advisers of Nisshinbo Holdings Inc. Herbert Smith advised on English and French law and Stibbe on Luxembourg law.

The Gleiss Lutz team consisted of: Dr. Fred Wendt (partner, corporate/M&A, Hamburg), Dr. Michael Burian (partner, corporate/M&A, Stuttgart, both lead), Urszula Nartowska (corporate/M&A, Berlin/Hamburg), Christian Mencke (corporate/M&A, Hamburg), Dr. Ulrich Soltész (partner), Philipp Melcher, Jens Werner (all antitrust, Brussels), Dr. Charlotte Beck, Dr. Rut Groneberg (both employment, Berlin), Dr. Michael Marquardt (partner, tax, Frankfurt), Dr. Johann Wagner (tax, Hamburg), Dr. Alexander Molle, Barbara Klüßendorf (both IP/IT, Berlin), Dr. Andreas Neun (partner), Dr. Stefan Geiger (both administrative, Berlin), Renata Noglik (finance, Frankfurt) and Fabian Kutz (real estate, Berlin).

Herbert Smith was represented by, among others, Gavin Davies, Gillian Fairfield (both London) and Bruno Basuyaux (Paris). Stibbe was represented by Dirk Leermakers (Luxembourg).