Gleiss Lutz advises DMB Deutsche Mittelstand Beteiligungen on sale of WEGU to Zhongding
Anhui Zhongding Sealing Parts Co., Ltd. has acquired all shares in WEGU Holding GmbH, Kassel, through its Austrian subsidiary Zhongding Holding Europe GmbH. One of the sellers is the majority shareholder DMB 1. Invest GmbH & Co. KG, an investment company managed by DMB Deutsche Mittelstand Beteiligungen GmbH.
WEGU Holding GmbH has two business units and produces anti-vibration solutions and lightweight plastic systems for premium car manufacturers. With its sites in Kassel, Germany, and Pata, Slovakia, WEGU is one of the leading developers and manufacturers in the vibration damping and noise reduction sector.
The Zhongding Group generates over USD 1.3 billion in global sales and is listed on the Shanghai and Shenzhen stock exchanges. With the acquisition, Zhongding aims to expand its NVH (noise/vibration/harshness) activities by adding a development and manufacturing facility in Europe.
DMB Deutsche Mittelstand Beteiligungen GmbH is an investment company based in Hamburg that focuses on profitable SMEs in Germany, Austria and Switzerland. DMB initiates, structures and funds majority equity investments in private companies.
The share purchase agreement regarding the acquisition of WEGU Holding GmbH was concluded in January 2015 and the transaction has now been consummated.
DMB was advised by the following team of Gleiss Lutz lawyers led by Dr. Patrick Mossler (partner, corporate/M&A, Hamburg): Franziska Freiin von Hutten, Dr. Daniel Heck (both corporate/M&A, Hamburg), Dr. Philip Huperz (real estate, Berlin), Dr. Iris Benedikt-Buckenleib (antitrust, Munich), Dr. Matthias Werner (counsel), Dr. Björn Kalbfus (both IP, Munich).