Gleiss Lutz advises the Otto Bock Group on the sale of its foam business to Conzzeta
Gleiss Lutz advised the Otto Bock Group, domiciled in Duderstadt, on the sale of its foam business to the listed Swiss company Conzzeta AG. The transaction is expected to be completed in the second half of 2017 and is still subject to merger control clearance and further customary closing conditions.
The parties have agreed to keep the purchase price and the other details of the sale confidential. Otto Bock is a global market leader in orthotics and prosthetics. The Group’s foam division that has now been sold to Conzzeta had around 430 employees worldwide at the end of 2016 and generated net sales of approximately EUR 130 million in the 2016 financial year. It mainly produces foams for the automotive industry.
Gleiss Lutz advised Otto Bock comprehensively on the transaction in close cooperation with the latter’s legal department.
In-house, Otto Bock was assisted by Dr. Edgar Matyschok and Dr. Sebastian Pfaff.
The following Gleiss Lutz team was involved in the transaction: Dr. Cornelius Götze (partner, lead), Alexander Krüger, Dr. Marcus Reischl (all corporate/M&A), Dr. Birgit Colbus (counsel), Dr. Alexander Fritzsche (both competition/antitrust), Dr. Bernhard Busch (partner, all Frankfurt), Dr. Marc Ruttloff (Berlin, both public law), Dr. Benedikt Burger (IP, Düsseldorf), Dr. Tobias Boecken (partner), Franz-Ulrich Kremer (both real estate, both Berlin).