King & Wood Mallesons (KWM) has advised a fund managed by PINOVA Capital GmbH (PINOVA Capital) as well as further shareholders on the sale of all shares in Deurowood Holding GmbH (Deurowood) and Deurowood Produktions GmbH to Freudenberg Chemical Specialities Munich GmbH (FCS).
Deurowood, founded in 2003 and headquartered in Hard, Austria, is a globally leading full-range supplier in the area of innovative and safe-to-use chemical additives for paper impregnation and the production of laminates. The company develops, manufactures and sells catalysts, functional additives, pigment dispersions and other special products for the impregnation of paper, production of laminates and wood composites.
FCS, headquartered in Munich, Germany, develops, manufactures and distributes chemical specialities. FCS is one of the global leading manufacturers of specialty lubricants, release agents, chemotechnical maintenance products, and solutions for surface and galvanic technologies as well as polishing agents, glazes and release agents for the food-processing industry. With the acquisition of Deurowood, FCS continues its acquisition strategy and expands its existing business with the paper and wood-based materials industry.
Deurowood will be integrated into the FCS Group and will thus have the opportunity to build on its success story and to develop further in cooperation with FCS. Deurowood will continue to be responsible for the operational management of its business by the responsible management. The company headquarters will remain in Hard.
PINOVA Capital is an independent private equity firm investing in high-growth technology companies in German-speaking regions. PINOVA Capital focuses on “Mittelstand” companies with sales between €10 million and €75 million in the sectors industrial technology and information technology, characterized by significant growth potential, sustainable competitive advantages and a strong market position in their niche.
The KWM team was supported by Dr. Bernhard Rieder and Lukas Herrmann (both DORDA Rechtsanwälte) with regard to legal aspects under Austrian law.
Advisors to PINOVA Capital GmbH:
Markus Herz (Partner), Lorenz Liebsch (Associate), Simon Brandt (PSL) (all Corporate/M&A)