US-American Techniplas Group, which mainly supplies North American automotive producers with plastic components, has acquired the automotive and industry technology division of Swiss Weidmann International Corporation (WICOR Holding AG). With the execution of this transaction, an important supplier for the automotive industry is formed with a total turnover of half a billion Swiss Francs (approx. 400,000,000 EUR) and a market presence in Europe, North and South America, Africa and Asia. The parties agreed to keep silence on the transaction volume.
GvW Graf von Westphalen advised Techniplas Group on its acquisition of the Weidmann Plastic Technology division from the WICOR Group with an international team of lawyers from renowned and mainly independent law firms in Brazil, China, Luxembourg, Switzerland, Spain, South Africa and the USA.
WICOR Holding AG with its headquarters in Rapperswil-Jona (Switzerland) has more than 30 locations worldwide and approx. 3,800 employees. In addition to the division Weidmann Plastics Technology which was sold to Techniplas Group with the exception of the medical engineering line of business, the holding is also known as a worldwide developer and producer of insolation material for transformers.
The Techniplas Group is a US-American producer of plastic components for the automotive industry. The privately run company headquartered in Nashotah/Wisconsin is a worldwide supplier with production sites in North and South America, Europe and Asia.
GvW advised the Techniplas Group with Hamburg-based partners Dr Dominik Ziegenhahn (lead lawyer), Dr Ritesh Rajani (both Corporate/M&A), Dr Malte Evers (Labour Law), Christian Esch (Private Construction Law) and Dr Sigrid Wienhues (Environment and Planning Law) as well as associates Dr Christian Triebe (IP), Jan Bela Hermann, Jana Hollstein, Dr Maren Mönchmeyer (all Corporate/M&A), Marius Bodenstedt (Labour Law), Corinna Lindau (Environment and Planning Law) and Philipp Scheel (State Aid and Subsidies Law).
GvW Graf von Westphalen advised the transmission system operator 50Hertz on the award of a major contract for the North Sea Connector 2 offshore grid connection project. The project involves the planning, construction, installation and commissioning of a converter system comprising an offshore converter platform in the North Sea and an onshore converter station in Mecklenburg-Western Pomerania. The North Sea Connector 2 project is intended to connect offshore wind farms in the North Sea to the German electricity grid in future.
GvW Graf von Westphalen has advised Primepulse and Vsquared Ventures on the Series C financing round of NEURA Robotics GmbH. The transaction ranks among the largest venture financing rounds in the European startup ecosystem to date.
GvW Graf von Westphalen has advised Ethereal Space, Inc., a pioneering commercial space company, on space and satellite law matters and the establishment of its affiliate Ethereal Space GmbH.
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