Thai Acrylic Fibre Co. Ltd. (TAF), a subsidiary of the Indian Aditya Birla Group, has acquired PyroTex Industries GmbH. The M&A advisors of Proventis Partners and the law firm of GvW Graf von Westphalen have advised the founder of the textile company in this sale.
PyroTex Industries GmbH produces and distributes a self-developed and inherently flame and heat resistant fibre on the basis of acrylonitrile for product applications, such as personal protective wear, public transport and object textiles. The company with its seat in Hamburg is an ideal addition to the existing TAF product portfolio but will continue to operate self-dependently.
Thai Acrylic Fibre Co. (Bangkok) is one of the largest global acrylic fibre manufacturers. Its products are sold in more than 40 countries. With a turnover of USD 41m, the Aditya Birla Company group of which TAF is a part is one of the three highest selling companies in India. The company has more than 120,000 employees from 42 different countries in the areas of chemicals, textiles, paper processing, financial services, telecommunication and retail.
Under the lead of the Hamburg partner and Head of India Desk Dr. Ritesh Rajani, GvW has advised on this transaction with a team consisting of Christian Mayer-Gießen, Laurens Klinkert (all Corporate/M&A), Dr. Malte Evers, Marius Bodenstedt (Employment), Dr. Joachim Mulch, Dr. Christian Triebe (IP), Dr. Patrick Wolff (Finance) and Marian Niestedt (Foreign Trade).
The India Desk of GvW regularly advises Indian companies on their market entry and their business activities in Germany. At the same time, the GvW attorneys of our India Desk also regularly advise German and international companies seeking to expand in India. GvW collaborates with a network of renowned Indian law firms (see for example GvW’s advice to Evonik in its expansion in India, more).