International law firm Clifford Chance has advised FläktGroup, a portfolio company of Triton and market leader for ventilation solutions, on the sale of DELBAG, a specialist for air filtration, to Hengst SE. A corresponding contract was signed on 22 August 2018. The parties have agreed not to disclose the purchase price.
FläktGroup was formed in 2016 by the merger of FläktWoods with the portfolio company DencoHappel. We advised Triton on both the acquisition of FläktWoods and the subsequent merger with DencoHappel.
Today, FläktGroup is the European market leader for intelligent and energy-efficient solutions for indoor air and critical air functions that support all areas of application. Based in Herne, Germany, the group generated total sales of around € 700 million in 2017 and employs around 3,600 people at a total of 14 production sites and more than 50 agencies in Europe, Russia, the Middle East, North America, South Korea, Singapore and India.
For FläktGroup, the transaction means a realignment of its portfolio and an even stronger focus on customer needs in its core segments.
DELBAG belongs to FläktGroup and is one of the oldest air filtration companies and best known brands in this business field. With around 150 employees in Germany, France, the Czech Republic, Poland and Austria, the company generated sales of € 30 million in 2017.
The Clifford Chance team consisted of partner Anselm Raddatz (Düsseldorf/Frankfurt), counsel Robert John, associate Daniel Gutmann (both Corporate/Private Equity, Frankfurt), senior associate Katharina Franitza (Corporate/Private Equity, Düsseldorf), partner Stefan Simon and senior associate Christopher Fischer (both Employment, Frankfurt) as well as associates Raphaël Durand and Aïcha Ahardane (both Corporate, Paris), Tomáš Procházka (Corporate, Prague) and Łukasz Mamiński (Corporate/Antitrust, Warsaw).
Jonathon Milne, London (Inhouse Legal M&A) advised Triton and Meik Engel (Chief Legal Officer) worked for FläktGroup.
Christoph Hirschmann, a lawyer in Düsseldorf, advised on questions of commercial contracts (TSAs).
The original press release can be found here on Clifford Chance’s website.