On 13 December, US private equity investor One Equity Partners (OEP) announced the execution of an agreement for the purchase of the global peroxide business of FMC Corporation. The combined share and asset deal provides for the acquisition by OEP of companies and sites in various countries around the world, including in Germany. The transaction volume is approx. USD 200 million. Closing of the transaction is still subject to antitrust clearance.
OEP is the private equity arm of JPMorgan Chase & Co. and currently manages an investment portfolio of approximately USD 14 billion.
FMC Corporation is a US chemicals company based in Philadelphia that produces chemicals for agricultural, industrial, environmental engineering and consumer uses. In 2012 FMC generated approx. USD 3.4 billion in sales. The company has a global workforce of about 6.000 employees.
Gleiss Lutz advised OEP together with Simpson Thacher Bartlett, focussing in particular on the German aspects of the transaction.
Gleiss Lutz’s team comprised Dr. Jan Bauer (partner, lead), Jan Philipp Mohr, Isabell Fricke, Joon Hyug Chung (all corporate/M&A, Frankfurt), Dr. Rüdiger Schmidt-Bendun (corporate/M&A, Düsseldorf), Dr. Stefan Mayer (partner, tax, Frankfurt), Dr. Johannes Niewerth (partner), Fabian Kutz (both real estate, Berlin), Dr. Matthias Sonntag (partner), Dr. Benedikt Burger (both IP, Düsseldorf), Dr. Thomas Winzer (partner), Tobias Abend (both employment, Frankfurt), Dr. Roland Hartmannsberger (counsel, environmental, Stuttgart).
Gleiss Lutz had already advised OEP on previous deals, including in 2010 on the restructuring of the Schoeller Arca Systems Group and in 2012 on the proposed acquisition of E.ON subsidiary E.ON Energy from Waste.
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