The share­hol­ders of Erwin Hymer Group SE and Thor Indus­tries, Inc. have announ­ced that they have ente­red into a defi­ni­tive agree­ment for the acqui­si­tion of Erwin Hymer Group by Thor for an enter­prise value of appro­xi­m­ately 2.1 billion euros. The purchase price is to be finan­ced by cash and equity. The equity payment will consist of appro­xi­m­ately 2.3 million shares of Thor. The Hymer family thus remains commit­ted to the indus­try. The merger crea­tes the world’s largest motor­home manu­fac­tu­rer with the leading posi­tion in North America and Europe and estab­lishes a global sales and produc­tion base for the company.

Henge­ler Muel­ler advi­sed Hymer both in connec­tion with the sale and in prepa­ra­tion of an IPO (dual track).

The sale was advi­sed by part­ners Prof. Dr. Hans-Jörg Ziegen­hain and Dr. Daniel Möritz (both lead, M&A, Munich), Dr. Markus Röhrig (antitrust/merger control, Brussels), Dr. Matthias Schei­fele (tax, Munich), Prof. Dr. Dirk Uwer (public commer­cial law, Düssel­dorf), Dr. Daniel Weiß (finan­cing, Frank­furt), coun­sel Dr. Gunther Wagner (tax, Munich), Peter Dampf (finan­cing, Frank­furt) and Dr. Andrea Schlaffge (Intellec­tual Property/IT, Düssel­dorf) as well as asso­cia­tes Dr. Jakub Lorys, Dr. Johan­nes Baumann, Dr. Aris Miro Mari­nello, Dr. Thomas Daniel Weie­rer, Dr. Florian Alex­an­der Dendl (all M&A, Munich), Dr. Sebas­tian Adam (Tax), Dr. Alex­an­der Wellerdt (Finan­cing) (both Frank­furt), Dr. Deniz Tschamm­ler (Public Commer­cial Law, Berlin), Anja Balitzki (Düssel­dorf) and Dr. Chris­tina Wolf (Brussels) (both Antitrust).

Part­ners Dr. Rein­hold Ernst (Frank­furt) and Dr. Simon Patrick Link (Munich) (both lead) and Coun­sel Ceci­lia Di Ció (Frank­furt) (all Capi­tal Markets) were invol­ved in the prepa­ra­tion of the IPO.

A team from the US law firm Cravath, Swaine & Moore (part­ners Mark I. Greene and Aaron M. Gruber) advi­sed on US law issues.