Sekisui Plastics acquires majority stake in Proseat
Munich — ARQIS advised Sekisui Plastics Europe GmbH, Munich, on the acquisition of a 75 percent stake in Proseat GmbH & Co KG, Mörfelden-Walldorf, and seven other Proseat companies from Recticel NV/SA, Belgium.
Proseat was founded in 1999 as a joint venture between Recticel and its Canadian partner Woodbridge Foam Corporation. The company supplies direct suppliers (Tier 1) and original equipment manufacturers (OEM) in the automotive industry with molded seat cushions and head and armrests made of polyurethane. The Proseat Group consists of eight companies in six European countries (Germany, France, Great Britain, Poland, Spain and the Czech Republic). It occupies a leading position as Europe’s largest independent manufacturer of parts (seat upholstery material, trim parts such as headrests and armrests, and foamed molded parts) for European automotive companies. The automotive industry is currently undergoing significant change, characterized by self-driving cars and electric vehicles. In automotive parts, there is a growing need for materials that help reduce environmental impact, such as weight reduction and thermal insulation.
ARQIS’ advisory services included assistance with legal due diligence in a total of seven jurisdictions, structuring, and contract drafting and negotiation. ARQIS led an international and multidisciplinary legal team consisting of Cuatrecasas (Spain), Dentons (Czech Republic, Poland), Gide (France), NautaDutilh (Belgium) and RPC (UK), as well as Held Jaguttis (Public Commercial Law/Regulatory) and RCAA (Antitrust).
Advisors to Sekisui Plastics: ARQIS Rechtsanwälte (Düsseldorf/Munich)
Prof. Dr. Christoph von Einem (photo), Dr. Shigeo Yamaguchi (both lead); Eberhard Hafermalz, Dr. Meiko Dillmann, Dr. Lars Laeger (all Corporate/M&A), Dr. Andrea Panzer-Heemeier (Labor Law), Dr. Ulrich Lienhard (Real Estate), Marcus Nothhelfer (IP & Commercial; Munich), Dr. Mirjam Boche (W&I Insurance). Counsel: Dr. Philipp Maier (IP & Commercial; Munich). Associates: Mauritz von Einem (Lead Associate; Corporate/M&A/Tax), Dr. Florian Kotman, Elisabeth Falterer (Munich) (both Corporate/M&A), Dr. Hendrik von Mellenthin, Dr. Markus Schwipper (Munich) (both Labor Law), Jennifer Danisch (Real Estate).
ARQIS is an independent business law firm operating in Germany and Japan. The firm was founded in 2006 at its current offices in Düsseldorf, Munich and Tokyo. Around 45 professionals advise domestic and foreign companies at the highest level on the core issues of German and Japanese business law. The focus is on M&A, corporate law, private equity, venture capital, employment law, private clients, intellectual property, litigation as well as real estate law and tax law.