ZHG Zangen Holding acquires Novopress from DBAG and others
Frankfurt a. Main — Shearman & Sterling has acquired the Joh. Berenberg, Gossler KG (“Berenberg”) on the financing of the acquisition of Novopress KG by ZHG Zangen Holding GmbH. One of the sellers was Deutsche Beteiligungs AG. The parties have agreed not to disclose details of the transaction.
Novopress, founded in 1969 and headquartered in Neuss, Germany, is a leading manufacturer of electromechanical pressing tools used by heating and plumbing contractors to join copper, stainless steel or plastic pipes. The pressing technique is technologically and cost-wise superior to other pipe joining techniques such as welding or bolting. Through continued high investment in research and equipment development, Novopress has succeeded in achieving a technologically leading market position and continuously expanding it.
With its Wealth and Asset Management, Investment Banking and Corporate Banking divisions, Berenberg is one of Europe’s leading private banks. From its headquarters in Hamburg, Berenberg has built up a strong presence in the financial centers of Frankfurt, London and New York in recent years and is represented by around 1,600 employees in 15 locations in Europe and America.
The Shearman & Sterling team included partner Winfried M. Carli and associates Andreas Breu and Martina Buller (all Germany-Finance).
About Shearman & Sterling:
Shearman & Sterling is an international law firm with 23 offices in 14 countries and approximately 850 lawyers. In Germany, Shearman & Sterling is represented at the Frankfurt office. The firm is one of the international market leaders in advising on complex cross-border transactions. Worldwide, Shearman & Sterling primarily advises international corporations and large national companies, financial institutions, and large mid-sized companies. For more information, visit www.shearman.com.