DLA Piper advises KRAHN Chemie on acquisition of majority stakes in six companies from Jollis AB & Partners
DLA Piper has advised Hamburg-based KRAHN Chemie Group, which is part of the globally operating Otto Krahn Group, on the acquisition of majority stakes in six companies from Jollis AB & Partners. In order to bundle the new activities, KRAHN Nordics AB was founded, in which KRAHN Chemie holds the majority under participation of some of the previous owners of the acquired companies.
The acquired companies include Gothenburg-based AmphoChem AB, a leading Nordic distributor of industrial chemicals, additives as well as specialty chemicals, and Pemco Additives AB, another leading Nordic distributor active in the fuel, lubricants and petrochemical industries.
KRAHN Chemie also invested in Temper Technology AB, Gothenburg, which produces sustainable and energy-efficient heat transfer fluids and antifreeze products; BGM Logistics AB, Gothenburg, a provider of logistics solutions for warehousing, third-party logistics and distribution in Sweden; and Pemco-Trigueros Additives Spain S.L., Alicante, which covers the distribution of additives and base oils for use in fuels, industrial and automotive formulations in Spain.
In addition, KRAHN Chemie also acquired 100% of Petrico Ltd., an England-based entity whose previous indirect majority owner was Pemco Additives. The company has its headquarters in Sandbach, UK, and acts as a distributor of petroleum and chemical products specialized in the lubricants and additives industry.
With annual revenues of approximately EUR1.3 billion, the Otto Krahn Group has around 1,600 employees at 36 locations worldwide.
The Otto Krahn Group is a long-term client of DLA Piper. The firm, led by partner Sebastian Decker, has advised the Group on several transactions in recent years, most recently on the acquisition of shares in the Greek company InterActive S.A. and on the acquisition of eMBe by KRAHN Chemie, as well as on the acquisition of the WIPAG Group by ALBIS PLASTIC and its joint venture with William Barnet & Son in the USA.
“Sebastian Decker and his team are very prudent and thorough, yet pragmatic and responsive, even in complex transactions. Their collaborative teamwork within the DLA Piper team as well as with the client is outstanding and the team’s deep commercial expertise is particularly noteworthy,” said Axel Sebbesse, Chief Development Officer and Head of M&A at Otto Krahn Group.
DLA Piper's international team was led by partner Sebastian Decker and senior associate Sophie von Mandelsloh (both Corporate/M&A, Hamburg) and included partner Semin O, counsel Sergej Bräuer and associate Alexander Rösch (all Antitrust, Frankfurt). UK-based partners Andrew Davies (Corporate) and Jane Hannon (Employment) as well as associates Simon Winterburn (Corporate) and Charlotte Needham (Employment) also advised on the transaction. Other team members included: In Sweden partners Magnus Oskarsson (Corporate) and Björn Rustare (Employment), senior associate Kristina Stavne and associate Björn Torsteinsrud (both Corporate), and in Spain legal director Remei Sanchez and associate Maria Gutierrez (both Corporate).
The in-house team at Otto Krahn Group was led by Axel Sebbesse (Chief Development Officer and Head of M&A) and Fabian Maerz (Director Tax & Legal).