Clifford Chance
Clifford Chance advises Werhahn on the sustainable modernisation of its corporate portfolio through the acquisition of FiberLean Technologies
13 April 2021
Clifford Chance advises Werhahn on the sustainable modernisation of its corporate portfolio through the acquisition of FiberLean Technologies
Clifford Chance has advised Werhahn Group on the takeover of Fiberlean Technologies.
Founded in 2016 and previously based in Cornwall, UK, FiberLean Technologies is considered a pioneer in the commercial use of the sustainable composite microfibrillated cellulose (MFC). The company employs around 90 people in the UK and at four other production facilities in France, the USA and India, which were also party to the transaction.
FiberLean Technologies was previously owned by a joint venture between the listed French mining group Imerys SA and the Swiss industrial mineral company Omya International.
Established 175 years ago, Werhahn is a family-run company based in North-Rhine Westphalia, Germany, which has a total of 10,000 employees and an annual turnover of EUR 3.6 billion (2019). It focuses on three business areas: building materials (natural stone and slate), consumer goods (Zwilling, Jaguar Solingen, Tondeo) and financial services (abcfinance, Bank11, Yareto). Fiberlean Technologies Ltd. will remain a separate corporate unit within Werhahn Group and will be managed from North-Rhine Westphalia in future.
By acquiring FiberLean Technologies, Werhahn Group is modernising its corporate portfolio with sustainability in mind. MFC is a patented, stable composite which can be used and reused for many difference purposes. It is prepared using natural plant cellulose and minerals, and used in the paper/packaging industry and the construction industry, for example.
Christian Vogel, Corporate Partner at Clifford Chance in Dusseldorf, commented: "We are delighted to support a first-class German company such as Werhahn by offering our global expertise in respect of this groundbreaking transaction. MFC technology is fascinating in its sustainable use of resources."
The global Clifford Chance team advising Werhahn comprised partner Christian Vogel, together with counsel Simon Schmid and senior associate Ribana Piontek (all Corporate/M&A, Dusseldorf); partner Claudia Milbradt, together with counsel Florian Reiling and Ronny Amirsehhi (all Litigation/IP); partner Marc Besen, counsel Dimitri Slobodenjuk and senior associate Caroline Scholke (all Corporate/antitrust) (all Dusseldorf) and teams from Clifford Chance's offices in London, Paris and New York.
In-house legal advice was provided by Oliver Schouler and Sarah Dupont from Werhahn.
