Sekisui Plastics acquires majority stake in Proseat with support of ARQIS

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ARQIS has advised Sekisui Plastics Europe GmbH, Munich, on the acquisition of a 75 percent share of Proseat GmbH & Co. KG, Mörfelden-Walldorf/Germany, and seven other Proseat companies, from Belgian Recticel NV/SA.

Proseat was established in 1999 as a joint venture between Recticel and Canadian partner Woodbridge Foam Corporation to serve Tier 1 and OEM car manufacturers with molded seat pads and head and armrests in polyurethane. Proseat Group is composed of eight companies in six European countries (Germany, Czech Republic, France, Poland, Spain, and United Kingdom,) and is building on leading position as Europe’s largest independent automotive parts manufacturer (seat-use cushion material, trim parts such as headrests and armrests, and foamed molding) to European automobile companies. The automobile industry is undergoing a major transformation as represented by self-driving cars and new energy vehicles. With regard to automotive parts, the need for materials that contribute to a reduced environmental burden, such as weight reduction and thermal insulation, is increasing.

The advisory services of ARQIS included assistance in the legal due diligence in a total of seven jurisdictions, structural advice as well as contract drafting and negotiations. In the process, ARQIS has lead an international and multidisciplinary team consisting of Cuatrecasas (Spain), Dentons (Czech Republic, Poland),  Gide (France), NautaDutilh (Belgium) and RPC (UK) as well as Held Jaguttis (Public & Environmental Law/Regulator) and RCAA (Antitrust)

Advisors to Sekisui Plastics:

ARQIS Rechtsanwälte (Düsseldorf/Munich): Prof. Dr. Christoph von Einem, Dr. Shigeo Yamaguchi (both Lead); Eberhard Hafermalz, Dr. Meiko Dillmann, Dr. Lars Laeger (all Corporate/M&A), Dr. Andrea Panzer-Heemeier (Labour 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 (both Corporate/M&A), Dr. Hendrik von Mellenthin, Dr. Markus Schwipper (Munich), (both Labour Law), Jennifer Huschauer (Real Estate).

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