Milbank Advises Financial Investor on Secondary Sale of Siteco
Munich, 24 July 2007 – Siteco Group is to be sold by JP Morgan Partners, LLC to financial investor Barclays Private Equity. The transaction was carried out by CCMP Capital Advisors, LLC (CCMP), which manages investments made by JP Morgan Partners. The international law firm Milbank, Tweed, Hadley & McCloy LLP advised CCMP on all corporate, tax law and financing matters of the transaction. The deal volume has not been disclosed by the parties involved. The completion of the takeover is subject to approval by the antitrust authorities but is expected for the third quarter.
Siteco Group is a leading European manufacturer and provider of technical indoor and outdoor lighting solutions in the premium and medium product segment. The Group currently employs 1.500 employees worldwide, about 900 of them working in Germany.
The Milbank team representing CCMP included Peter Nussbaum (partner, lead) and Ludger Schult, both corporate/M&A, Munich, Rolf Fueger (partner, Munich) and Russell Kestenbaum (New York), both tax, and Rainer Magold (partner) and Simone Jorden, both acquisition finance, Frankfurt.
Back in 2002, Munich-based Milbank partners Fueger and Nussbaum advised JP Morgan Partners on its acquisition of Siteco, as well as recently on its sale of Klöckner Pentaplast to financial investor Blackstone.
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a preeminent global law firm that for more than 140 years has provided innovative legal solutions in many of the world’s largest, most complex, “first-ever” corporate transactions and litigation. Our transactional expertise includes capital markets, corporate finance and transactions, project finance, acquisition finance, and other major fields of law practice. Milbank litigation teams resolve disputes involving mergers and acquisitions, proxy battles, financings and securities offerings, intellectual property, white collar crime, and corporate restructurings, among others. Our clients range from prominent multinational financial, industrial and commercial enterprises to governments, institutions and individuals. The Firm is headquartered in New York, Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, Singapore, Tokyo, and Washington, DC.
Milbank set up its first European office in London in 1979. The firm’s German offices were opened in Frankfurt in 2001 and in Munich in 2004. Milbank’s European presence has more than doubled in the last two years with growing practices in capital markets, corporate, finance, private equity, outsourcing and litigation. By combining the skill and experience of the lawyers in Milbank's German offices with that of the finance, corporate and tax lawyers based in other Milbank offices, in particular London and New York, Milbank Germany offers its clients fully integrated legal advice at the highest level in these core areas under German, English and US law.