Milbank Advises Financial Investors on Secondary Sale of HT Group
Frankfurt/Munich, 17 August 2007 – HT Luxembourg S.à r.l. (HT Group) has been sold by financial investors Advent International (Advent) and The Carlyle Group (Carlyle) to international investment firm Arcapita. The international law firm Milbank, Tweed, Hadley & McCloy LLP advised Advent and Carlyle 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.
HT Group, a global player in the plastics processing industry, is predominantly engaged in the development, manufacturing and marketing of PVC profiles for windows, doors, blinds and panels. One of HT Group’s affiliates, HT Troplast GmbH, headquartered in Troisdorf, Germany, has more than 3,700 employees worldwide and recorded revenue of more than EUR 800 million in 2006.
The Milbank team representing Advent and Carlyle included partners Norbert Rieger (lead, corporate/M&A, Frankfurt and Munich), Rolf Fueger (tax, Munich) and Rainer Magold (acquisition finance, Frankfurt), and associates Peter Memminger, Daniel Gubitz (both corporate/M&A, Frankfurt), Jan Wilms (acquisition finance, Frankfurt), Ludger Schult and Georg Lindner (both corporate/M&A, Munich).
Milbank partners Fueger and Rieger previously advised Carlyle on its acquisition of HT Troplast in 2004 as well as HT Troplast GmbH in its sale of two divisions, namely Dynos to Swiss financial investor M2 Capital Partners in August 2005 and Trocellen to The Furukawa Electric Co., Ltd. & Otsuka Chemical Co., Ltd. in September 2005.
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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.