Private Equity Funds Acquire H.C. Starck Group
Milbank Advises The Carlyle Group and Advent International
Frankfurt/Munich, 29 November 2006 – Advent International and The Carlyle Group have jointly acquired the H.C. Starck Group from Bayer AG for approximately €1.2 billion. The international law firm Milbank, Tweed, Hadley & McCloy LLP announced that it advised Advent and The Carlyle Group on all aspects of the tax structure and financing of the transaction. H.C. Starck, headquartered in Goslar/Northern Germany, manufactures metal and ceramic powders, specialty chemicals, and parts made from advanced ceramics and refractory metals. The transaction is subject to review by the antitrust authorities. The debt financing was arranged by Dresdner Bank (Global Coordinator) and Commerzbank as well as the Japanese bank Mizuho.
The Milbank team included Rolf Füger (partner, Tax Munich), associate Thomas Kleinheisterkamp (Tax Munich), Rainer Magold (partner, Finance Frankfurt) and the associates Thomas Ingenhoven, Stephan Dulitz und Maximilian Schneider (all Finance Frankfurt).
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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, with offices in Los Angeles, Washington, DC, London, Frankfurt, Munich, Tokyo, Hong Kong, Singapore and Beijing.
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.