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GSK advises American Investor in Purchasing the German-American Automobile Supplier Henniges

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At the end of 2010, the private equity investor Littlejohn & Co. LLC from Connecticut acquired, with the support of an 18 strong team from GSK Stockmann + Kollegen, the automobile industry sealing system specialist Henniges Automotive Holdings Inc. There is an agreement not to disclose the purchase price. 

Originally a German from the Hannover region, Henniges Automotive Holdings was first taken over in 2007 by the American private equity investor Wynnchurch Capital Partners. The enterprise has 4500 employees worldwide, and 12 German subsidiaries. It maintains a production and administrative location in Lower Saxony and there are roughly 500 employees in Germany. Additional production facilities are located in the USA, Mexico and China. 

Wynnchurch Capital Partners has now sold a large proportion of its shares to Littlejohn & Co. LLC, but remains active as a minority shareholder.

GSK Stockmann + Kollegen advised Littlejohn & Co. LLC during the due diligence process, with respect to the German locations of Henniges. GSK provided extensive advice particularly on matters of company, real estate, labour and IP/IT law. It was also necessary to take into account the fact that five of the German subsidiaries had been declared insolvent. Furthermore, together with the American law firm Pepper Hamilton LLP, GSK worked on the purchase contract and supervised the approval of the transaction by the German Federal Cartel Office (Bundeskartellamt). Pepper Hamilton and GSK cooperate regularly with cross-border clients between the USA and Germany. 

“It gave us great pleasure to support Littlejohn in this complex transaction and to put two of our core competences to the test, namely company and real estate law”, says Dr. Andreas Bauer, the partner in charge at GSK.   

Legal adviser to Littlejohn & Co. LLC:
GSK Stockmann + Kollegen: Dr. Andreas F. Bauer, LL.M. (Corporate - project ma-nagement), Andreas Dimmling, Dr. Tilman Durchlaub, Sebastian Walczak, LL.M., Nadège Reyhn, LL.M., Dr. Michela Pastorelli (all Corporate, Munich); Patrizio Caruso (Corporate, Duesseldorf); Dr. Bernhard Laas, David Quick (Real Estate), Martin Höfler (Public Law) (all Munich); Dr. Dirk Koch (Tax, Stuttgart); Wolfgang Jegodka, LL.M. (Competition/Antitrust), Dr. Jörg Alshut, Sylvia Lorenz (IT/IP), Dr. Manteo Eisenlohr, Annette Mohs (Employment) (all Berlin).

The full text of the deal news can also be downloaded here.