International law firm Freshfields Bruckhaus Deringer has advised Advent International, one of the leading global private equity firms, on its acquisition of the coating resins business of Cytec Industries Inc., for $1.15 billion. The transaction, subject to regulatory approval and other customary closing conditions, is expected to be completed in the first quarter of 2013.
Cytec’s coating resins business is a market and technology leader with a broad product portfolio and generated approximately $1.6 billion of revenue in 2011. Headquartered in Brussels, Belgium, the group has operations throughout Europe, the United States, and Asia. Coating resins are critical components used in the manufacture of paints, coatings and inks.
The international Freshfields team acting for Advent was led by corporate partners Stephanie Hundertmark (Berlin), Matthew Herman and Doug Bacon (both New York) as well as associates Dominik Rompza (Berlin) and Paul Humphreys (New York).
The team also comprised Frank Röhling, Max Klasse (Berlin), Bruce McCulloch (Washington), (all competition), Marcus Wandrey, Kai Bonitz (Berlin), Libby O’Toole, Saswat Bohidar, Nick Bond (New York), Johannes Lutterotti (Vienna), Leonardo Graffi (Milan), Emilie van de Walle de Ghelcke (Brussels), Layla Lan (Shanghai), Nick Wall (Tokyo) (all corporate), Maximilian Uibeleisen, Michael Ramb (both environment, planning and regulatory, Berlin), Jochen Dieselhorst, Robert Auer (Hamburg), Nick Vogt, Tom Connors (New York) (all IP/IT), Boris Dzida, Roman Eschke (both employment, Hamburg), Henning Steen (real estate, Hamburg), Claude Stansbury (Washington) and Karen Kim (New York) (both tax).
Freshfields is known to be one of the most high profile legal advisers in the private equity industry and has advised Advent on major transactions, most recently the sale of Nukem Energy as well as the acquisition of Median, the largest German rehabilitation facility operator.
