01.08.2023
Binder Grösswang advised Semperit Aktiengesellschaft Holding on the acquisition of the Austrian RICO Group GmbH. The transaction comprised three Austrian-based companies and one subsidiary each in Switzerland and in the USA. The closing took place in Linz on July 31, 2023, after receipt of all approvals.
The RICO Group is a leading global manufacturer and full-range supplier in the areas of mold making and liquid silicone as well as for individual elastomer and plastic applications. In the 2022 financial year, the RICO Group generated sales of approx. EUR 90 million and employs more than 500 people in Austria, Switzerland and the USA. For Semperit, the acquisition of the RICO Group represents an important step in the implementation of its growth strategy focusing on a global leadership position as well as on innovation and technology. As a result, Semperit will not only increase its presence in the North American market, but also gain technology leadership in high-end tooling.
The Binder Grösswang team advised on all aspects of corporate and contract law, as well as on all aspects of tax law, intellectual property, financing law, real estate law, employment law, public law and with respect to merger control. The team led by Florian Khol and Christoph Schober (Corporate / M&A) included: Felix Fuith, Christopher Marchel, Sung-Hyek Hong (Corporate / M&A), Clemens Willvonseder, Larissa Wagner (Tax), Ivo Rungg, Hellmut Buchroithner, Florian Gruber, Florian Defrancesco, (IP / IT), David Rötzer, David Schneebauer (Banking & Finance), Markus Uitz, Alexander Kramer, Lisa Jost (Real Estate), Sabine Apfl-Trompeter, Magdalena Schachinger (Employment), Regina Kröll, Raphael Dorda (Regulatory), Christine Dietz, Christoph Raab, Stefanie Syrch (Merger Control).
Holland & Knight advised Semperit on US law and Walder Wyss acted as Swiss local counsel.
About Semperit Aktiengesellschaft Holding
Semperit AG Holding, a listed company, is an internationally focused group of companies that develops and manufactures rubber products in the industrial and medical sectors and sells them in over 100 countries worldwide: Hydraulic and industrial hoses, conveyor belts, escalator handrails, construction profiles, cable car rings, products for railroad superstructures and examination and surgical gloves. The headquarters of the traditional Austrian company, which has been in existence since 1824, is located in Vienna. The Semperit Group employs about 6,500 people worldwide in its continuing and discontinued operations, including about 3,100 in Asia and about 900 in Austria (Vienna and production site in Wimpassing, Lower Austria). The Group has 16 production sites worldwide and numerous sales offices in Europe, Asia, Australia and America. In fiscal year 2022, the Group generated sales of EUR 779.8 million and EBITDA of EUR 100.5 million with its continuing operations.
About the RICO Group
The RICO Group was founded almost 30 years ago in Thalheim near Wels. The company is a global market leader in tooling as well as in the production of precision liquid silicone parts and offers customized total solutions in high volumes. RICO Group covers the complete value chain in the field of liquid silicone - from prototype development to tool making and large-scale production (incl. clean room production).