Paul Hastings LLP advised Hansol Paper Co., Ltd. on the deal
Iconex™, the leading low-cost manufacturer of receipt and differentiated label solutions, announced today the signing of a definitive agreement to acquire Schades and R+S from Hansol Paper. As a result of this transaction, Iconex, already the market leader in North America, will become the European market leader as well.
Schades, headquartered in Skive, Denmark, converts thermal paper for its customers, including receipt paper rolls for cash registers and self-adhesive labels. It enjoys a market-leading position in Europe with a unique customer base including retail, office stationery, distributors in food and non-food retail, and logistics. Headquartered in Sarstedt, Germany, R+S converts and markets thermal paper for receipts, coupon and ticket applications as well as labels.
Both companies are being brought into Iconex to form one integrated European company possessing unparalleled industry and regional knowledge, expertise and capabilities that will benefit customers, employees, and suppliers. With the integration of Schades and R+S significantly expanding the company’s geographic presence in Europe, Iconex will now have employees spanning across 14 locations in seven countries on three continents.
Closing is expected to take place in the fourth quarter of this year. Terms of the transaction were not disclosed.
The Paul Hastings team was led by Frankfurt partner Regina Engelstädter (Picture) and Seoul partner Daniel Sae-Chin Kim, with support in Frankfurt from corporate associates Sebastian Klein and Sebastian Ens, tax advisor Uwe Halbig, and real estate associate Jan Hueniken; in London from employment partner Suzanne Horne and corporate associate Catherine Kennedy; and in Paris from corporate partner Sébastien Crepy and associate Ted Dimvula, and employment partner Stéphane Henry and associate Alexandre Ruiz.
Involved fees earner: Sebastien Crepy – Paul Hastings; Ted Dimvula – Paul Hastings; Regina Engelstädter – Paul Hastings; Sebastian Ens – Paul Hastings; Uwe Halbig – Paul Hastings; Stéphane Henry – Paul Hastings; Suzanne Horne – Paul Hastings; Jan Hueniken – Paul Hastings; Catherine Kennedy – Paul Hastings; Sebastian Klein – Paul Hastings; Alexandre Ruiz – Paul Hastings; Daniel Sae-Chin Kim – Paul Hastings;
Law Firms: Paul Hastings;
Clients: Hansol Paper Co., Ltd.;