Sekisui Plastics’ Acquisition of a majority stake in Proseat


ARQIS, Cuatrecasas, Dentons, Gide, NautaDutilh, RPC, Held Jaguttis, and RCAA advised on the deal

Sekisui Plastics Europe GmbH executed the acquisition of a 75% Stake in Proseat GmbH & Co. KG, Mörfelden-Walldorf/Germany, and seven other Proseat companies, from Belgian Recticel NV/SA.

Proseat was established in 1999 as a joint venture between Recticel and Canadian partner Woodbridge Foam Corporation to serve Tier 1 and OEM car manufacturers with molded seat pads and head and armrests in polyurethane. Proseat Group is composed of eight companies in six European countries (Germany, Czech Republic, France, Poland, Spain, and United Kingdom,) and is building on leading position as Europe’s largest independent automotive parts manufacturer (seat-use cushion material, trim parts such as headrests and armrests, and foamed molding) to European automobile companies. The automobile industry is undergoing a major transformation as represented by self-driving cars and new energy vehicles. With regard to automotive parts, the need for materials that contribute to a reduced environmental burden, such as weight reduction and thermal insulation, is increasing.

Sekisui Plastics Co., Ltd. manufactures foamed plastics and resin products which are primarily used for consumer electronics and foods. The company, led by Masato Kashiwabara, Tetsuji Hirota and Tetsuya Ikegaki in 2017 recorded $274 million revenues.

ARQIS advised Sekisui Plastics with Christoph von Einem (Picture), Shigeo Yamaguchi (both Lead); Eberhard Hafermalz, Meiko Dillmann, Lars Laeger (all Corporate/M&A), Andrea Panzer-Heemeier (Labour Law), Ulrich Lienhard (Real Estate), Marcus Nothhelfer (IP & Commercial; Munich), Mirjam Boche (W&I Insurance), Philipp Maier (IP & Commercial; Munich), Mauritz von Einem (Lead Associate; Corporate/M&A/Tax), Florian Kotman, Elisabeth Falterer (both Corporate/M&A), Hendrik von Mellenthin, Markus Schwipper (Munich), (both Labour Law) and Jennifer Danisch (Real Estate).

Involved fees earner: Mirjam Boche – Arqis; Jennifer Danisch – Arqis; Meiko Dillmann – Arqis; Elisabeth Falterer – Arqis; Eberhard Hafermalz – Arqis; Florian Kotman – Arqis; Lars Laeger – Arqis; Ulrich Lienhard – Arqis; Philipp Maier – Arqis; Marcus Nothhelfer – Arqis; Andrea Panzer-Heemeier – Arqis; Markus Schwipper – Arqis; Christoph von Einem – Arqis; Mauritz von Einem – Arqis; Hendrik von Mellenthin – Arqis; Shigeo Yamaguchi – Arqis;

Law Firms: Arqis;

Clients: Sekisui Plastics co.;