Teijin Holdings Netherlands B.V.’s Acquisition Of Benet Automotive

Clifford Chance has advised Teijin Holdings Netherlands B.V. on the acquisition of Benet Automotive s.r.o., a Czech-based supplier of composite components to the automotive industry, from Jet Alfa, a.s.

The seller Jet Alfa, a.s. belongs to Jet Investment group and is a private equity investment company based in Brno, Czech Republic. Teijin is growing its automotive composites business with proprietary lightweight, high-performance materials, and superior design capabilities, to become a multi-material component supply partner of automotive OEM customers served by Teijin hubs in Europe, North America and Asia.

Benet has three facilities in the Czech Republic and one in Germany to serve European automotive OEMs including Volkswagen, Mercedes, BMW, Audi and Skoda. The company recorded sales of EUR 35.2 million (USD 40 million) in fiscal 2018.

Teijin (TSE: 3401) is a technology-driven global group offering advanced solutions in the areas of environmental value; safety, security and disaster mitigation; and demographic change and increased health consciousness. Its main fields of operation are high-performance fibers such as aramid, carbon fibers & composites, healthcare, films, resin & plastic processing, polyester fibers, products converting and IT.

The Clifford Chance core team advising on the transaction consisted of Prague office’s managing partner and head of the corporate practice Alex Cook (Picture), M&A counsel Michal Jašek and associate Veronika Kinclová. The core team was supported by colleagues from Clifford Chance Germany and other colleagues from the Prague office.

Involved fees earner: Alex Cook – Clifford Chance; Michal Jašek – Clifford Chance; Veronika Kinclová – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Teijin Limited;