Synthos’ USD491 Million Acquisition Of Synthetic Rubber Business From Trinseo

Clifford Chance has advised Trinseo on the deal. Debevoise advised Deutsche Bank as financial advisor to Trinseo, while White & Case advised Synthos on the deal.

Trinseo S.A., the US-listed global materials company and manufacturer of plastics, latex binders and synthetic rubber, sold its synthetic rubber business based in Schkopau, Germany, to Poland-based Synthos S.A. for an enterprise value of USD 491 million.

The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in 2022. The transaction includes the transfer of approximately 440 employees, mostly located in Schkopau, Germany, as well as the associated manufacturing and research and development facilities and related intellectual property.

With the transaction, Trinseo is pursuing a transformation strategy toward becoming a higher margin and less cyclical specialty materials and sustainable solutions provider, focussing on growth in Engineered Materials and CASE applications.

The Clifford Chance team advising Trinseo was led by partner Jörg Rhiel (Picture) and comprised associate Lara Stelmach, associate Michael Kümmel and counsel Moritz Petersen (all Corporate/M&A, Frankfurt); partner Markus Böhn with senior associate Amrei Fuder (Real Estate, Frankfurt); partner Stefan Simon (Employment, Frankfurt); partner Dimitri Slobodenjuk with senior associate Anne Filzmoser (both Antitrust, Düsseldorf); partner Dominik Engl with associate Laura Lamster (both Tax, Frankfurt) as well as partner Claudia Milbradt with senior associate Nicolas Hohn-Hein (both IP, Düsseldorf). From the firm’s Warsaw office, counsel Krzysztof Hajdamowicz (Corporate) was involved.

Inhouse at Trinseo, General Counsel Angelo Chaclas and Legal Counsel Anna Yedes advised on the transaction.

Debevoise advised Deutsche Bank with led by M&A partner Andrew Bab (Picture) and included associate Zhiyan Cao.

The White & Case team that advised on the transaction included local partner Andrzej Sutkowski (Warsaw), counsel Carsten Rodemann (Berlin), local partner Thyl Haßler (Düsseldorf), partners Jörg Kraffel (Berlin), Thomas Burmeister, Tilman Kuhn (both Düsseldorf), Bodo Bender (Frankfurt), Katarzyna Czapracka (Brussels) and Hendrik Röger (Hamburg), counsel Kathrin Ahting (Berlin), local partners Sebastian Stütze (Hamburg), Andreas van den Eikel (Berlin), Thilo Wienke (Düsseldorf) and Tobias Daubert (Frankfurt), associates Iwo Malobecki (Warsaw), Mathias Bogusch, Miriam Wehner (both Frankfurt), Maximilian von Möllendorf, Laura Buchholz, Christian Crohn (all Berlin), Lisa Reichstein, Petra Kistner, Verena Rudolph (all Düsseldorf) and Maciej Gac (Warsaw), and competition advisor Sezin Elcin-Cengiz (Istanbul).

Involved fees earner: Markus Böhn – Clifford Chance; Dominik Engl – Clifford Chance; Anne Filzmoser – Clifford Chance; Amrei Fuder – Clifford Chance; Krzysztof Hajdamowicz – Clifford Chance; Nicolas Hohn-Hein – Clifford Chance; Michael Kümmel – Clifford Chance; Laura Lamster – Clifford Chance; Claudia Milbradt – Clifford Chance; Moritz Petersen – Clifford Chance; Jörg Rhiel – Clifford Chance; Stefan Simon – Clifford Chance; Dimitri Slobodenjuk – Clifford Chance; Lara Stelmach – Clifford Chance; Andrew Bab – Debevoise & Plimpton; Zhiyan Cao – Debevoise & Plimpton; Kathrin Ahting – White & Case; Bodo Bender – White & Case; Mathias Bogusch – White & Case; Laura Buchholz – White & Case; Thomas Burmeister – White & Case; Christian Crohn – White & Case; Katarzyna Czapracka – White & Case; Tobias Daubert – White & Case; Thyl Haßler – White & Case; Douglas Jasinski – White & Case; Petra Karin Kistner – White & Case; Jörg Kraffel – White & Case; Tilman Kuhn – White & Case; Lisa Reichstein – White & Case; Carsten Rodemann – White & Case; Hendrik Röger – White & Case; Verena Rudolph – White & Case; Sebastian Stütze – White & Case; Andreas van den Eikel – White & Case; Maximilian von Möllendorff – White & Case; Miriam Wehner – White & Case; Thilo-Maximilian Wienke – White & Case;

Law Firms: Clifford Chance; Debevoise & Plimpton; White & Case;

Clients: Deutsche Bank; Synthos S.A.; Trinseo;

Author: Federica Tiefenthaler