The Middleby Corporation’s Acquisition of Novy

Skadden, Arps, Slate, Meagher & Flom and Eubelius advised The Middleby Corporation on the transaction. Stibbe assisted the shareholders of Novy.

The Middleby Corporation announced the acquisition of Novy, a leading manufacturer of premium residential ventilation hoods and cooktops based in Belgium, with sales of approximately $90 million USD annually and EBITDA margins in excess of 20%.

The Middleby Corporation is a global leader in the foodservice equipment industry. The company develops, manufactures, markets and services a broad line of equipment used in the commercial foodservice, food processing, and residential kitchen equipment industries.

Novy is a leading European manufacturer for residential kitchens with a best-in-class reputation. In recent years the company quickly expanded its footprint as consumers adopted their products. The addition of Novy expands the Middleby Residential offerings in the built-in residential segment, while broadening its international presence in the premium residential kitchen equipment market.

The Skadden team was led by M&A partners Shilpi Gupta (Picture; Chicago) and Ani Kusheva (London); Tax partner Alex Jupp (London); Intellectual Property Litigation partner Douglas Nemec (New York); and Antitrust/Competition partner Frederic Depoortere (Brussels).

The Eubelius team was led by Marieke Wyckaert and Joris De Wolf and included Anouk Kerkhofs and Frederik De Leo.

Stibbe advised Sofindev?, BNP Paribas, ?Korys and the other shareholders. The Stibbe team included Dries Hommez, Elisabeth Matthys, Nathanaelle Kiekens, Henk Verstraete, Sophie Van Besien, Jan Proesmans, Margaux Beyer, Nina Coussement,  Gwennaëlle Kusters,Rosalie Lagaert, Niels Sneyers, Pieter van Daele, Michèle de Clerck, Hannah Dusauchoit, Inès Aghlalou,  Jan Joos, Loïc Matthys.

Involved fees earner: Frederik De Leo – Deloitte Tax & Legal; Joris De Wolf – Eubelius; Anouk Kerkhofs – Eubelius; Marieke Wyckaert – Eubelius; Frederic Depoortere – Skadden Arps Slate Meager & Flom; Shilpi Gupta – Skadden Arps Slate Meager & Flom; Alex Jupp – Skadden Arps Slate Meager & Flom; Ani Kusheva – Skadden Arps Slate Meager & Flom; Douglas Nemec – Skadden Arps Slate Meager & Flom; Inès Aghlalou – Stibbe; Margaux Beyer – Stibbe; Nina Coussement – Stibbe; Michèle de Clerck – Stibbe; Hannah Dusauchoit – Stibbe; Dries Hommez – Stibbe; Jan Joos – Stibbe; Nathanaelle Kiekens – Stibbe; Gwennaëlle Kusters – Stibbe; Rosalie Lagaert – Stibbe; Elisabeth Matthys – Stibbe; Loïc Matthys – Stibbe; Jan Proesmans – Stibbe; Niels Sneyers – Stibbe; Sophie Van Besien – Stibbe; Pieter van Daele – Stibbe; Henk Verstraete – Stibbe;

Law Firms: Deloitte Tax & Legal; Eubelius; Skadden Arps Slate Meager & Flom; Stibbe;

Clients: BNP Paribas; Korys; Middleby Corporation; Sofindev Private Equity Partners;

Author: Martina Bellini