Hamburg / Shanghai – Powerway Group Co. Ltd., a transnational company headquartered in Ningbo/China, has acquired Berkenhoff GmbH of Heuchelheim, Germany. The Chinese conglomerate operates primarily in the nonferrous alloy sector. By acquiring Berkenhoff, a long-established manufacturer of precision wire, Powerway is expanding its global presence in this market.
A team from CMS offices in Hamburg, Shanghai and Frankfurt headed by lead partner Dr Henrik Drinkuth advised Powerway on all legal aspects of the acquisition.
Established 125 years ago, Berkenhoff GmbH has two production sites and currently employs around 440 people. The company generated sales of approximately EUR 95 million last year. Powerway also owns subsidiaries in China and Vietnam. One of the Chinese companies is listed on the Shanghai Stock Exchange. The group employed some 4,600 staff and posted global sales of around EUR 430 million in the last financial year.
Angermann M&A International acted as financial advisor to Powerway. Former government minister Rudolf Scharping and a team from RSBK acted as mediator between the buyer and seller and the works councils and the IG Metall Union.
CMS Hasche Sigle
Dr Henrik Drinkuth, Lead Partner
Dr Christoph Schröder
Jie Lin, all Corporate
Dr Daniel Ludwig
Dr Oliver Ramcke, all Employment
Dr Markus Schöner
Christoff Henrik Soltau, both Competition
Dr Konrad Walter
Dr Johanna Kemper, both Public Law
Dr Malte Grützmacher
Dr Nico Brunotte, both IP/IT
Dr Olaf Thießen, Tax
Dr Felix Muhl, Commercial
Dr Marc Riede
Dr Dirk HarmutVeldhoff
Dr Sebastian Huck
Dr Michael M. Klose, all Finance