Cologne – Jacquet Metal Service S.A., a leading distributor of special steel, has acquired certain parts of the distribution activities of SCHMOLZ + BICKENBACH AG, a world-leading company for special steel long products. Jacquet, which is listed on the Euronext exchange in Paris, used two subsidiaries to acquire the units. The transaction comprises six companies located in Germany, Austria, Belgium and the Netherlands. In 2014, they generated sales of around EUR 600 million and EBITDA of around EUR 7 million with some 1,000 employees. The enterprise value of the transferred distribution units is EUR 88.6 million.
With 17 branches and more than 15,000 customers across a number of industrial sectors, the distribution units acquired by Jacquet are leaders in their respective countries for selling long products made of special construction steel. The pro forma sales of the Jacquet Group (on a twelve-month basis) would have been around EUR 1.7 billion in 2014, taking into account the acquisition of the distribution companies.
The transaction is currently awaiting approval from the competition authorities and is also subject to other conditions agreed between the parties. They expect to close the deal in the third quarter of 2015.
An international team from CMS headed by lead partner Dr Hendrik Schindler advised the Jacquet Group on all legal aspects of acquiring the distribution units.
CMS Hasche Sigle
Dr Hendrik Schindler, Lead Partner
Dr Julia Faenger, Lead Due Diligence
Dr Vera Randel, all M&A, Corporate
Dr Angela Emmert
Dr Johannes Traut, both Employment
Dr Alexander Bissels
Pauline Moritz, both Pensions
Michael Kamps, IT
Susanne Frenz, both Intellectual Property
Stefanie Nagel, all Real Estate
Dr Anne Rausch, Environment, Public Law
Judith Börner, Commercial
CMS Reich-Rohrwig Hainz
Dr Sybille Novak
Mag. Daniel Kocab, both M&A, Corporate
CMS Derks Star Busmann
Herman van Aerts, both M&A, Corporate
CMS De Backer
Virginie Frémat, both M&A, Corporate