CMS advises NEVEON on joint venture with BRANTNER Green Solutions

A team of experts at CMS Austria has successfully advised NEVEON, a foam producer and processor with an international footprint, on the establishment of a joint venture with circular economy company BRANTNER Green Solutions. The agreement was signed on 28 June 2024. The joint venture will officially be established after review and approval by the competition authorities.

“We at CMS have integrated sustainability into our legal advice as an essential aspect for all practice areas and industries. We were therefore delighted to have the opportunity to advise NEVEON and contribute our profound expertise to this inspiring, trailblazing project,” said Alexander Rakosi (partner) and Marie-Christine Lidl (senior associate) of the Corporate Transactions Team at CMS in Vienna.

NEVEON, with its seat in Kremsmünster, is a leading company for flexible and composite polyurethane foams. The joint venture with BRANTNER Green Solutions will close the current gap in mattress recycling in Austria, helping to keep valuable raw materials in use and open up new material flows.

The agreement makes the two Austrian companies pioneers, as their joint venture is established in an environment where recycling infrastructure is not yet supported by EPR schemes (Extended Producer Responsibility).

The CMS team provided extensive legal advice on structuring the transaction, negotiating the transaction documents, signing, and aspects of competition law.

The core team, consisting of lead partner Alexander Rakosi and lead senior associate Marie-Christine Lidl (both Corporate/M&A), has been supported by partner Dieter Zandler (Competition), partner Gabriela Staber and associate Isabella Redl (both Intellectual Property), as well as associate Alexander Sommergruber (Property & Procurement).