In close collaboration with FAS AG, the team led by Dr. Anne de Boer advised on due diligence, tax structuring, contract designs, and the relevant contract negotiations. Jointly with Bech Bruun (Copenhagen), Heuking Kühn Lüer Wojtek performed legal and tax due diligence and tax structuring. Financial due diligence was performed by FAS AG.
Nordic Air provides high quality industrial air filtration solutions to dealers and OEMs worldwide. The company operates in three locations in Denmark and the United Arab Emirates with some 100 employees and generates annual sales in excess of EUR 15 million. With more than 4,000 different filter articles and 20+ types of filter media, Nordic Air Filtration provides a very wide range of products for gas turbines and industrial applications. The seller was NASDAQ listed MFRI group.
The acquisition is part of the consistent growth strategy of Münster-based filtration expert Hengst. Hengst Automotive is an internationally recognized development partner and OEM supplier in filtration and fluid management for the automotive and engine industries and for applications in industrial and consumer goods. It employs some 3,000 people worldwide at eleven sites in Germany, Brazil, China, India, Poland, Singapore, and the U.S. The company intends to enhance its activities in the non-automotive market and to transfer its expertise and technologies as a partner to the automotive industry for filtration applications to these related areas.
Counsel to Hengst Automotive
Heuking Kühn Lüer Wojtek (Overall Coordination)
Dr. Anne de Boer (Lead, Contract Negotiations), Stuttgart,
Dr. Marc Scheunemann (Tax Structuring), Düsseldorf
Sarah Dupont (Corporate), Stuttgart
Bech Bruun (Denmark, Copenhagen)
Jens Christian Rasmussen (Lead Denmark, Contract Negotiations)
Martin Arup (Due Diligence, Corporate)
Arly Carlquist (IP)
Anders Oreby Hansen (Tax)
Carsten Pals (Tax)
Thomas Christian Thune (Employment)
Dr. Kilian Bälz (Corporate)
Dr. Jochen Murach (Corporate)
Inhouse Hengst Automotive:
Bernd Schraeder (Head of Legal)
Dirk Spalthoff, Member of the Executive Board FAS AG