Overview
Düsseldorf, October 18, 2024 – McDermott Will & Emery has advised the insolvency administrator of German-based Heubach Colorants Germany GmbH, Heubach GmbH and Dr. Hans Heubach GmbH, Dr. Andreas Kleinschmidt (White & Case LLP), on the sale of their entire business operations to Sudarshan Chemical Industries Limited (SCIL). The transaction is structured as a combination of an asset and share deal. The execution is still subject to the usual reservations.
The sale of the business operations of the insolvency debtors was closely interlinked with the sale of other international group companies of the Heubach Group. This part of the transaction was advised by a team from Gibson Dunn & Crutcher LLP, who represented certain lenders to Heubach Group, in close cooperation with McDermott Will & Emery.
This strategic acquisition will create a global pigment company, combining SCIL’s operations and expertise with Heubach’s technological capabilities.
The Heubach Group with main production site in Frankfurt-Höchst has a 200-year history and became the second largest pigment player in the world after acquiring Clariant BU Pigments in 2022. Heubach had over a billion euros in revenue in FY21 and FY22, with a global footprint especially in Europe, Americas, and the APAC region. The Group faced financial challenges over the past two years due to rising costs, inventory issues, and high interest rates. SCIL’s acquisition of Heubach will address these challenges with a clear turnaround plan.
The McDermott team was led by partner Dr. Matthias Kampshoff and comprised partners Dr. Marc Oberhardt, Dr. Björn Biehl, Carina Kant, Dr. Sandra Urban-Crell, Dr. Pierre-André Brandt, Steffen Woitz and Dr. Florian Schiefer as well as associates Tjark Pogoda and Lea Hauser.
