Clifford Chance has advised the specialty chemicals group Lanxess, Cologne (Germany), on the sale of its wholly-owned subsidiary Perlon-Monofil, Dormagen (Germany), to the Munich investment company Serafin. The parties agreed not to disclose any details of the purchase price.

Perlon-Monofil produces polyamide and polyester monofilaments under the brand names Perlon, Atlas and Bayco. These products have various uses, in paper production, shipping and agriculture for example. Perlon-Monofil's revenues for 2013 were around EUR 30 million and it employed around 100 people.

Lanxess has 52 production sites around the world. Its main business operations comprise the development, manufacture and sale of synthetics, artificial rubbers, semi-finished products and specialty chemicals. Lanxess employs around 17,500 people in 31 countries and generated revenues of EUR 9.1 billion in 2012.

One of Serafin's main investment areas is synthetics processing. It has a holding in Nextrusion GmbH, one of the world's leading producers of monofilaments.

The Clifford Chance was led by partner Dr. Christof-Ulrich Goldschmidt and comprised senior associate Stefan Bruder and counsel Jörg Futter (all Corporate), partner Thorsten Sauerhering and senior associate Dr. Dominik Engl (both Tax), partner Dr. Stefan Simon, senior associate Priscilla Ries (both Employment) and partner Dr. David Elshorst (Real Estate) – all Frankfurt – as well as partner Dr. Claudia Milbradt and counsel Dr. Wolfgang Schönig (both IP, Düsseldorf).