DLA Piper has advised an affiliate of Sun European Partners, on the LBO acquisition of the Flexitech Group (Flexitech), the world leading global designer and supplier of hydraulic brake hoses to the automotive industry.
 
The business was acquired from Mitsubishi Corporation for an undisclosed value.
 
French headquartered Flexitech employs over 1,200 staff.  It operates its own facilities in France, Romania, the United States, Mexico and Brazil, and supports its customers through local partners in China and India.
 
One of Sun's key priorities following the acquisition will be to accelerate the company’s expansion in Asia, while maintaining growth in the core European and American markets.
 
DLA Piper's global team was led by London Restructuring partner Noam Ankri, who commented: "Local law advice and insight were crucial to this deal.  Our global footprint and experience coordinating advice from multiple jurisdictions enabled us to complete the acquisition within the client's challenging deadline.
 
Global Restructuring Group Co-chair Michael Fiddy added: "DLA Piper was built to advise on complex international transactions of this nature. Noam's experience as a French restructuring law expert working for fund clients in London were key to the deal's timely conclusion".
 
The core team, which was led by Noam Ankri (Restructuring, London), comprised partner Maud Manon, associates Julien Godlewski, Glenda Pereire-Robert (all Finance), Cyrine Abdelmoula, and Laura Bavoux (both Restructuring), from Paris.  The core team was supplemented by local teams in Mexico, across Brazil, Japan, Romania and the USA.