Baker McKenzie advised Jiangsu Hagong Intelligent Robot (Ha Gong Zhi Neng, HGZN), a Chinese robot manufacturer, on the acquisition of the German family owned company NIMAK (NIMAK GmbH, NIMAK KG and Nickel GmbH). The transaction volume amounts to 88 million euros and is transacted via HGZN's subsidiary, Herkules Intelligent Technology GmbH & Co. KG, headquartered in Germany. Further, 60 percent of the sister company NIMAK China will also be taken over.
The transaction is subject to customary regulatory approval and is expected to close at the end of May 2019. The current management team, led by Nimak's Managing Director Dr. Niels Hammer, will continue to manage the business after completion of the transaction with the goal of providing the company and its employees with a successful, sustainable and socially responsible, long-term perspective.
Baker McKenzie advised HGZN on all legal aspects of the transaction.
"With the successful completion of the transaction, we were able to support our client in entering the European market and in achieving their strategic growth targets in the area of Smart Manufacturing", commented Dr. Thomas Gilles, Corporate Partner and Chairman of Baker McKenzie's EMEA China Group.
Jiangsu Hagong Intelligent Robot Co Ltd, formerly Jiangsu Youli Investment Holding Co Ltd, is a China-based company principally involved in the intelligent manufacturing business, real estate sales and leasing business, as well as spandex production and sales business. The Company operates through three segments. The Intelligent Manufacturing Business segment is mainly engaged in the manufacture of high-end smart equipment and provision of one-stop robot service platforms. The Real Estate Sales and Leasing Business is involved in the sales of office buildings, high-end residential and commercial real estate. The high-tech company HGZN has been listed on the Shenzhen Stock Exchange since 1993.
On a global scale, NIMAK is the only supplier of resistance welding and simultaneously gluing technology. The company headquartered in Wissen is active around the world. 430 employees support customers from highly diversified sectors - in particular automotive, consumer goods, the aerospace industry and metalworking - with their challenges in production and accompany them in new markets and in unchartered technological territory. As part of the group, Nimak KG is active in real estate sales and leasing and Nickel GmbH acting as the holding company.
Baker McKenzie's Corporate / M&A team regularly advises on domestic and international transactions and reorganisations. Most recently, Baker McKenzie advised Syngroh Capital on its investment in KMLS, B.C. Jindal Group on the acquisition of Treofan Group, Gerresheimer on the acquisition of Sensile Medical, Ufenau Capital Partners on the acquisition of the Kruppert Group, the Nison Group on the acquisition of the majority stake of the SieMatic Group, financial investors First State Investments and Hermes Investment Management on the acquisition of the shipping company Scandlines, Mundipharma on the sale of its Limburg production, Rexnord on the acquisition of the CENTA Group and LKQ Corporation on the acquisition of the Stahlgruber Group.
Legal advisor to Jiangsu Hagong Intelligent Robot: Baker McKenzie
Lead:
Corporate/M&A: Dr. Thomas Gilles (partner, Frankfurt, Chairman EMEA China Group of Baker McKenzie)
Team:
Corporate/M&A: Christian Atzler (partner, Frankfurt), Jeff Xu (associate, Shanghai), Esther Xiang (associate, Frankfurt), Kai Schlender (associate, Frankfurt)
Antitrust: Christian Horstkotte (partner, Dusseldorf), Clara Dust (associate, Dusseldorf)
Employment: Dr. Christian Reichel (partner, Frankfurt), Dr. Hagen Köckeritz (partner, Frankfurt), Dr. Anna Verena Böhm (counsel, Frankfurt), Annekathrin Haffke (associate, Frankfurt)
International Commercial & Trade: Anahita Thoms (partner, Düsseldorf), Dr. Ilya Levin (associate, Berlin)
Commercial: Dr. Johannes Teichmann (partner, Frankfurt), Dr. Ingmar Oltmanns (associate, Frankfurt)
Environment: Dr. Niklas Wielandt (associate, Frankfurt)
