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Nuremberg, 6. September 2019: Rödl & Partner has been providing advisory services on all financial and tax aspects to Con Pearl Acquisitions Ltd., Jersey, the majority shareholder of the specialised manufacturer of lightweight plastic products, Friedola TECH GmbH, during the sale of shares within the framework of a structured bidding process. The parties have agreed not to disclose any financial details of the transaction.
During the recent years the company - also known for its brand name Con-Pearl® - was focusing on its core business with recyclable and lightweight plastic products intended primarily for the packaging industry and logistics segment. Dr. Matthias Stein, the CEO of Friedola TECH, intends to successfully continue the Group's reorientation with new shareholders towards innovative Con-Pearl solutions for automotive and packaging applications and also to support further growth in the USA.
Rödl & Partner's interdisciplinary transaction services team led by Cyril Prengel (financial aspects) and Florian Kaiser (tax aspects) was the exclusive financial and tax advisor to the majority shareholder of Friedola TECH GmbH.
Key service areas included the production of a financial and tax fact book, which was aligned to the corporate strategy by means of numerous pro forma presentations, information concerning restatement of the financial figures in order to present them in accordance with the IFRS as well as expert discussions on financial and tax matters with potential investors as part of the bidding process conducted by the investment bank Stephens Europe. In addition, Rödl & Partner advised the majority shareholder of Friedola TECH on tax restructuring of a shareholder loan prior to the closing of the deal.
The Friedola TECH Group produces lightweight plastic products for the packaging, automotive and many other industries. The 2018 sales of this globally active group of companies were EUR 55.1 million. The total number of personnel of Friedola TECH worldwide employed at its production facilities in Geismar (Thuringia), Bremen (Germany) and Greenville (South Carolina, USA) is approx. 300. The company operates its own recycling plant for recycling of high-quality polypropylene plastics at the Leinefelde facility in Thuringia. Con-Pearl® twin-wall sheets developed and manufactured by Friedola TECH are made of polypropylene film webs produced by the company and manufactured almost entirely from recycled material. Thermoforming and lamination make the products lightweight, stable, non-flammable and also 100% recyclable.
Cyril Prengel, Partner (Transaction Services), Nuremberg, project management in financial aspects – Financial
Thomas Rattler, Partner (Accounting Advisory Services), Nuremberg – Financial
Christoph Lebschi, Senior Associate (Transaction Services), Nuremberg – Financial
Florian Kaiser, Partner (Transaction Tax Services), Nuremberg, project management in tax aspects – Tax
Dr. Patrick Satish, Associate Partner (Transaction Tax Services), Nuremberg – Tax
Frank Breitenfeldt, Partner (Transaction Tax Services), Atlanta, project management in tax aspects in the USA – Tax
Dennis Wieckert, Associate (Transaction Tax Services), Atlanta – Tax
Gerhard Gleich, Managing Director, Head of Stephens Germany, Frankfurt am Main – M&A
Philipp von Grawert, Managing Director, Frankfurt am Main – M&A
Leif Lohse, Associate Director, Frankfurt am Main – M&A
Valentin zur Strassen, Analyst, Frankfurt am Main – M&A
Cyril Prengel
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Florian Kaiser
