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10 August 2023
press release
austria czech republic

Austria: Schoenherr advises NEVEON on sale of Greiner Perfoam to Trèves

Schoenherr advised NEVEON Holding GmbH ("NEVEON"), a member of the Greiner Group, on the sale of the automotive division, consisting of Greiner Perfoam GmbH and its subsidiaries ("Perfoam Group"), to Trèves S.A.S. ("Trèves").

The Perfoam Group specialises in interior trim and powertrain insulation parts for automobiles. In the financial year 2022, the Group generated approximately EUR 100m in sales with nearly 600 employees. The scope of this transaction included Greiner Perfoam GmbH in Enns and Linz, Greiner Perfoam s.r.o. at the Tabor and Valašské Meziříči sites (Czech Republic), Greiner Perfoam Automotive Components, S. de R.L. de C.V. in Mexico, and the participations in the two joint ventures Shenyang Greiner Automotive Components Co, Ltd. and Tianjin Greiner Automotive Components Co, Ltd. in China.

With this transaction, Greiner's foam division NEVEON will withdraw from the finished products automotive business and focus on its core foam business in the areas of Living & Care, Mobility, and a wide range of specialty foam applications. The closing of the transaction is subject to, among others, antitrust clearances and is expected before the end of this year.

"This transaction was very complex due to many restructurings which needed to be carried out before completion. We are pleased that we got to support NEVEON in this strategically important transaction and the resulting concentration on its core business," said Robert Bachner, leading partner of the Schoenherr team advising on the transaction.

NEVEON is a leading global integrated foam group that offers outstanding polyurethane flexible and composite foams for a huge range of applications, from the comfort segment through the transportation sector to a wide variety of specialty applications. It is part of the Greiner Group of companies and aims to contribute to improving the quality of life globally with its products. With a network of 57 locations, NEVEON has a presence in 17 countries around the world. In the 2022 financial year, NEVEON generated EUR 732m in sales and employed over 3,600 people.

The Trèves Group, headquartered in Paris, France, is a global supplier, designer, and manufacturer of acoustic and thermal insulation solutions for the automotive industry.

The Schoenherr core team was led by Robert Bachner (partner, Austria) and Daniel Wadl (attorney at law, Austria), and further consisted of Verena Krikler (associate, Austria), Nikolaus Stepan (associate, Austria), Michal Jendželovský (attorney at law, Czech Republic), Franz Urlesberger (partner, Austria), Johannes Frank (attorney at law, Austria), Constantin Benes (partner, Austria) and Franziska Oczlon (attorney at law, Austria).