Austria: Schoenherr advises Wieland Ventures on acquisition of stake in UrbanGold
Schoenherr has advised Wieland Ventures GmbH (Wieland) on the acquisition of a 22.1 % stake in UrbanGold GmbH (UrbanGold), an innovative start-up that developed a technology to recycle valuable metals from electrical and electronic waste.
The terms and conditions of the transaction remain confidential.
UrbanGold was founded in 2014 as a start-up and spin off from Mettop GmbH. In recent years, the company has gained important customers in this field and has established a partnership with a plant engineering company that implements UrbanGold's concepts as a turnkey solution. Wieland will play an important role in further developing and expanding the company.
With this investment, Wieland is continuing its strategy of further improving the sustainability of copper, in order to also enhance the attractiveness of their customers' products in their respective markets.
The Wieland Group is a worldwide leading provider of semi-finished products and components made of copper and copper alloy. Currently, Wieland has 15 production sites on three continents. On average Wieland employed approximately 7.000 staff in the 2016/17 business year and distributed approximately 485.000 tons of semi-finished products made of copper and copper alloy.
The Schoenherr team was led by Florian Kusznier (partner, corporate m&a), who was supported by Sigrun Adrian-Waltner (attorney at law, corporate m&a); Julia Wasserburger (attorney at law, corporate m&a); Dominik Hofmarcher (attorney at law, ip, it & life sciences); Hanno Wollmann (partner, eu & competition); and Mariella Friedrich (associate, eu & competition).