Romania/Austria/Hungary: Schoenherr advises TeraPlast on acquisition of Wolfgang Freiler Group
Schoenherr advised TeraPlast Group on its acquisition of the Wolfgang Freiler Group from the Austrian Uhl family. With this major transaction, the Romanian entrepreneurial group TeraPlast will establish its Central and Western European footprint by taking over production facilities in Hungary as well as a dynamic distribution division in Hungary, the Czech Republic, Austria, Germany and France.
Schoenherr acted as lead counsel to TeraPlast Group in this cross-border transaction. The firm's offices in Romania, Austria and Hungary worked together to provide integrated buy-side legal advice.
"We are proud to have advised TeraPlast in several M&A transactions on the group's path to achieving its expansion goals," said Markus Piuk, partner, who led the Schoenherr team advising TeraPlast. "We congratulate the parties on this important cross-border deal, which is a major step for TeraPlast and sends a positive signal to Romanian companies interested in going West."
The acquisition extends and complements TeraPlast Group's product portfolio, facilitating the access to new, high potential markets in Central and Western Europe. Polytech and Pro-Moulding, the two subsidiaries of the Wolfgang Freiler Group, carry out production activities in Hungary, while Freiler oversees the distribution activity. Polytech manufactures pipes for the protection of electrical cables and optical fibres while Pro-Moulding specialises in plastic injection.
The Romania-based TeraPlast Group is the largest polymer processor in South-Eastern Europe. Its member company TeraPlast SA is listed on the Bucharest Stock Exchange.
Wolfgang Freiler Group was acquired from the Uhl family who has operations in various sectors, including construction, real estate and hospitality.
The Schoenherr team advising TeraPlast Group in this transaction was led by Markus Piuk (partner) and included Kinga Hetenyi (partner, Hungary), Narcisa Oprea (partner, Romania), Cristina Tudoraș (senior attorney at law, Romania), Márk Kovács (attorney at law, Hungary), Adrián Menczelesz (attorney at law, Hungary), Áron Hegyi (attorney at law, Hungary), Noémi Suller (associate, Hungary) and Alexandra Jelinek (associate, Austria).