Orrick Advises China’s Neway Valve on Acquisition of Econosto Deutschland

December.13.2019

Orrick, in cooperation with Chinese law firm Hylands, has advised Neway Valve (Suzhou) on its acquisition of Germany-based Econosto International Holding (Deutschland) GmbH from Econosto International Holding B.V.

Founded in 2002, Neway Valve (Suzhou) is one of the leading valve manufactures worldwide. With subsidiaries in the U.S., the Netherlands, Italy, Dubai and Singapore, the company’s products are widely used in the energy & infrastructure sector as well as in other industries.

Econosto Group is an international service provider with customer-oriented turnkey solutions in the field of flow technology. Since 2008, Econosto belongs to the Netherlands’ ERIKS Group, a multi-product specialist offering a wide range of mechanical engineering components and technical services.

Neway Valve (Suzhou) was advised by an Orrick team led by Düsseldorf-based M&A partners Wilhelm Nolting-Hauff and Konstantin Heitmann in cooperation with a team from Chinese law firm Hylands led by Shanghai-based partner Lawrence (Xiaojiang) Shu.

The Orrick team also included foreign counsel Hang Xu (M&A and private equity, Düsseldorf); partners Christian Schröder (data privacy IT/IP, Düsseldorf), Stefan Schultes-Schnitzlein (tax, Düsseldorf), Till Steinvorth (antitrust, competition and foreign trade, Düsseldorf) and André Zimmermann (employment, Düsseldorf); counsel Felix Schäfer (real estate, Düsseldorf); and associates Vanessa Sousa Höhl, Onur Öztürk (both M&A and private equity, Düsseldorf), Louisa Kallhoff, Marianna Karapetyan (both employment, Düsseldorf), Dennis Schmidt, Robert Weinhold (both data privacy IT/IP, Düsseldorf) and Julius H Schradin (antitrust and competition, Düsseldorf).