An Orrick team in Germany has advised a new materials industry fund, co-managed by QFAT Investment and ICP Integrity Capital Partners, on its acquisition of a controlling stake in COTESA, a leading German manufacturer of fiber composite parts for aviation and automotive engineering.
Advanced Technology & Materials Co., Ltd., a Chinese tech company focusing on innovative metal-based products, is the anchor investor of the fund and will assist COTESA in expanding its production and sales operations to the Chinese market. Headquartered in Beijing, Advanced Technology & Materials Co., Ltd. generated sales of more than $600 million in the past fiscal year with some 6,600 employees.
The transaction is part of a bidding process and remains subject to approval from the competition authorities. Financial details have not been disclosed.
The consortium was advised by an Orrick team led by M&A and Private Equity partner Wilhelm Nolting-Hauff and M&A and Private Equity counsel Christoph Rödter. The team also included foreign counsel Hang Xu (M&A and Private Equity), partners Stefan Schultes-Schnitzlein (Tax), André Zimmermann (Employment Law), Till Steinvorth (Antitrust) and Christian Schröder (IP/IT Data Privacy), counsel Felix Schäfer (Real Estate) and associates Julian Dirksen (M&A and Private Equity), Markus Piontek (Tax), Louisa Kallhoff (Employment Law), and Sophie Ratzke (IP/IT Data Privacy).
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