Binder Grösswang Advises Paramit Corporation on the Acquisition of System Industrie Electronic GmbH
Binder Grösswang advised Paramit Corporation, a manufacturer of medical devices and instruments for life sciences based in California and with offices in Silicon Valley and Malaysia, on the acquisition of 100% of the shares in the Austrian company System Industrie Electronic GmbH and its German subsidiary.
As part of the S.I.E SOLUTIONS Group, the acquired company is a leading provider of embedded technology solutions and, as a high-tech company and innovation driver, offers a combined portfolio of design, hardware, software and services to customers across the medical device, IVD and life science industries. The acquisition shall achieve to increase the depth of production, expand the service portfolio and to implement Paramit's planned expansion in Europe.
The shares were sold by the former majority shareholder, System Industrie Holding AG and its ultimate owner Filzmaier Private Foundation as well as the former minority shareholder. According to the terms of the share and purchase agreement, Paramit Corporation will acquire System Industrie Electronic GmbH including its German subsidiary System Industrie Electronic Deutschland GmbH.
The transaction is subject to antitrust clearance in Germany and investment control clearance in Austria and Germany and is expected to be completed in the fourth quarter of 2020.
The advice of Paramit Corporation was conducted in close cooperation with a team of the U.S. law firm Schiff Hardin LLP led by Partner Steve E. Isaacs (Chicago) and Partner Sara Rosenberg (New York), all M&A. In addition, a team from Hengeler Mueller, led by the Partners Daniel Wiegand and Dirk Uwer, was also involved on the client side for matters concerning German law.
Binder Grösswang's team was led by Partner Thomas Schirmer, Senior Associate Wolfgang Guggenberger and Associate Pia-Alena Havel (all M&A) and also included Partner Bernd Schneiderbauer, Senior Associate Mona Holzgruber and Associate Felix Fuith (Corporate), Partner Johannes Barbist and Senior Associate Regina Kröll (Public Law and Investment Control as well as Regulatory), Partner Christian Wimpissinger and Senior Associate Clemens Willvonseder (Tax), Partner Stefan Tiefenthaler, Associate Markus Stelzl, Associate Sara Anahita Bayat and Associate Franz Hufnagl (Banking & Finance), Partner Markus Uitz, Associate Artan Duraku and Associate Adam Wu (Real Estate), Partner Horst Lukanec, Senior Associate Manuel Müllner and Associate Nina Niederstrasser (Employment Law), Counsel Hellmut Buchroithner and Associate Florian Gruber (Commercial/IP/IT), Senior Associate Philipp Spring (Data Protection and IT), Partner Christine Dietz and Associate Miriam Imarhiagbe (Merger Control) and Senior Associate Thomas Hartl (Compliance).
The Schiff Hardin LLP team was led by Partner Steve E. Isaacs (Chicago) and included Partner Sara Rosenberg (New York), all M&A, and Partner Olga Bogush (Tax).
The Hengeler Mueller team included Partner Daniel Wiegand (Corporate/M&A), Partner Alf-Hendrik Bischke and Senior Associate Tobias Bieber (both Merger Control), Partner Dirk Uwer and Senior Associate Carsten Bormann (both Investment Control), as well as Partner Hendrik Bockenheimer and Senior Associate Selina Rohr (Employment Law).
The sellers were advised by a team of Brandl & Talos Partner Roman Rericha and Associate Stephan Strass.