Taylor Wessing advises the LEO III Fund on the acquisition of H.K.O Isolier- und Textiltechnik GmbH from Saint-Gobain

Led by Munich-based partner Sven Schweneke, Taylor Wessing provided comprehensive legal advice to the private equity fund Lenbach Equity Opportunities III. GmbH & Co. KG (“LEO III Fund”), managed by the DUBAG Group, on the acquisition of H.K.O Isolier- und Textiltechnik GmbH (“H.K.O Isolier- und Textiltechnik”) from Saint-Gobain.

H.K.O Isolier- und Textiltechnik is a specialist manufacturer of highly specialised thermal insulation, fire protection and technical textile products – serving demanding industrial end markets worldwide, ranging from high-temperature insulation to fire protection for electric batteries and personal protective equipment.

The acquisition follows the Saint-Gobain Group’s strategic decision to focus on its core business areas. As part of this realignment, Saint-Gobain conducted a competitive bidding process to find a suitable new owner for H.K.O Isolier- und Textiltechnik. The LEO III Fund emerged as the preferred bidder.

About the DUBAG Group and the LEO III Fund

The DUBAG Group was founded in 2009, is based in Munich and is a rapidly growing investment firm that manages the private equity fund LEO III. The fund invests in medium-sized companies facing special situations, such as corporate spin-offs, turnarounds, succession planning in family businesses, complex financing structures and tail-end situations for financial investors. The LEO III Fund pursues a pan-European investment strategy with a particular focus on the DACH region and Italy.

About Saint-Gobain

Founded in 1665, Saint-Gobain is a world-leading supplier of building materials and high-performance materials, headquartered in France. The Group develops, manufactures and markets innovative solutions for the construction and industrial sectors, designed to promote energy efficiency, resource conservation and climate-friendly construction. Saint-Gobain operates in more than 70 countries and employs over 150,000 people worldwide.

Legal advisers to LEO III Fund

Sven Schweneke (lead) and Florian Leitsbach (both Private Equity, Munich); Dr Adrian Birnbach (Real Estate, Munich); Henrik Grawe and Johannes Tapken (both M&A, Munich); Dr Michael Kieffer and Anna Englert (both Commercial & Distribution, Munich); Phillip Heske (Technology, Media & Telecommunications, Munich); Rudi Hasenberg (Tax, Frankfurt); Dr Stefan Horn, LL.B., Nora Mommsen Stöblen and Lara Nonnenmühlen (all Antitrust, Hamburg); Malke Kristina Zimmermann (Foreign Direct Investment, Düsseldorf).