Vorarlberg Specialist for Impregnation Technologies Becomes Part of Munich-Based Freudenberg Chemical Specialities
May, 2021 - Vienna, Austria
DORDA, together with King & Wood Mallesons (KWM), advises PINOVA Capital as well as further shareholders of Deurowood Holding GmbH on the sale of Deurowood to Freudenberg Chemical Specialities (FCS), a German manufacturer and marketer of specialty chemical products based in Munich.
For years, Deurowood has been considered one of the world's leading suppliers of additives for the paper impregnation industry and special expertise in the application field of engineered wood. In the future, Deurowood will be integrated into the FCS Group. This offers the opportunity to build on its previous success and to develop further in cooperation with FCS. After the takeover by FCS, the responsible management of Deurowood continues to be in charge of the operative management. The company headquarters will remain in Hard, Vorarlberg.
Deurowood, founded in 2003, is a leading global supplier of additives for the global paper impregnation industry and provides special expertise in the application field of engineered wood. Companies worldwide appreciate the service attitude, know how, comprehensive product range and the readiness to always aim for tailor-made solutions.
FCS, headquartered in Munich, develops, manufactures and markets chemical specialities and is one of the world's leading suppliers of special lubricants, release agents and products for chemical surface technology, ranging from chemotechnical products for maintenance and repair to solutions for the refinement of confectionery and other food products. With the acquisition of Deurowood, FCS continues its acquisition strategy and expands its existing business with the paper and wood-based materials industry.
PINOVA Capital is an independent investment company that invests in fast-growing technology companies in German-speaking countries.
On the seller side, the successful transaction was advised by KWM and DORDA. At KWM, Markus Herz (Partner), as responsible for the legal advice together with Lorenz Liebsch (Associate) and Simon Brandt (PSL) (all Corporate/M&A). The DORDA team was led by Bernhard Rieder (Partner) and supported by Lukas Herrmann (attorney at law). Bernhard Rieder is pleased about the closing of the transaction: "Having already advised the current sellers on their initial investment into the Deurowood Group, it was great to see how the company has developed over the past years. We are even more pleased that we were able to advise once again on the current exit."
