Monday, 2 July 2018

Orth Kluth advises Follmann Chemie GmbH on the acquisition of Sealock Ltd. (UK)

With the official signing of the contract on 27 April 2018, Follmann has acquired the adhesives manufacturer Sealock Ltd.

The Follmann Group is an internationally active family-owned company in the chemical industry with particular expertise in the development, production and distribution of special chemicals for the processing industry and for the production of sealing systems and marking materials for the construction sector. More than 700 employees generated a global turnover of over 200 million euros in the 2017 financial year and achieved a production volume of 60,000 tonnes.

Sealock Limited, based in Andover, UK, is the parent company of the Sealock Group, which develops, produces and distributes hot melt and water-based adhesives for the packaging sector. Sealock currently employs 20 people and has an annual turnover of around €6 million. The company has a wholly owned subsidiary in Poland and also holds minority interests in Sealock Sarl in France and Intermelt ZAO in Russia.

The Sealock Group's products complement Follmann's portfolio perfectly. "The transaction is perfectly in line with our growth strategy in the adhesives sector," says Dr Henrik Follmann, shareholder of Follmann Chemie Group.

The buyer in the current transaction was Follmann GmbH & Co. KG with headquarters in Minden.

Subsequently, Follmann also took over the shareholdings in the Finnish Intermelt Adhesive Solutions OY AB as a whole and in the Russian ZAO Intermelt, which had previously been held by Sealock UK only as a minority shareholder. The local management remains a minority shareholder in the Russian company.

Orth Kluth advised Follmann throughout the entire acquisition process and, in particular, with the support of its local cooperation partners, conducted the contract negotiations and coordinated the due diligence process in France, Poland, Finland and Russia.

Dr. Kai-Michael König
T +49 211 60035-220