International law firm Bird & Bird’s Czech transactional team has acted as counsel to RFE Investment Partners, a leading private equity group, in a significant cross-border transaction in the automotive component sector, involving the acquisition of Hastings Group and its Czech subsidiary, Piston Rings Komárov s.r.o, by NPR-RIKEN Corporation.
Hastings Manufacturing Company and Piston Rings Komárov s.r.o., both belonging to Hastings Group, are leading global designers and manufacturers of piston rings for the OEM and Aftermarket channels. By joining forces in 2017, a transaction on which Bird & Bird also advised, they managed to significantly expand their product offering and geographical coverage, building on the long-standing history and excellent reputations of both companies.
NPR-RIKEN Corporation is a Japanese, Tokyo Stock Exchange listed automotive component manufacturer, and a leading player on the global piston ring market.
The transaction involved a sophisticated multi-jurisdictional framework.
Bird & Bird’s Czech transactional team comprising Ivan Sagál (Partner), Ľubomír Brečka (Counsel), Martina Walizcková (Senior Associate), Kristýna Opolzerová (Associate), Karolína Rösler (Associate), Karolína Mládková (Associate) and Martin Novotný (Associate) advised on the full range of Czech law aspects of the transaction, working alongside Finn Dixon & Herling LLP, US counsel to the seller.
Ivan Sagál, partner at Bird & Bird commented: “Having supported both players, Hastings Manufacturing Company and Piston Rings Komárov, for nearly a decade and now during their joint growth phase, we are proud to stand at the next milestone of their business journey, entering into a new chapter under a new strong brand within the global automotive industry.”
