Linklaters has advised the shareholders of privately held Heimbach GmbH on the sale of the company and its subsidiaries to Albany International Corp. The transaction is expected to close in the second half of 2023 and is subject to customary regulatory approvals. Until then, Albany and Heimbach will operate as independent, separate companies.
Heimbach, headquartered in Düren, Germany, is a global supplier of paper machine clothing (PMC) for the production of all paper and board grades on all machine types, as well as high-tech textile products used in a variety of industries including food, chemicals, building materials and automotive. The company employs around 1,200 people and has nine production sites in Germany, China, Spain, Switzerland, the UK, Belgium and Italy.
Albany International Corp., founded in 1895 and headquartered in Rochester/New Hampshire, operates 23 plants in 11 countries and generates sales of just over one billion US dollars with around 4,200 employees.
The cross-border and cross-practice Linklaters deal team was led by tax partner Oliver Rosenberg (Düsseldorf), together with Ann-Catherine Hofmann (Counsel, Corporate/M&A, Frankfurt) and Tamara Castaner Coll (Associate, Corporate/M&A, Frankfurt).
The wider Linklaters team included Sebastian Klingen (Counsel, Corporate/M&A, Düsseldorf), Ingo Klauß (Counsel, Antitrust & Investment Control, Düsseldorf), Johannes Porsch (Managing Associate, Corporate/M&A, Frankfurt), Carolin Jost (Associate, Tax Law, Düsseldorf), Melissa Delgado Pires (Associate, Tax Law, Düsseldorf), Lars Harzmeier (Managing Associate, Litigation, Arbitration & Investigations, Frankfurt), Elena Stamencovic (Associate, Antitrust & Investment Control, Brussels) and Jacopo Cislaghi (Associate, Antitrust & Investment Control, Milan).
