Schoenherr and Associates SCA assisted AkzoNobel in connection with the sale of its XPS (extruded polystyrene) insulating materials business in Romania to HIRSCH Porozell. The Tunar-based XPS production facility became part of AkzoNobel following the deal in which it acquired Fabryo Corporation in October 2018. The deal is in line with AkzoNobel’s plans to focus on its core area of ​​expertise and consolidate operations into a single manufacturing facility in Romania.

“We are pleased to have been with AkzoNobel in its transactions in the Romanian manufacturing sector, both during its entry into the sector through the 2018 transaction and the recent sale of its insulation business. Congratulations to the parties on the completion of this transaction.” said Monica Cojocaru, partner of Schoenherr and Asociatii SCA, who coordinated the legal team that assisted AkzoNobel in the deal with HIRSCH Porozell.

AkzoNobel produces reliable paints and decorative coatings for its customers, communities and the environment. Its portfolio, which includes the brands Dulux, International, Sikkens and Interpon, meets the needs of customers worldwide. The company operates in more than 150 countries and strives to become a world leader in the industry in which it operates.

HIRSCH Porozell is a leader in the production of quality insulation materials from EPS (expanded polystyrene) with more than 30 production units located mainly in Central and Eastern Europe. With this acquisition, the company enters the XPS production market, covering five plants in Romania (Cluj, Timisoara, Sfantu Gheorghe, Bragadir and Tunar).

Schoenherr provided legal assistance in connection with this M&A transaction. The team of lawyers involved in helping AkzoNobel was coordinated Monica Cojocaru (local partner) and included them on Medalina Mitan (managing attorney), Simona Lehniuk (senior advocate) and Stelian Stroe (lawyer).

Schoenherr is a regional law firm operating in Central and Eastern Europe and Southeastern Europe, where it has 15 offices. The firm has been present in Romania since 1996, offering legal assistance services in the main areas of practice related to the activities of local and international companies. Schoenherr and Associates SCA is recognized by major international legal research organizations (Chambers and Partners, Legal500, IFLR1000) for its activities in the field of mergers and acquisitions.