Freshfields advises Etex on acquisition with focus on sustainability
Global law firm Freshfields Bruckhaus Deringer ('Freshfields') is advising Etex on the consolidation of its portfolio of sustainable business activities through the acquisition of URSA, a European leader in insulation solutions, from Xella Group. This acquisition is subject to customary closing conditions.
Through this transaction, Etex is securing a new business growth platform, in addition to the opportunity to continue playing a pivotal role in addressing sustainability challenges. By adding insulation expertise to its plasterboard, fibre-cement, passive fire protection and modular offering, Etex will also extend its ability to provide systems and solutions.
URSA’s activities are present across more than 20 countries in Europe, including France, Germany, Spain and Poland, in addition to Russia. The company operates 13 production sites and covers most countries where Etex is already operating through its other divisions. Headquartered in Madrid, URSA brings a reliable European supply chain network and a team of over 1,700 dedicated employees for a revenue of circa €500 million. Like Etex, it prides itself on the sustainability and comfort features of its products.
The Freshfields team is led by Gregor von Bonin (partner, Düsseldorf) and Judit Gajdics (counsel, Munich) and comprises Edward Cole (partner, London), Moritz Heidbuechel (counsel, Frankfurt), Dr. Aljoscha Barath (Hamburg), Gaïa Pattyn (Munich), Dr. Maxim Gomer (Düsseldorf), Lisa-Marie Woschniak (Munich), Dr. Timo Piller, Daniel Vogt (both Düsseldorf) and Madalena de Abreu (London, all Corporate/M&A). Tax advice is being provided by Dr. Georg Roderburg (partner) and Thomas Richter (both Düsseldorf). Partner Dr. Martin Klusmann is advising on competition law together with Dr. Sebastian Pritzkow (both Düsseldorf). Dr. Ulrich Sittard (Partner, Düsseldorf) and Kristin Kammann (Hamburg) are advising on employment law and Dr. Michael Ramb (partner, Düsseldorf) and Sascha Arnold (counsel, Hamburg) are advising on public and environmental law together with Lena Hanke (Berlin).