Pinsent Masons advises Schaidt Innovations on the acquisition of HBAS manufacturing plant
03 May 2013 | 05:43 pm |
International law firm Pinsent Masons has advised Schaidt Innovations GmbH & Co. KG (Schaidt Innovations) on the acquisition of a manufacturing plant from Harman Becker Automotive Systems GmbH (HBAS).
The plant, which is located in Schaidt, in Rheinland-Palatine, employs 500 staff and produces car infotainment components for the car industry. In 2011, staff, the works council and the trade union IG Metall saved the plant from planned closure and prevented production moving to Hungary, there has been wide spread support for the takeover by Schaidt Innovations. A long-term manufacturing agreement between Schaidt Innovations and HBAS will ensure that HBAS’ customers, which include Porsche and Audi, will continue to be supplied with products from the Schaidt plant.
Schaidt Innovations GmbH & Co. KG was founded by entrepreneurs Andreas von Meyer zu Knonow and Sebastian Moss. Their objective was to establish an Original Designed Manufacturer (ODM)for the automotive, non-automotive telecommunications and IT , medical devices, and the electronic packaging and systems integration industries.
The Pinsent Masons team advising on all legal aspects of the deal was led by Rainer Kreifels(Partner, M&A), Manfred Schmid (Partner, Employment), Dr. Florian von Baum (Partner, IT & outsourcing), Dr. Johannes Maidl (Legal Director, M&A), Dr. Florian Anselm (Legal Director, M&A), Dr. Stephan Appt (Legal Director, IT & outsourcing), Christina Otterbach (Associate, M&A) and Marina Arntzen (Associate M&A).
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