1 November – LAWFUEL – The Law News Network – International law firm Mayer, Brown, Rowe & Maw LLP has advised investment company LBO France on the acquisition of the abrasives and diamond tools company Wheelabrator Allevard SA. The acquisition was already approved by the European Commission under the EU Merger Regulation at the end of September 2005. The transaction amounting to 302.5 million Euro was financed on a big scale through borrowing by Royal Bank of Scotland.
LBO France is a French investment company which manages a number of investment funds that are involved in small-cap or mid-cap acquisitions. It focuses on leveraged buy-outs and has interests in a broad range of businesses in different sectors. Wheelabrator Allevard SA is a quoted manufacturer of metallic abrasives and diamond tools. It has operations in the European Union, North and South America, South Africa, and Asia.
The Frankfurt office of Mayer, Brown, Rowe & Maw has advised LBO France in particular on the financing facilities and other security documents and on inter-group restructuring measures. The transaction was mainly motivated by a tax-optimized cross-border structure of the refinancing.
The advising international team of Mayer, Brown, Rowe & Maw consisted of Dr. Ingo Kleutgens (Tax), Dr. Klaus J. Mueller (Corporate), Dr. Patrick Sinewe (Corporate/ Tax) from the Frankfurt office and Jean-Pierre Lee, Erwan Heurtel, Patrick Teboul, Francois Gerner, Laurent Borey (Tax), Jean-Charles Barbaud (Corporate), Benjamin Homo (Tax) from the Paris office.
