Cerha Hempel has advised Worthington Cylinders GmbH, a designer and manufacturer of pressure vessels, on its acquisition of all of the shares in German PTEC Pressure Technology GmbH from its unidentified founder and sole shareholder.
Cerha Hempel describes PTEC as "a global specialist in the manufacture of components for natural gas and hydrogen applications and a longstanding cooperation partner of Worthington." According to the firm, "immediately after and in connection with the transfer of shares, PTEC acquired the operating real estate as well as the patents required for conducting the business of PTEC from the sole shareholder, who [has been] retained by PTEC as Senior Director of R&D.”
Cerha Hempel’s team included Managing Partner Albert Birkner and Senior Associate Martin Eichinger.
Cerha Hempel could not provide more information on the deal.