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CMS Advises Modine on Sale of Automotive Business to Schmid Metall

CMS Advises Modine on Sale of Automotive Business to Schmid Metall

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CMS has advised US-based thermal management technology developer Modine Manufacturing Company on the sale of its Europe-based air-cooled automotive business to Austria’s Schmid Metall GmbH. Taylor Wessing advised the buyer.

Schmid Metall is an affiliate of Rupert Fertinger GmbH, a privately held Austrian producer of components for temperature management in vehicles, and power and media-carrying modules, among others. 

According to CMS, the sale of Modine’s Austrian business, which includes its manufacturing facility in Kottingbrunn, will allow the company to further fuel and grow its remaining businesses that provide higher operating margins, lower capital intensity, and greater free cash flow generation. The deal is subject to regulatory approvals and is expected to close in the first half of 2021. 

The CMS team consisted of Vienna-based Partners Alexander Rakosi, Johannes Trenkwalder, Dieter Zandler, Andrea Potz, Gabriela Staber, Stefan Paulmayer, and Rainer Wachter, Counsel Hans Lederer, Lead Associate Florian Mayer, Attorney-at-Law Mariella Kapoun, and Associates Christoph Birner, Miriam Baierl, Matthias Emich, and Anna Hiegelsperger, as well as Stuttgart-based Partner Jochen Lamb and Associate Martina Meier-Grom.

Taylor Wessing’s team consisted of Dusseldorf-based Partner Klaus Grossmann and Vienna-based Partners Philip Hoflehner, Andreas Schutz, Martin Eckel, Stefan Turic, and Walter Poschl, Senior Associates Allan Hahn, Andreas Howadt, Matthias Hofer, Philipp Samonigg, and David Konrath, and Associates Constantin Call, Lukas Jamnig, Christopher Bakier, Erik Steiner, Julia Lorincz.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

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