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Lakatos Koves and Partners Advises Coats on Sale of Thread Factory in Hungary

Lakatos Koves and Partners Advises Coats on Sale of Thread Factory in Hungary

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Lakatos Koves & Partners has advised Bristol-based industrial thread manufacturer Coats on the sale of its thread factory in Ujpest, Hungary.

According to LKT, the predecessor of the Ujpest thread factory was founded in 1923 and, under various names, was one of the dominant companies in the Hungarian textile industry during the 20th century. Coats purchased the factory in the privatization process in 1990, with the plant resuming its original activities.

Coats is a manufacturer of thread and structural components for apparel and footwear and develops performance materials.

According to the firm, Coats has factories in various countries around the world, with the Coats Magyarország Kft. operation in Hungary having "played a very important role throughout the last decades." However, the company decided to move its production operations from Hungary to Romania.

The LKT team was led by Partner Attila Ungar and Senior Lawyer Katalin Losonci and included Junior Lawyer Fanni Balas.

Hungary Knowledge Partner

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

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