Wolf Theiss has advised the shareholders of Adeplast on the sale of 100% of its shares to the Sika Group. The buyers were advised by Eversheds Sutherland on the transaction, which remains subject to clearance by various anti-trust authorities.
Adeplast is a Romanian manufacturer of mortars and thermal insulation solutions that is headquartered in Ploiesti, 70 kilometers north of Bucharest. The company generates sales of EUR 110 million and has a workforce of over 450 employees.
"Adeplast's acquisition by Sika is most certainly a landmark transaction for the Romanian economy,” said Daniel Stancescu, CEO of Adeplast. “Adeplast represents outstanding Romanian entrepreneurship reaching global strength and visibility once the acquisition will be cleared by the Romanian Competition Council.”
Sika is a chemicals company in the business of development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. According to Wolf Theiss, “It has subsidiaries in 101 countries around the world and manufactures in over 300 factories. Sika employs more than 24,000 people and is forecasting sales of over CHF 8 billion for fiscal 2019.”
Wolf Theiss’ Bucharest-based team was led by Partner Ileana Glodeanu and included Counsels Mircea Ciocirlea and Adelina Iftime-Blagean and Associates Luciana Tache, George Ghitu, Cornelia Postelnicu, Alexandru Roman, Andrei Salagean, Nina Lazar, and Sorin Dumitru.
The Eversheds Sutherland team included Managing Partner Cristian Lina, Senior Associate Carolina Pletniuc, Associate Irina Stoicescu, and Junior Associate Livia Galan.