PRK Partners joined lead counsel Luther Rechtsanwaltsgesellschaft and advised on the sale of I.G. Bauerhin Group to Lear Corporation
PRK Partners joined lead counsel Luther Rechtsanwaltsgesellschaft and advised on the sale of I.G. Bauerhin Group (IGB Group) to US automotive supplier Lear Corporation.
The transaction covers all locations of the IGB Group in Germany, Canada, China, the Czech Republic, Mexico, Serbia and Vietnam with more than 4,000 employees and, in particular, the existing customer contracts and customer relationships. The transaction is subject to approval by the relevant antitrust authorities.
PRK Partners' involvement was aimed at the Czech legal aspects of the transaction, including reviewing and preparing the transaction documentation. Jan Kohout, a senior partner at PRK Partners, led the team consisting of attorneys Norbert Hink and Shiyang Zhang.
Located in the greater Frankfurt area, Germany, the IGB Group has been supplying the automotive industry with innovative electric seat heating systems since 1976. Starting from its Gründau site, IGB Automotive has developed into an internationally active company whose products are relied on by almost all vehicle manufacturers. In addition to seat heaters, IGB today also offers its customers ventilation systems, active cooling systems, steering wheel heaters, HOD systems, seat sensors and electronic control modules.