Hengeler Mueller advises LEONI on the sale of the Industrial Solutions business group to BizLink

LEONI sells the business group Industrial Solutions, which belongs to the WCS division (Wire & Cable Solutions) and represents significant parts of its industrial business, to BizLinkHolding Inc. Bizlink is an international provider of solutions for cables and connectivity services. The sale includes around 20 international locations of the LEONI Industrial Solutions business in ten countries with around 3,000 employees.

The sale marks another important milestone on LEONI's path towards the long-term stabilisation of the company. The sold activities generated sales of approximately EUR 430 million in fiscal year 2020 and are valued with an enterprise value of around EUR 450 million. The closing of the transaction is still subject to approval of LEONI AG's financing banks and customary closing conditions, including merger control and investment review, and is expected in early 2022.

Hengeler Mueller advises LEONI on the transaction. The team is led by Daniel Wiegand and Elisabeth Kreuzer (both M&A) and includes partners Simon Link (Corporate/Capital Markets), Matthias Scheifele (Tax) (all Munich), Dirk Uwer (Public Law, Düsseldorf) and Christian Hoefs (Employment, Frankfurt), counsel Matthias Rothkopf (IP/IT) and Moritz Rademacher (Public Law) (both Düsseldorf) as well as associates Florian Dendl, Florian Braun, Christian Lutz, Isabella Stocks (all M&A), Lisa Kopp (Corporate) (all Munich), Marius Marx (Tax), Andreas Kaletsch (Employment) (both Frankfurt), Caroline Beyersdorf, Sarah Milde (both Antitrust, Munich) and Carsten Bormann (Public Law, Düsseldorf).