Swiss Steel Group signs a definitive agreement for the divestment of several non-core distribution companies
Niederer Kraft Frey advised Swiss Steel Group on its entry into an agreement for the sale of several distribution companies to JACQUET METALS.
The transaction encompasses entities in the Czech Republic, Poland, Slovakia, Hungary, Lithuania, Estonia and Latvia that have generated a total net revenue of EUR 158 million and an EBITDA of EUR 12 million in 2022 with 267 employees by selling mostly non-Swiss Steel Group products. This divesture is an important step for Swiss Steel Group on its strategic pathway focusing on a global distribution network that promotes and sells own mill products.
Swiss Steel Group is one of the world’s leading providers of individual solutions in the special long steel products sector. The Group is one of the leading manufacturers of tool steel and non-corrosive long steel on the global market and one of the largest companies in Europe for alloyed and high-alloyed quality and engineering steels
Completion of the transaction is subject to customary closing conditions including approval by the relevant antitrust authorities.
The NKF team was led by partners Philippe Weber and Deirdre Ní Annracháin, working with associate Paloma Alcántara (all Corporate/M&A).