McDermott advises TOUAX on the Sale of its Modular Division in Europe to TDR Capital
PARIS (December 21, 2017) – McDermott Will & Emery has advised TOUAX SCA („TOUAX“), a group specialized in the rental, management and sale of sea containers, modular buildings, freight wagons and river barges, on the €165 million sale of Touax Solutions Modulaires SAS (Touax’s Modular Division Europe) to a company controlled by funds managed by TDR Capital LLP.
TDR Capital manages funds that currently hold a controlling interest in Algeco. TDR Capital LLP is considering integrating Touax Solutions Modulaires into its portfolio company Algeco. At this stage, no plan has been formulated and no decision has yet been taken; the integration option is to be discussed in advance with Algeco and Touax Solutions Modulaires employee representative bodies.
The potential integration of Touax Solutions Modulaires into Algeco would be a unique opportunity not only for both companies to strengthen the leadership of the new group in a highly competitive marketplace, but also for its employees, customers and shareholders. TOUAX could thus accelerate its development and strengthen its leadership in its transportation equipment leasing activities. TOUAX is the European leader in container and barges, and the second largest operator of European inter modal wagons.
The multi-disciplinary McDermott team advising TOUAX was led by Transactions partner Henri Pieyre de Mandiargues, and included Ali Afshar Saber, Emmanuelle Turek and Anaël Hadji on corporate aspects, partner Lionel Lesur, Louise Aberg and Elena Chutrova on competition law aspects, counsel Myrtille Lapuelle on labor law aspects as well as Romain Desmonts on tax law aspects.
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