McDermott Advised Evonik Industries AG on $3.8 billion Acquisition of Specialty Additives Business of Air Products and Chemicals, Inc.
NEW YORK (January 10, 2017) – International law firm McDermott Will & Emery represented the leading specialty chemicals company Evonik Industries AG in its acquisition of the worldwide Performance Materials Division of Air Products and Chemicals, Inc. for $3.8 billion. The transaction, initially announced on May 6, 2016, was successfully completed on January 3, 2017.
McDermott advised Evonik as lead outside counsel on all key aspects of the transaction, which Evonik has said will put Evonik in an excellent position for further profitable growth in the attractive specialty additives market.
McDermott’s core deal team consisted of US partners Thomas Sauermilch, Brian Hoffmann, Elissa Port, Meir Lewittes and Ling Kong (Corporate); Diane Morgenthaler, Maureen O’Brien and Steve Erf (Employee Benefits/Employment); Daphne Trotter (Environmental); Raymond Jacobsen, Joel Grosberg, Andrea Hamilton and William Diaz (Antitrust); Ankur Gupta (Real Estate), Daniel Zucker (Tax) and Carey Jordan (IP) and involved numerous other specialists in McDermott’s offices worldwide.
“We’re pleased to have been working with our client Evonik in this high-profile strategic acquisition,” said Mr. Sauermilch, a New York partner who has led a number of large cross-border M&A deals involving European companies. “It highlights McDermott’s ability to field a large international deal team covering all key facets of a large cross-border transaction,” he added.
McDermott’s M&A practice combines its market knowledge and deal execution skills to help clients achieve their transactional strategies. Many of our clients’ deals have a cross-border dimension. With offices located in Asia, Europe and the United States, we have the ability to represent clients’ transactional needs globally regardless of jurisdiction. Moreover, we possess deep industry knowledge in key markets, including energy, telecommunications, media and technology, chemicals, aerospace and defense, mining and metals, life sciences, food and beverage, and health care. What distinguishes McDermott’s M&A capabilities is our team work and comprehensive transactional offering – regulatory and antitrust, environmental, tax, labor and employment, intellectual property, financing and, when necessary, litigation – with those services provided by highly recognized and ranked lawyers.
About McDermott Will & Emery McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, DC. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.