Herbert Smith Freehills has advised Groupe Atlantic, a leading European producer of heating, ventilation and air conditioning equipment and a long-standing client of the firm's Paris office, on the acquisition of 45% of the residential heating solutions business of SST Group and related joint venture arrangements.
The transaction involved the purchase by Groupe Atlantic of businesses located across Russia, Germany, Belarus, Ukraine and Kazakhstan, which enabled Groupe Atlantic to pursue its strategy for profitable growth in international markets.
Herbert Smith Freehills advised Groupe Atlantic on all aspects of the transaction, including multi-jurisdictional due diligence, restructuring, employment and commercial arrangements and transaction documentation.
Alexei Roudiak, Head of Corporate, EMEA and Moscow Managing Partner, commented: "This is a significant milestone both for Groupe Atlantic in its expansion strategy and for the firm in assisting our long-standing client in its first venture into a new market. We are happy to see investments from the EU being made into Russian businesses, despite the protracted political turbulence".
Artjom Tamaev, Of Counsel, commented: "We are very pleased to have had the opportunity to advise Groupe Atlantic on this complex and technically demanding transaction, and we wish Groupe Atlantic well for the continued growth of their business."
SST Group is the largest producer of heated floors and heating cables in Russia and the CIS and one of the top three global providers of heating cable solutions. The Group's residential business provides a wide range of residential heating solutions for indoor and outdoor home use.
The team in Moscow included Alexei Roudiak; Artjom Tamaev; associates Olga Stepanova, Sergey Kolobov and Alexander Chuprunov; and trainee Yulia Sobko. The team also included lawyers in the firm's Frankfurt office, including counsel Ruediger Hoffman and associates Julian Gebauer and Ralf Tietz.