HVG Law has advised the sole shareholder of Polyplastic on the sale of all shares in the capital of Polyplastic to LCI Industries, a US listed group.
Polyplastic, located in Rotterdam, the Netherlands, with approximately 200 employees, is a manufacturer of a wide variety of lightweight acrylic glazing solutions. Polyplastic has developed into a leading manufacturer and supplier of both standardized and customized acrylic glass windows for caravans, mobile homes and other recreational and e-mobility vehicles. In addition, Polyplastic develops and produces acrylic cooling doors and accessories under its brand name doubleCOOL for e.g. the supermarket industry.
Polyplastic is now part of LCI Industries or Lippert Components. As a part of this US listed group of companies, Polyplastic expects to further strengthen its position in the market and to realize growth in new markets. For LCI, the acquisition means a further extension of its portfolio of group companies and a further strengthening of its position in the European market for caravans, mobile homes and other recreational and e-mobility vehicles, as well as supermarkets.
The transaction is subject to approval from the German competition authority. Parties expect to close the acquisition in the first quarter of 2020.
Sijmen de Lange: “HVG Law has worked for many years for Polyplastic in various legal matters. This time the task was very fundamental: assist the company in its business succession. We succeeded in accomplishing this at an optimal value at good terms.”