Khaitan & Co advised HLE Glascoat Limited, a public listed company in India (Bombay Stock Exchange) in relation to its acquisition of the global business of Thaletec GmBH, Germany as well as its subsidiary Thaletec USA. The acquisition will enhance efficiencies and combine the similar business interests for both the entities, resulting in operational synergies, streamlining and optimization of the businesses.
HLE Glascoat Limited is a leading manufacturer of process equipment for the chemical and pharmaceutical industries and has established itself as a market leader in Filtration and Drying Equipment and Glass Lined Equipment. HLE Glascoat Limited executed definitive agreements to acquire the global business of Thaletec GmbH, Germany as well as its subsidiary Thaletec USA Inc., as a part of its strategy to cement its position further in the global markets with innovative technology. Pursuant to the acquisition, Thaletec will become a wholly owned subsidiary of HLE Glascoat with the entire business of Thaletec being consolidated into the Company. Since both HLE Glascoat and Thaletec are engaged in similar and synergistic lines of business and operations, incremental improvements in the operations of the two companies are expected.
Thaletec GmBH is engaged in the business of manufacturing specialized process equipment/ reactors sophisticated customized and innovative technical solutions with glass lining and has its manufacturing facility in Germany. It is one of the most reputed companies in the process manufacturing equipment segment in Europe.
The Khaitan & Co team consisted of core team consisted of Sameer Sah (Partner), Aman Anand (Senior Associate), Sayani Bhattacharyya (Associate)
The other law firms engaged in the transaction are as follows: