CMS acts for Hexpol on Unica acquisition

CMS Albiñana & Suárez de Lezo has advised Swedish group Hexpol on the acquisition of 100% of Spanish rubber compounder Unión de Industrias C.A. (Unica)

Sweden company Hexpol AB has signed an agreement to acquire 100% of Unión de Industrias C.A., S.A. (Unica) from Espiga Capital, a Spanish-based Private Equity firm. Unica is a significant player in Rubber Compounds in Spain, supplying several demanding customers in the automotive, construction and agriculture sectors.

“Through the acquisition of Unica, we will strengthen our position in rubber compounds for demanding customers in Spain and other EU countries. Unica will be a perfect complement to our existing operations in Spain, mainly active in other sectors,” Said Ralph Wolkener and Carsten Rüter, presidents of HEXPOL Compounding Europe/Asia.

During the last few years, Unica has made significant investments in equipment and technology and is well-positioned to support the transforming automotive market in Southern Europe. The company’s strong and experienced management team will stay with the company and further drive growth and technical excellence.

“I am pleased to welcome the Unica team, which we have great respect for, to the Hexpol Group. Unica’s focus on customer satisfaction and quality fits perfectly in our Group,” said Georg Brunstam, president and CEO.

Unica’s turnover in 2020 amounted to €40 million with profitability below HEXPOL Group. Unica operates one advanced compounding facility in Corella, Navarra, Spain with some 80 employees.

The acquisition price amounts to approximately €48 million on a cash and debt-free basis and is funded by a combination of cash and existing bank facilities. The transaction will close after regulatory approval, which is estimated to the second quarter of 2021.

CMS Spain advised Hexpol with a team led by Corporate/M&A partner and chairman Rafael Suárez de Lezo (pictured left) and Barcelona office Corporate/M&A counsel Pedro Ferreras (pictured top right). The rest of the team was made up of Competition & EU partner Carlos Vérgez (pictured bottom right), Competition & EU senior associate Aida Oviedo, Corporate/M&A senior associate Guillermo Donadeu, Insurance senior associate Jorge Etreros, IP associate Ricardo Gómez-Barreda, Public Law & Regulated Sectors associate Nora Pallaruelo, Corporate/M&A associate Álvaro Valentín, Employment associate Carmen Bardi, Real Estate associate María Redondo, IP associate Antonio Negueruela and Employment associate Guillermo Castro.

Desire Vidal