ARQIS has advised Sekisui Plastics Europe on the acquisition of a 75 perc ent share of Proseat and seven other Proseat companies, from Belgian Recticel NV/SA.
Proseat was established in 1999 as a joint venture between Recticel and Canadian partner Woodbridge Foam Corporation to serve Tier 1 and OEM car manufacturers with moulded seat pads and head and armrests in polyurethane. Proseat Group is composed of eight companies in six European countries (Germany, Czech Republic, France, Poland, Spain, and United Kingdom,) and is building on leading position as Europe’s largest independent automotive parts manufacturer (seat-use cushion material, trim parts such as headrests and armrests, and foamed moulding) to European automobile companies.
The automobile industry is undergoing a major transformation as represented by self-driving cars and new energy vehicles. With regard to automotive parts, the need for materials that contribute to a reduced environmental burden, such as weight reduction and thermal insulation, is increasing.
The advisory services of ARQIS included assistance in the legal due diligence in a total of seven jurisdictions, structural advice as well as contract drafting and negotiations. In the process, ARQIS has lead an international and multidisciplinary team consisting of Cuatrecasas (Spain), Dentons (Czech Republic, Poland), Gide (France), NautaDutilh (Belgium) and RPC (UK) as well as Held Jaguttis (Public & Environmental Law/Regulator) and RCAA (Antitrust).
