Clearwater International has acted as sole financial adviser to Wieland-Werke AG on the structuring and the arrangement of a bridge acquisition financing facility (self-arranged), with a volume of €1.1bn, for the complete acquisition of New York Stock Exchange (NYSE) listed Global Brass and Copper Holdings, Inc.
The financing was structured and arranged in a very tight timeframe alongside the merger and due diligence process. Other challenges were the strict and complex regulatory requirements regarding financing for public takeover offers in the US.
The transaction, which is the largest acquisition in the 200 years history of the company, enables Wieland to significantly expand its geographic footprint and provides the company with a fully integrated value chain within North America.
The Wieland Group is headquartered in Ulm, Germany, and is one of the world’s leading manufacturers of semi-finished products in copper and copper alloys, with more than 8,000 employees. As an international group, the Wieland Group possesses manufacturing facilities, slitting centres and trading companies in many European countries, as well as in the US, South Africa, Singapore, China and India. The Wieland Group generated sales of approximately €3.5bn in the financial year 2018/19.