Weil has advised Lone Star Funds (“Lone Star”) on the acquisition of ContiTech, the material solutions group of Continental AG (“Continental”).

ContiTech is one of the world’s leading providers of mission-critical engineered rubber, thermoplastic and fabric technology solutions to customers in a wide range of industries, and employs around 22,000 people. As part of the transaction, the company was valued at an enterprise value of €4.0 billion, plus potential performance-based components of up to €250 million in subsequent years.

With this acquisition, Lone Star takes over ContiTech’s global business, continuing its strategy of investing in leading industrial companies with significant development potential. Continental, in turn, will focus on its tire business going forward, further advancing its transformation into a dedicated tire manufacturer.

For Weil, a pan-European team is advising on one of the most significant large-cap private equity mandates in Germany in recent times – further evidence of the Firm’s close, cross-office collaboration, and illustrating the depth and strength of its European private equity platform.

Completion of the transaction is subject to customary regulatory approvals.

The international Weil team worked seamlessly across offices. On the Corporate side, the team was jointly led by Sebastian Pauls, Manuel-Peter Fringer (both Munich) and Max Oppenheimer (London), together with counsel Julia Schöfer (Munich). The wider cross-border Weil team included Frankfurt partner Kamyar Abrar (Private Equity), Barbara Jagersberger (Private Equity, Munich) Benjamin Rapp (Tax, Munich), Florian Dehmel (Employment, Munich), Brussels partner Niklas Maydell and Munich partner Niklas Brüggemann (both Antitrust), London partners Oliver Walker (Tax) and Chris Marks (Litigation) and counsels Konstantin Hoppe (Litigation, Munich), Nicholas Barnabo and Luca Montani (Antitrust, London and Brussels), as well as associates Alexander Reich, Daniel Reich (both Tax, Frankfurt), Natalia Bellomo (Antitrust, Brussels), Manuel Schmutzler, Christopher Maier, Kevin Mägerle, Lucas Valio Ottowitz, Sophia Niedermeier, Laurin Schmidt, Hannah Bischoff, Maximilian Kuchernig (all Private Equity, Munich), Ramona Fehringer, Alexander Stegmaier (Litigation, Munich), Álvaro Salgado (Litigation, Brussels), Daniel Matijevic (Employment, Munich), Enda Kerin (Tax, London), Margaret Babalola and Joe Payne (London, Private Equity), Sven Jelinek (Antitrust, Munich), Colin Cox (Private Equity, New York), Hans-Christian Mick, Josef Matoussi (both Finance, Frankfurt), Rustin Armknecht (Tax, New York), and Juan Arias (Specialist Corporate, New York).