SH advises on international expansion of US flooring manufacturer
7 March 2012
International law firm Stephenson Harwood has advised Mannington Mills, one of the oldest and largest US based flooring manufacturers, on the acquisition of Amtico International, a manufacturer of high-quality luxury vinyl flooring products.
Stephenson Harwood provided and coordinated full commercial legal advice for the acquisition, not just in the UK but also in France, Germany and Sweden (countries where Amtico also has a presence).
Mannington Mills, based in New Jersey, USA, is a fourth generation family-owned company that manufactures and markets residential and commercial resilient, laminate, hardwood and porcelain tile floors as well as commercial carpet and rubber. Mannington's purchase of Amtico expands the company's global market reach as well as the scope of its domestic manufacturing capabilities. Amtico will retain its brand identity, operating as a Mannington subsidiary.
Commenting on the deal, corporate partner Duncan Stiles said: "We are extremely pleased to have assisted on this transatlantic acquisition. This is an exciting opportunity for Mannington to acquire one of Europe's best known flooring companies and expand its global reach. Both Mannington and Amtico are recognised as market leading businesses and are well known for cutting edge design, quality, innovation and customer service."
The cross-departmental and office Stephenson Harwood team was led by corporate and Mannington relationship partner Duncan Stiles, assisted principally by corporate associate, Charlotte Laing. James Linforth led a finance team of Jonathan Proctor and Hannah Jones on the complex financing arrangements for the deal; while key tax structuring advice was provided by tax partner, Maryanna Sharrock and associate, Will Mann.
In addition, partners Paul Reeves (employment), Mark Catchpole (pensions), Stephen Laud (real estate) and Andrew Wiseman (environmental) coordinated the provision of specialist advice to Mannington; while Patrick Mousset and his team in Paris advised on the French law corporate and security aspects.
Heuking Kühn Lüer Wojtek assisted on matters of German law and Setterwalls on Swedish law. US advice to Mannington was provided on the corporate side by Pepper Hamilton and on the finance side by Saul Ewing.
AAC Capital Partners, the majority owner of Amtico, was advised by a CMS Cameron McKenna team led by corporate partner, Andrew Sheach.
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