LERG S.A. signed a purchase contract with CIECH S.A. CIECH Żywice has undergone a number of positive changes in the last two years, including expanding the portfolio with high-margin products, intended for prospective industries, as well as strengthening activities in the R&D area. The company exports approx. 50 percent. of its products, mainly to European countries. CIECH Żywice is located in Nowa Sarzyna and employs approx. 240 people.
The preliminary agreement was signed in July 2020, and the finalization of the transaction required, among others, the consent of the Office of Competition and Consumer Protection. The takeover of CIECH Żywice by LERG is a long-term process, its first formal stage was completed on March 1st.
“The acquisition of CIECH Żywice is a continuation of the long-term strategy of building a strong and safe LERG Chemical Group. Thanks to the acquisition of the company, we are expanding not only the portfolio, among others for the production of epoxy resins, we also combine business goals, vision and values, expand our team of associates, and gather experience and know-how. All this is an added value for our current and future customers in Poland and around the world” – says Agnieszka Kozubek-Bespalenko – Vice President of the Management Board and CEO of LERG.
In the transaction, LERG S.A. was advised by Pekao Investment Banking (financial advisor), Spaczyński, Szczepaniak i Wspólnicy sp.k. and BIL Kancelaria Prawna (legal advisers), and the CIECH Group was supported by Rothschild & Co (financial advisor) and Sołtysiński, Kawecki & Szlęzak (legal advisor).
