P+P advised management on sale of TEGA GmbH to DCC
DCC Germany Holding Gmbh, a subsidiary of the Irish company DCC, acquired TEGA Technische Gase and Gasetechnik GmbH ("TEGA") from Linde AG as part of an auction. The transaction is still subject to the approval of the responsible antitrust authorities and should be executed during the first quarter of 2018. The parties have agreed to maintain confidentiality with regard to the sale price.
TEGA specializes in the liquid gas and refrigerant business and employs approx. 100 people in Germany in five locations. The company supplies approx. 15,000 residential and commercial customers per year and recently realized an annual turnover of 75 million Euro. Moreover, with a nationwide network of over 200 distributors in Germany, TEGA is a leader in sales of refrigerants for use in air conditioners, commercial cooling systems and refrigerators.
Linde AG is one of the leading gas and engineering companies in the world, with a turnover of EUR 16.948 billion in fiscal year 2016. The group has approximately 60,000 employees in over 100 countries.
DCC is an international service provider listed in the FTSE 100 on the London stock exchange. In the last fiscal year, the company generated a turnover of over EUR 12 billion.
P+P Pöllath + Partners advised TEGA's management on the transaction with the following Munich-based team: