Esselte acquires Isaberg Rapid
Mannheimer Swartling has advised Esselte in connection with its acquisition of Isaberg Rapid from the Nordic private equity fund Segulah.
Esselte is a leading global office supplies manufacturer owned by U.S.-based private equity investment firm J.W. Childs. With annual sales of over USD 1 billion, Esselte employs approximately 5,000 people and sells office products in over 120 countries. This acquisition is set to expand Esselte’s presence in the office machine segment as Isaberg Rapid is one of the world’s leading companies in the stapling business. Isaberg Rapid’s revenues in 2008 were approximately SEK 1 billion from sales in over 140 countries.
The transaction is expected to be completed during the first quarter 2010 and is conditioned upon, amongst others, approvals from relevant competition authorities.
Mannheimer Swartling’s team handling the instruction was led by Martin Ericsson. Ann-Charlotte Högberg was the project leader for the transaction, assisted primarily by Elise Avsan and Queenie Chen. Stefan Perván Lindeborg was responsible for competition law issues, assisted primarily by Urszula Sieradzka.
The matter involved Mannheimer Swartling’s offices in Shanghai, Brussels, Berlin and New York and the project included involvement of local counsel in six countries. Mannheimer Swartling practice groups also contributing in the matter include banking and finance, corporate commercial, employment, environment, intellectual property and real estate.