Loyens & Loeff congratulates Balta Group with the sale of its Rugs, Residential PP and Non-Woven businesses to Victoria
We assisted Balta Group on the sale of its Rugs, Residential polypropylene (PP) and Non-Woven businesses to Victoria.
Loyens & Loeff proudly assisted Balta Group (XBRU: BALTA), the largest producer of textile floor coverings in Europe, with the sale of its Rugs, Residential PP and Non-Woven businesses, together with the Balta brand to Victoria PLC (LSE: VCP), a United Kingdom-based leading designer, manufacturer and distributor of flooring products.
The acquisition is expected to be completed in Q2 2022 and has a value of €225 million on a debt and cash free basis.
The deal will allow Balta Group to focus on developing its commercial businesses in Europe and the United States under the main brands modulyss and Bentley Mills, as well as its premium European Residential polyamide business, with a stronger cash flow and balance sheet.
The team was led by Partner Robrecht Coppens, Senior Associate Mathias Hendrickx and Associate Céline De Vuyst (Corporate/M&A) with the support of our Belgian colleagues Marc Vermylen, Filip Saelens, Stéphanie De Smedt, Julien Lecler, Wannes Buelens, Eline De Ryck, Eugénie Mennig, our Dutch colleagues Marc Wiggers, Robin Struijlaart and Robert Fröger and our Luxembourg colleagues Michael Scott, Madeleine Marques and Diogo Morgado Filipe.
Our team was involved in all legal aspects of this complex transaction and led the negotiations for Balta Group.
Read the press release here.
Marc VermylenManaging Partner Belgium Attorney at Law
Marc Vermylen is Managing Partner of Loyens & Loeff Brussels. He is a member of Loyens & Loeff’s Banking & Finance Practice Group and heads the global Projects Team at Loyens & Loeff. He is recognised worldwide as an expert and influential lawyer in banking law and finance law.T: +32 2 743 43 15 M: +32 475 52 31 66 E: [email protected]
Filip SaelensPartner Attorney at Law
Filip Saelens, attorney at law, is a local partner of the Employment & Benefits practice group in Belgium. He has over 30 years’ all-round experience in collective and individual employment law, with a particular focus on reorganisations and transformations, executive compensation, international mobility and the employment aspects of, mostly international, M&A-deals.T: +32 2 773 23 29 E: [email protected]
Stéphanie De SmedtCounsel Attorney at Law
Stéphanie De Smedt, attorney at law, is a member of the Litigation & Risk Management practice group in our Brussels office. She is head for Belgium of the IP/IT & Commercial Contracts Team, the Data Protection Team and the Life Sciences Team.T: +32 2 773 23 77 E: [email protected]
Julien LeclerCounsel Attorney at Law
Julien Lecler, Counsel, is a member of the Real Estate practice group and of the Public & Administrative Law practice group in our Brussels office. He focuses on all aspects of real estate law (civil law, rights in rem, construction law, leases) including public real estate law.T: +32 2 773 23 59 M: +32 473 71 34 39 E: [email protected]
Wannes BuelensAssociate Attorney at Law
Wannes Buelens is a member of the Litigation & Risk Management practice group in our Brussels office. He specializes in health law, liability law and insurance law. He is also a member of the firmwide Healthcare & Life Sciences Team.T: +32 2 773 23 72 M: +32 4 94 43 31 04 E: [email protected]
Michael ScottPartner Attorney at law / Solicitor / Avocat à la Cour
Michael Scott, partner, is a member of the Corporate Practice Group in our Luxembourg office and co-heads the Luxembourg Restructuring Team. He focuses on private equity transactions, mergers and acquisitions and distressed debt restructurings. He mainly advises US and UK based clients investing through Luxembourg to European or other target jurisdictions.T: +352 466 230 294 M: +352 691 963 026 E: [email protected]
Madeleine Marques, associate, is a member of the Corporate practice group in our Luxembourg office and a member of the Restructuring Team. She focuses on private equity transactions, mergers and acquisitions and distressed debt restructurings.T: +352 466 230 211 E: [email protected]
Diogo Morgado FilipeSenior Associate Attorney at law
Diogo Morgado Filipe, senior associate, is a member of the Corporate practice group in our Luxembourg office and a member of the Restructuring Team. He focuses on corporate restructurings, Private Equity, M&A, Corporate Finance and general Corporate Law.T: +352 466 230 594 E: [email protected]