Schoenherr advised Singapore-based Harps Global PTE. LTD on the acquisition of the medical business division (Sempermed) from Austrian Semperit Group for an enterprise value of EUR 115m.
Sempermed manufactures, distributes and sells medical examination and surgical gloves. The seller, Semperit Technische Produkte GmbH, is a subsidiary of the Vienna Stock Exchange listed Semperit AG Holding. The transaction was signed in Vienna on 16 December 2022. Closing is subject to regulatory clearances and is expected in the second quarter of 2023.
Harps Global is the holding company of Malaysian glove manufacturer Harps Holdings Berhad. Founded in 2015 by Malaysian entrepreneur Haziq Bin Zairel Oh, Harps Holdings is a fast-growing manufacturer and distributor of nitrile examination gloves based in Teluk Intan, Perak, Malaysia. Harps set up Harps Global as its headquarters in Singapore to act as the holding company and regional hub for the Harps group.
The Schoenherr team advising on all Austrian and Hungarian aspects of the transaction was led by both Christian Herbst (partner) and Maximilian Lang (partner). It also included Volker Weiss (partner), Kinga Hetényi (partner), Constantin Benes (partner) as well as Teresa Waidmann (counsel), Zurab Simonishvili (attorney at law), Evelin Hlina (counsel), Iliyana Sirakova (counsel), Nina Zafoschnig (attorney at law) and Markus Fasching (associate).
Credit Suisse acted as financial advisor to HARPS Global.