Rieter to acquire Barmag from OC Oerlikon

Rieter Holding AG agreed to acquire Barmag from OC Oerlikon Corporation AG for an enterprise value of CHF 850 million, plus additional earn-out components if certain financial criteria are achieved by 2028. The acquisition creates a well-equipped player in natural and manmade fibers, headquartered in Winterthur, Switzerland, and is highly complementary to Rieter's short-staple fiber business. The acquisition is subject to customary closing conditions.

The acquisition financing is secured by a bridge loan facility. Refinancing of the bridge facility will happen through a fully underwritten CHF 400m rights issue with tradable subscription rights, a CHF 75m non-pre-emptive capital raise and a bank financing. 

Lenz & Staehelin acts as lead counsel to Rieter. The team is led by Tino Gaberthüel and Simone Ehrsam (both M&A) and includes Lukas Held, Arnold Romero, Andrin Scherrer (all M&A), Patrick Schleiffer, Patrick Schärli, Martina Pavicic (all Capital Markets), Marcel Tranchet, Sven Infanger (both Finance), Astrid Waser, Sandro Travaglini (both Antitrust), Lukas Morscher, Lukas Staub (both IT, Transitional Services), Peter Ling, Anna Züst (both IP), Anja Affolter Marino and Elena Nauer (both Employment).