Sidley advised Schur Flexibles Group, an international flexible plastic packaging manufacturer, with operations in, inter alia, Germany, Austria, Italy, Greece, France, Ireland, the United Kingdom, and Slovakia, on its successful financial restructuring. The lender-led deal foresees significant contributions by key stakeholders and encompasses the key lenders taking over the equity in the Group from the former shareholders, a significant reduction of the senior secured bank credit facilities and the provision of up to €160 million new money financing. The Sidley team worked closely with the CRO Josef Schultheis, PJT Partners, Alvarez & Marsal, and KPMG.
Sidley’s pan-European team was led by Restructuring partners Kolja von Bismarck and Andreas Steiger (both Munich) and included Patrick Schulz, Andreas Bauman, and Tom Kimmel (Restructuring, Munich); James Crooks, Nils Gravenhorst, Jacques Stivala, Henry Sasse (trainee solicitor), and Andrew Lecky (trainee solicitor) (Global Finance, London); Jifree Cader, Molly Dyas, and Luke Mason (Restructuring, London); Markus Feil, Christoph Jensen, and Christian Axhausen (Global Finance, Munich); Roderic Pagel and Jacob Schreiber (Tax, Munich); and Björn Holland (Private Equity and M&A, Munich).
