Squire Patton Boggs has advised Miele & Cie. KG on the acquisition of a majority stake in Italian medical technology manufacturer Steelco.
An independent family-owned manufacturing company based in Gütersloh, Germany, Miele is known as one of the world's leading manufacturers of domestic appliances for the kitchen, the laundry room and for floor care, as well as machines for use in commercial operations and medical facilities ("Miele Professional"). The Miele group, which generated a sales volume of €3.93 billion in the year 2016/17, employs 19,465 people worldwide.
Steelco, a leading producer of cleaning and sterilizing equipment mainly for the hospital and pharma sectors, was founded in 1998 and is based in the town of Riese Pio X in the northern Italian province of Treviso. The company employs a workforce of around 400, achieved a turnover of €71 million in 2016 and has been recording double-digit growth for many years.
The cross-border team of advisors consisting of lawyers from Squire Patton Boggs and Italian law firm R&P Legal was led by Jost Arnsperger, Corporate partner in the Berlin Office of Squire Patton Boggs. Dr. Christofer Eggers, Competition–Antitrust partner in the Frankfurt office of the firm, who has been advising Miele for many years, advised on the cartel law aspects of the transaction.