Member Article

Bond Dickinson advises Dynea on the sale of its Irish operations and Mold activities

Lawyers at national firm Bond Dickinson, which has offices in Newcastle and Stockton on Tees, have advised international adhesive provider Dynea on the sale of its Irish operation, Dynea Ireland Limited, as well as the activities of Dynea’s Mold site, to Synthite Limited and TS Resins Limited, both subsidiaries of Tennants Consolidated Limited.

The transaction was undertaken on behalf of Bond Dickinson’s client, Dynea Chemicals OY, a company registered in Helsinki, Finland.

Dynea Ireland and Dynea Mold will continue to manufacture resins for various end markets. Dynea Mold will continue to manufacture resins for other Dynea entities. The sale of the Irish and Mold operations is in line with Dynea’s strategic goal to return value to its shareholders.

Corporate partner Philip Ashworth led the team who advised Dynea on this transaction. He was assisted by associate Matthew Smith and solicitor Sam Malpass, along with lawyers from across the tax, employment, pensions and IP teams.

Philip commented: “We are delighted to have completed this deal on behalf of our client Dynea Chemicals OY. The transaction was very complex in nature and involved a number of jurisdictions, so it is especially pleasing to have been able to apply our expertise to bring it to fruition.”

Kyosti Siltala, general counsel, Dynea Group commented: “The commercial and pragmatic approach of the Bond Dickinson team, together with their experience and skills in the field, ensured that the challenges in bringing this transaction to a close were dealt with pro-actively. We are very much grateful to Philip and his team for their efforts during this process and look forward to working with them again in the future.”

This was posted in Bdaily's Members' News section by Bond Dickinson .