Wegener to acquire the Danish steel business Ib Andresen Industri
Plesner acted as lead counsel for the sellers in connection with the sale of IAI.
Ib Andresen Industri is a leading European provider of steel service centre services, roll-formed steel profiles and sheet metal processing (primarily from coils). Since Ib Andresen founded Ib Andresen Industri in 1967, the IAI group has been operated and owned by the Andresen family, and today the group has more than 500 employees, processing approx. 500,000 tons of steel annually. IAI has subsidiaries in Denmark, Sweden and Norway.
During the process of finding the right buyer to continue the operation of the IAI group, the Andresen family has placed emphasis on selling the group to a company that is well respected, family run and - not least - able to continue and strengthen IAI's prominent market position.
Wegener GmbH is a German steel company, family-owned in the third generation, and is particularly recognised for its extensive expertise and commitment to high-quality steel solutions.
The sale of IAI to Wegener GmbH positions the company as a key player in the North European steel industry and strengthens its competitive edge in a market known for strict industrial requirements and high standards for the quality of materials.
Wegener GmbH's strategic acquisition of IAI also ensures that IAI's steel service centres will continue to operate as an independent unit, serving steel mills, as well as steel wholesalers and major industrial customers. This contributes to maintaining integrity and the customers' trust after the takeover and in the future operation.
The transaction is subject to customary regulatory approvals and is expected to be completed within three months.
Plesner's core M&A team on the transaction consisted of Henrik Rossing Lønberg, Tina Kang, Christian Frank Madsen, Isolde Hede Søe, Rógvi Magnussen and Gustav Gerner Sjalin.