Chiron Group’s Acquisition of HSTEC
Buterin & Partners advised Croatian machine construction firm HSTEC on its sale of a 90% share majority to the CHRION Group.
Ilej & Partners advised the buyer.
HSTEC, whose name stands for ‘high speed technique’, is a development and design company that manufactures high-speed motor spindles for use in machines. The company’s portfolio also includes automation services and clamping devices for machining centres, though it is predominantly known as a market leader in spindle services and repair for in-house products and spindles manufactured by other firms.
The CHIRON Group is a world leader in machining centres headquartered in Tuttlingen, Germany. Its acquisition of HSTEC comes as part of its global growth strategy, strengthening its capability in designing, developing, manufacturing and assembling motor spindles and turning spindles for its centres. Under the new name CHIRON Croatia, the group’s latest acquisition has helped establish a stronger presence in Eastern Europe. Current HSTEC CEO Mladen Šarlija has been appointed managing director of CHIRON Croatia. The HSTEC brand will be continued under the CHIRON umbrella.
Buterin & Partners advised HSTEC with a team comprising partners Zvonimir Buterin and Valentina Kučić. Their contributions involved assistance in preparation and conduct of the legal due diligence, drafting of amendments to the SPA and other transaction documentation and assistance in negotiations. It also involved representation before the competent bodies.