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Dentons advises on the largest ever Czech investment in the US

Dentons has advised PFNonwovens Inc., a member of the Prague-based R2G Rohan nonwovens group, in connection with its entry into an agreement to acquire First Quality Nonwovens Inc. and First Quality Nonwovens (Wuxi) Co., Ltd., leading US and China manufacturers of nonwovens for consumer, health care and industrial products.  Dentons also advised PFNonwovens and the R2G Rohan group on the financing of the acquisition, which is being provided by Československá obchodní banka, a. s. (ČSOB) and KBC Bank N.V., New York branch. The transaction is subject to customary closing conditions, including receipt of all relevant regulatory and antitrust approvals.

This is the largest outbound investment made by a Czech group in the United States. 

“We are very proud to have the opportunity to support PFNonwovens on this groundbreaking transaction“, said Rob Irving, the co-chair of Dentons’ Europe and Global Private Equity groups, who co-led the Firm’s deal team along with New-York-based M&A Partner Ilan Katz. “It also demonstrates our ability to deploy an international, cross-practice team to successfully deliver a strategic investment for the benefit of our client”.

“Dentons is excited to assist a leading CEE family office in connection with their first investment in the US” said Ilan Katz. ”The process is an impressive success for PFNonwovens”.

“We were pleased to have Dentons by our side to facilitate a smooth and efficient acquisition process,” Michal Smrek, CEO at R2G Rohan group, said.

The Dentons M&A team was co-led by partners Rob Irving (Budapest) and Ilan Katz (New York), supported by a team of more than 30 lawyers across 11 Dentons offices in the US, Europe, UK and Asia. The full team included, among others, Partners Tim Santoli (Tax), Michael Maryn (Benefits), Joel Bock (IP), Matt Adams (Environmental), Danette Davis (Real Estate), Senior Managing Associate Adam Dunst, Managing Associate Asher Bundlie, and Associate Greg DiBella (all US), Partners Frank Niu and Kaiming Cai (both Beijing) and Counsel Susan Wang (Budapest), as well as Partner Alex Tan and Associate Lim Yu Herng (both Singapore). Rob Irving also led Dentons team on the financing of the acquisition, supported by Partners Jiří Tomola (Prague) and Lee Smith (New York) and Associate Martin Manduľák (Prague).