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Thursday, February 22, 2024

Cuatrecasas advises Flamasats on industrial complex acquisition from Siemens Gamesa

Cuatrecasas has advised Grupo Flamasats on its €25 million acquisition from Siemens Gamesa of its industrial complex in Aoiz (Navarra) to set up a new Clipper lighter factory

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The initial investment of €25 million could be increased to €40 million as the phases progress.

The group has acquired facilities with more than 33,000 m2 of warehouses and offices, on a plot of more than 88,000 m2, which will be used to increase its production centres and thus meet the growing demands and needs of its customers. The ambitious project also includes the hiring of between 175 and 250 qualified workers.

Leaders in their respective sectors, Flamasats has two business lines employing more than 1,000 workers. This operation marks the start of what would be the company’s sixth production centre worldwide, dedicated to the manufacture of Clipper brand lighters, the second largest player in the world with 500 million units sold annually.

Cuatrecasas advised Flamasats with a Barcelona office team led by Tax partner Moisés Oller, together with Real Estate counsel Miguel Martí, and associates Claudio Hoyos and Pol Cots.

“Grupo Flamasats will contribute to strengthening industry in Navarre and generate wealth and employment in the area with this investment,” said Moisés Oller.

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