ALTANA advises the group SANKEN SANGYO in connection with the acquisition of ATHERM

04/10/2019 - Articles and publications

ALTANA advises the Japanese industrial group SANKEN SANGYO, alongside the French industrial group S.E.R.E.S., in the context of the acquisition of the company ATHERM, specialized in industrial cooling systems. This transaction represents the first capital investment of the SANKEN SANGYO group in Europe.


Since 1949, the SANKEN SANGYO group has specialized in the design, production and maintenance of industrial furnaces for the melting of metallic products to be used in the steel, aerospace and automotive industries. Prior to this acquisition, the SANKEN SANGYO group was already one of ATHERM’s main customers in the immersion heater sector.

The French industrial group S.E.R.E.S. has been active for many years in the power electronics, semiconductor, electronic component cooling and heat pipe sectors for all types of technological industries.

Through this alliance, SANKEN SANGYO and S.E.R.E.S. intend to consolidate their respective expertise and generate sustainable synergies in the electronic parts cooling solutions sector and industrial immersion heaters sector.

This transaction once again illustrates the strong experience of ALTANA in cross-border transactions and strategic development, as well as its expertise in manufacturing sector.

Firms advising in this matter:

  • Legal adviser to the SANKEN SANGYO Group: Altana, with a transversal team: Jean-Nicolas Soret, Vincent Guilaine (M&A) and Tami Chida (Japan Desk), as well as Mana Rassouli and Margaux Chaumien (Restructuring).
  • Legal counsel to the S.E.R.E.S. Group: CMS Francis Lefebvre Avocats, with Jean-Robert Bousquet, Romain Boyet and Noëlle Boualem, as well as Guillaume Bouté.
  • Financial advice: Grant Thornton, with Nicolas Verrier
  • Legal advice to the company: Leclère et Louvier Lawyers, with Josquin Louvier