TowerBrook Capital Partners Agrees to Sell AustroCel Hallein

Fried Frank advised TowerBrook Capital Partners on its agreement to sell AustroCel Hallein, one of Europe's most advanced biorefineries and a zero-waste, circular economy pioneer, to Oji Holdings Corporation. The sale is subject to customary regulatory approvals.

Fried Frank partners Christian Iwasko and Michelle Tong advised TowerBrook Capital Partners on its acquisition of AustroCel Hallein in 2017.

During TowerBrook's ownership period, AustroCel made significant long-term investments for the future, building a highly differentiated biorefining platform, pioneering market best practice in the pursuit of a zero-waste model and maximizing profitable growth and sustainability. Under Oji Holdings, AustroCel is well positioned to continue building its product offering. Read AustroCel Hallein's press release for more information about the transaction.

The sale of AustroCel Hallein is the latest of several matters in which Fried Frank has acted as counsel to TowerBrook. The firm's previous work includes advising TowerBrook on its majority equity investment in JSM Group Services Ltd., a leading independent connections provider specializing in high-voltage works for data center clients in the UK, and its acquisition of the IDAK Food Group, which in turn resulted in IDAK Food Group's acquisition of Sorrento Sapori e Tradizioni, a pizza snack company based in Eboli, Italy.

The Fried Frank team was led by partners Michelle Tong, Christian Iwasko and Oliver Currall.