China's Sany Buys German Concrete Pump Maker

Law360, New York (January 30, 2012, 3:57 PM EST) -- Germany's Putzmeister Holding GmbH and China's private equity-backed Sany Heavy Industry Co. Ltd. agreed to merge Friday in the first such deal between a Chinese company and one of Germany's prominent small and medium-size enterprises known as "Mittelstand."

Although no strict definition for Mittelstand companies exist, they are generally family-run, have few employees and drive Germany's export economy. Up to 39 percent of all sales in Germany can be attributed to them, and construction machinery manufacturer Putzmeister is among the 200 largest family-owned Mittelstand companies in...
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