Eversheds and Debevoise & Plimpton were the lead legal advisers as British engineering company Bodycote sold its testing business to a US private equity investor for £417m.
Eversheds ;partner Edward Pysden led the team acting for Bodycote – an Eversheds client for more than 30 years.
Private equity group Clayton Dubilier & Rice turned to Debevoise & Plimpton, with partners Guy Lewin-Smith and Joel Wheeler leading for the firm.
Bodycote is the world’s largest supplier of testing and thermal processing services. It wanted to offload the global testing business to concentrate on providing heat treatments and metallurgical coatings.
Pysden said the deal had been complicated by the global reach of the company – the testing business operates from 310 laboratories in 25 countries.
He added: “We’re delighted to have been part of this disposal, continuing our relationship with Bodycote.”