Gowling WLG’s Corporate team has advised on the management buy-out (MBO) of manufacturer bavius technologie gmbh (formerly Handtmann A-Punkt Automation GmbH), which has been acquired by the business’ managing director Armin Walther in a deal that included the firm’s foreign subsidiaries in the US, Russia and China.
As a result of the MBO, the business unit ‘5-axle HSC/HPC machining centres’ was divested from the Handtmann Group. The completion of the foreign transactions is envisaged for the first quarter of 2018, and the transaction volume will remain confidential.
For more than 30 years, bavius technologie gmbh has been one of the world’s leading manufacturers of 5-axle HSC/HPC machining centres. Its wide range of equipment is used largely in the manufacturing of aircraft components.
The Handtmann Group is a family-owned business based in Biberach an der Riss with 3,600 employees at 12 production sites worldwide. Handtmann specialises in the manufacturing of light metal casting and system components for the automotive industry, machines for the food industry, steel fittings and equipment for the beverage industry as well as high-strength parts made from engineering grade plastics.
Armin Walther, managing director at bavius technologie gmbh, said: ”We are delighted to have concluded the MBO within such a short time from the point in time of the acquisition option through to completion. The cross-office collaboration of Gowling WLG under the auspices of the team led by Andreas Woelfle enabled a smooth management of multiple work streams.”
Gowling WLG Corporate/M&A lead partner Dr Andreas Woelfle, who led on the transaction in Germany, USA, Russia and China, has known the acquirer for many years. Principal associate Florian Holfeld, LL.M. (Corporate/M&A: Germany); partner Jamie Rowlands, and principal associate John Chung (both Corporate/M&A: Guangzhou) also acted on the transaction.
International law firm Gowling WLG’s 100-strong Corporate, Finance and Tax team specialises in delivering high value and complex private equity transactions, mergers and acquisitions and other corporate matters.