Automotive, corporate and energy experts from Gowling WLG have assisted Cummins, a global power leader which designs, manufactures and services diesel and alternative fuel engines and generators for use in the automotive industry, in their acquisition of Johnson Matthey PLC’s UK automotive battery systems business. As part of the deal, the two powerhouses have also agreed to work collaboratively and combine their respective expertise towards the future development of high energy battery materials.
The acquisition allows Cummins to expand its electrification and energy storage capabilities, in its drive to sit at the forefront of the electrified power industry. Since its foundation, Cummins has been renowned for not only innovating the power industry, but maintaining and practising rigorous core values of integrity, diversity & inclusion, caring, excellence and teamwork. They have a long-standing commitment to uphold the highest ethical standards and the acquisition helps push Cummins closer to its goal of creating a cleaner, healthier and safer environment.
Commenting on this, Chris Towle, lead Corporate Partner at Gowling WLG on the deal, said: “It has been a pleasure to work collaboratively with Cummins, and to be able to bring bespoke advice and guidance to bear on an exciting and strategically important move. With energy storage product development at arguably its most exciting and innovative stage, as the race to compete intensifies – and with the global reach of our client, Cummins is well set to dominate the race.”
The importance of the acquisition was confirmed by Tom Linebarger, Chairman and CEO, Cummins Inc: “The addition of Johnson Matthey Battery Systems’ technical expertise and customer base in markets that are more rapidly adopting electrification further positions us as a global energy storage supplier. By combining our electrification capabilities, portfolio of diverse power solutions, and global network, Cummins is uniquely positioned to lead in electrification. What differentiates us is our ability to help customers succeed with high-quality products across the spectrum of power solutions they use, whether it’s electric, diesel, natural gas or other energy solutions.”