Eversheds has advised Brady Corporation, a provider of precision-engineered components, on the sale of its Asian and European Die-Cut business to US-based Boyd Corporation.
New York Stock Exchange-listed Brady announced last May that the die-cut operations no longer fit with the company’s overall strategy, and the disposal allows Brady to focus on its Identification Solutions and Workplace Safety businesses.
Eversheds acted as the international counsel on this deal, which was responsible for handling legal issues across eight jurisdictions in which the Die-Cut business had operated — including China, Singapore, Thailand, Korea, Taiwan and Germany. The deal was signed on 24 February 2014 and is due to complete in two phases later this year, each subject to customary closing conditions.
Antony Walsh (partner) and Jack Cai (head of the Shanghai Office) led a team supported by associates Chris Archer, Sam Chen and Monica Mo and trainee Rebecca Blackburn. Other Eversheds teams involved included Holger Holle and Sabine Wagner in Germany, Sze-Hui Goh and Joyce Tan in Singapore and Caroline Wikstrom and Per Westman in Sweden.
The teams worked alongside Baker & McKenzie, which was the US deal counsel.