A Corporate team led by Gowling WLG's Frankfurt office has advised KOCH Solutions on its acquisition of a material handling technology business from FLSmidth, marking its first transaction at the new German office.
FLSmidth and KOCH Solutions have both signed an Asset Purchase & Transfer Agreement involving material handling technology that is part of the non-core activities of FL Smidth. The transaction is expected to be completed in the third quarter of 2023, subject to customary regulatory approvals from relevant authorities.
KOCH Solutions will acquire a mix of intellectual property, order backlog, employees and facilities from FLSmidth's including a number of FLSmidth employees in Germany and Australia.
The acquisition was led by partner Michael Sinhart, with support by legal counsel Micha Gersdorf, both based at the firm's Frankfurt office and legal director Florian Holfeld from the firm's Stuttgart team.
Commenting on the acquisition, Michael Sinhart said: "This is an exciting period for us with this transaction being the first one we have finalised since opening our Frankfurt office earlier this year and what we hope will be the first of many. It has been a pleasure working with KOCH Solutions to deliver an agreement which benefits all parties and demonstrate our expertise with mergers and acquisitions. We look forward to working with KOCH Solutions on more opportunities in the future."
The Frankfurt team is an integral part of Gowling WLG's global Corporate, Finance and Tax practice group. The strong team of lawyers are fully equipped to provide leading legal advice on corporate/mergers and acquisitions transactions, capital markets (including equity capital markets), private equity and venture capital. Find out more about Gowling WLG's Frankfurt office.