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Baker McKenzie advised Flowserve Corporation on the sale of its Gestra Group business unit to UK Spirax-Sarco Engineering plc. for approximately 186 million euros. The transaction is expected to be completed during the second quarter of 2017, subject to certain customary conditions, including regulatory approval of the transaction by the German authorities.

The Gestra Group with its core business in Bremen, Germany, recorded revenues of approximately €92.5 million in 2016. Flowserve Corp., a NYSE listed company, is one of the world’s leading providers of fluid motion and control products and services and produces engineered and industrial pumps, seals and valves as well as a range of related flow management services.

Baker McKenzie advised Flowserve with an international team of over 100 lawyers from Germany, USA, Asia, UK, Poland, Italy and Spain covering all legal and tax issues in the competitive auction process. The transaction is structured as a share-/asset deal with a highly complex international carve-out.

Dr. Nikolaus Reinhuber, one of the lead partners on the transaction together wit Dr. Björn Simon and Dr. Peter Wand, commented: " The transaction is another perfect example of how our integrated cross border capabilities and excellent team work supported our client to achieve its commercial goal within an very ambitious time line. We were thus able to support our client in achieving its commercial goals"

Baker McKenzie and Nikolaus' team regularly advise Flowserve Corporation - one such project over the past years was advising Flowserve in it's acquisition of the international pump supplier SIHI-Group.

Baker McKenzie regularly advises clients on cross-border transactions and reorganizations. Most recently the team advised Uniwheels in the sale to Superior Industries, the owners of Fragrance Resources on the sale of its fragrance business to International Flavors & Fragrances, Inc., Schneider Electric on its acquisition of all assets of ABN Braun AG, CORESTATE on its acquisition of Hannover Leasing, Heraeus Group on the sale of the global high-performance target materials business to the US-based Materion Group, MAGNA International on its acquisition of the BÖCO Group, ZF Friedrichshafen AG on the sale of the Cherry Group, Dassault Systèmes on the acquisition of the CST group, Sulzer on the takeover of the GEKA group of 3i, Allegion on the acquisition of Trelock, RWE and E.ON on the sale of their shares in the Luxembourg energy supplier Enovos, HITACHI Koki on the acquisition of Metabo AG and Barry-Wehmiller group on the acquisition of the operations of Winkler+Dünnebier GmbH.

Legal advisor Flowserve Corporation: Baker McKenzie

Lead: Corporate/M&A: Dr. Nikolaus Reinhuber, Dr. Björn Simon, Dr. Peter Wand (all Frankfurt)
Team: Corporate/M&A: Dr. Holger Ellers (partner, Berlin), Dr. Christian Vocke (partner, Frankfurt), Dr. Dorothee Prosteder (partner, Munich), Dr. Lenard Bock, Dr. Markus Mörtel, Valesca Molinari (all associate, Frankfurt), Maria Eger (associate, Munich)
Compliance: Dr. Andreas Lohner (partner, Munich), Dr. Robin Haas (associate, Munich)
Real Estate: Dr. Florian Thamm (partner, Frankfurt), Dr. Daniel Bork (associate, Dusseldorf)
Antitrust: Dr. Christian Burholt (partner, Berlin), Jan Kresken, Dr. Johannes Weichbrodt (both Senior Associate, Dusseldorf)
Employment: Dr. Hagen Köckeritz (partner), Dr. Lena Kern (Associate), Annekathrin Haffke (associate, all Frankfurt)
Pensions: Dr. Christian Reichel (partner), Dr. Anna Verena Böhm (senior associate, both Frankfurt)
Trade & Commerce: Dr. Johannes Teichmann (partner), Ingmar Oltmanns (associate, both Frankfurt), Marie-Cecile Opelt (associate, Munich)
Banking & Finance: Dr. Oliver Socher (partner), Silke Fritz (associate, both Frankfurt)
IP: Dr. Michael Fammler (partner), Dr. Markus Hecht, Andreas Jauch (associates, all Frankfurt)
IT: Dr. Holger Lutz (partner), Dr. Tobias Born (associate, both Frankfurt)
Tax: Christoph Becker (partner), Ariane Schaaf (associate, beide Frankfurt)
Environmental Law: Dr. Julia Pfeil (senior associate, Frankfurt)
as well as other lawyers in Baker McKenzie offices in USA, Asia, UK, Poland, Italy and Spain.

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