Baker McKenzie advised Tokheim Service Group on negotiations to enter a strategic partnership with Kärcher. The partnership will see the cleaning specialist and the provider of services and fuel retailing solutions join forces in the car wash industry.
Under this agreement, Kärcher will focus on engineering and developing car wash products and solutions whilst Tokheim will take up the role of managing sales and distribution for the fuel retail segments, as well as providing installation and maintenance services to all car wash customers in Europe and Africa.
The agreement covers Kärcher's entire car wash technology product portfolio such as washing portals for cars and trucks, jet wash and self-service systems. By means of the cooperation both companies will expand its car wash business and market position considerably.
Baker McKenzie advised Tokheim on all legal aspects concerning corporate, commercial and trade law in the structure of the strategic partnership. The firm's stand alone commercial and trade practice enhanced the successful outcome. Andrea Ziegler, lead Corporate/M&A partner advising the deal, had previously represented the shareholders of Göhler Tankanlagenbau Gruppe in their sale of said group to Tokheim. This continued connection was basis for the mandate in this transaction.
'The transaction between two strong companies such as Kärcher and Tokheim involved close interconnection of corporate and commercial law accompanied with many operative challenges', comments Ziegler.
Tokheim Services Group is the largest distributor of equipment and technology for retail and private fuel networks, with its 250+ sales staff taking care of the needs of customers in 26 countries in Europe and Africa. It is also the largest maintenance and service provider in the fuel industry, leveraging the strength and skills of its 2000 technicians who install and repair any type of equipment and systems, maximizing uptime and operational efficiency for the 40 000 fuel stations it serves globally.
Kärcher, a family-owned business is the world’s leading provider of cleaning technology.and employs more than 12,000 people in 65 countries with more than 100 subsidiaries. With €2.33 billion in the year 2016, Kärcher achieved the highest sales in its history.
Baker McKenzie regularly advises clients on cross-border transactions and reorganizations. Most recently the team advised SPIE on its acquisition of LÜCK Group, Grünenthal Gruppe on its acquisition of Adhesys Medical GmbH, Flowserve Corporation on the sale of the Gestra-Gruppe, ZF Friedrichshafen AG on the sale of the Cherry Group, the owners of Fragrance Resources on the sale of its fragrance business to International Flavors & Fragrances, Inc., GFKL on the acquisition of Tesch Group, 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 Böddecker & Co. GmbH & Co. KG, Dassault Systèmes on the acquisition of the CST group, Sulzer on the takeover of the GEKA group from 3i, Deutsche Beteiligungs AG on its participation in Reinhold & Mahla-Group, 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.