Baker McKenzie advised Aggreko plc on the acquisition of Berlin-based battery storage provider Younicos AG. Aggreko purchased the Younicos shares from various strategic and financial investors. The transaction is valued in the mid-double-digit million euro range.
Younicos delivers smart energy solutions integrating battery storage, which are modular and scalable. Its knowledge of batteries combined with proprietary control systems, enables the seamless integration and management of all forms of power, including thermal, renewable and battery energy resources; this is becoming more and more critical in an increasingly distributed energy market.
By means of the transaction Aggreko will be able to supply its customers with more efficient, cleaner and cost efficient energy. At the same time Younicos benefits from the global presence and technical expertise of Aggreko, especially in storage solutions and hybrid energy systems and their global deployment.
Baker McKenzie advised Aggreko on all legal aspects of the transaction. The transaction is structured as a share deal.
"The combination of the strengths of the two companies means that our client can expand their competence in the efficient supply of their customers. We were able to advise Aggreko with our international team and support the success of the transaction's process," commented Dr. Thorsten Seidel, Corporate/M&A partner of Baker McKenzie.
Younicos AG is a world-leading provider of intelligent network and energy storage solutions. Its customers benefit from intensive professional competence, commercial know-how and comprehensive experience from the 40 energy storage projects worldwide with the installed total storage capacity of 200 megawatts. The company was founded in Berlin in 2005 and employs over 130 experts in energy storage, as well as in Austin, Texas.
Aggreko plc is the world's leading provider of mobile rental solutions for power generation and refrigeration / climate solutions with more than 5,700 employees in 194 locations worldwide. In 2012, the company supplied customers in more than 100 countries and generated sales of 2.0 billion euros. Aggreko plc is listed on the London Stock Exchange.
The corporate/M&A team of Baker McKenzie regularly advises clients on cross-border transactions and reorganizations. Most recently the team advised Trimble on its acquisition of Müller-Elektronik, Tokheim Service Group on a strategic partnership with Kärcher, SPIE on its acquisition of LÜCK Group, Grünenthal on its acquisition of Adhesys Medical, Flowserve Corporation on the sale of Gestra-Gruppe, ZF Friedrichshafen AG on the sale of 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.
Lead advisors to CORESTATE Capital Holding S.A .: Baker McKenzie
Lead: Corporate/M&A: Dr. Thorsten Seidel (partner, Berlin)
Corporate/M&A: Holger Engelkamp (senior associate, Berlin), Dr. Giannina Kreutz (associate, Berlin)
Banking / Finance: Dr. Sahra Demirbilek (associate, Frankfurt)
Capital Markets: Dr. Christoph Wolf (partner, Frankfurt); Dr. Manuel Lorenz (partner, Frankfurt), Tilman Wink (senior counsel, Frankfurt), Laurent Fessmann (partner, Luxembourg), Christoph Dahlgrün (associate, Luxembourg), Michael Wietzorek (associate, Luxemburg)
IP: Dr. Michael Fammler (partner, Frankfurt), Philip Schmitz (associate, Munich)
IT: Dr. Matthias Scholz (partner, Frankfurt), Dr. Michaela Weigl (senior associate, Frankfurt); Dr. Tobias Born (associate Frankfurt)
Employment: Dr. Matthias Köhler (senior associate, Berlin)
Commercial: Dr. Ulf Wauschkuhn (partner, Munich); Joachim Fröhlich (counsel, Munich); Antonia Rojahn (associate, Munich); Marie-Cecile Opelt (associate, Munich)
Public Law: Dr. Frank-Rainer Töpfer (partner, Berlin); Dr. Janet Butler (counsel, Berlin)
Real Estate: Fabian Hertel (associate, Berlin)
Other Baker McKenzie offices involved: London, Dallas and Houston