Baker McKenzie advised Rexnord Corporation (NYSE: RXN) on the sale of German headquartered VAG Group to AURELIUS in the course of an auction process. The sale is the result of a strategic divestiture after Rexnord acquired the VAG Group, one of the world's leading manufacturers of water and waste water valves back in 2011.
Baker McKenzie advised Rexnord on all legal aspects of the sale with a cross border team of lawyers across Europe, Asia and the Americas led by Munich based corporate partner Dr. Dorothee Prosteder on all legal and procedural aspects of the sale following an auction run by global investment bank Robert W. Baird.
"With this successfully completed structured process leading to the sale of VAG Group, we were once again able to legally support Rexnord in achieving their strategic goals", comments Baker McKenzie Corporate/M&A partner Dr. Dorothee Prosteder.
Headquartered in Milwaukee, Wisconsin, Rexnord is comprised of two strategic platforms, Process & Motion Control and Water Management, with approximately 8,000 employees worldwide. The Process & Motion Control platform designs, manufactures, markets and services specified, highly-engineered mechanical components used within complex systems. The Water Management platform designs, procures, manufactures and markets products that provide and enhance water quality, safety, flow control and conservation.
The VAG Group, headquartered in Mannheim, is a global valve manufacturer offering solutions in the water and wastewater sector. The company employs around 1200 people at six production facilities in Germany, the Czech Republic, China, India, South Africa and the United States as well as 14 sales offices.
AURELIUS Group, headquartered in Grünwald near Munich, is a pan-European investment group with offices in Munich, London, Stockholm and Madrid. Since it was founded in 2006, AURELIUS has grown from a local turnaround investor to an international multi-asset manager investing in a wide range of sectors and across the capital structure.
Baker McKenzie's Corporate / M&A team regularly advises on domestic and international transactions and restructurings. Most recently, Baker McKenzie advised BITZER on a Joint Venture with the Wurm Group, MainFirst Holding in the sale of its Equity Brokerage business, HGZN on the acquisition of NIMAK Group, DBAG Fund VII on its investment in Kraft & Bauer Holding, Thor Industries on the acquisition of Erwin Hymer Group, Körber AG on the sale of the United Grinding Group, B.C. Jindal Group on takeover of the Treofan Group, Gerresheimer on the acquisition of Sensile Medical, Global Ports Holding Plc on its strategic investment in Dreamlines, financial investors First State Investments and Hermes Investment Management on the acquisition of the shipping company Scandlines, Mundipharma on the sale of its Limburg production, Rexnord on the acquisition of the CENTA Group and LKQ Corporation on the acquisition of the Stahlgruber Group.
Legal advisor to Rexnord Corporation:
Lead: Corporate/M&A: Dr. Dorothee Prosteder (Partner, Munich)
Team: Corporate/M&A: Berthold Hummel (Partner), Dr. Katja Heuterkes (Counsel), Julia Braun (Counsel), Stephan Gönczöl (Associate, all Munich), Dr. Florian Kästle (Partner), Eva Maier, Friederike Göretzlehner (both Associates, all Frankfurt), Regine Corrado (Partner), Andrew Warmus (Partner), Alexandra Lee (Senior Associate), Aria Eckersley (Associate, all Chicago)
Tax: Christoph Becker (Partner), Sonja Klein (Partner), Jochen Meyer-Burow (Partner, all Frankfurt), Dr. Norbert Mückl (Partner, Munich)
Employment/Pensions: Dr. Gregor Dornbusch (Partner), Dr. Hagen Köckeritz (Partner), Dr. Felix Diehl (Associate, all Frankfurt)
Commercial: Katharina Spenner (Partner, Munich)
Competition & Trade: Sarwenaz Kiani (Senior Associate, London)
As well as colleagues from Baker McKenzie offices in Amsterdam, Kuala Lumpur, London, Milan, Mexico, Moscow, Paris, Prague, Santiago, Shanghai, Vienna and Warsaw.
Rexnord Corporation: Dr. Stefan Greving, Group Legal Counsel