Delachaux Group, world market leader in rail infrastructure technology, is taking over the Upper Austrian Frauscher Sensortechnik from the private equity fund Greenbriar. The Schärding-based group is a technology leader in the field of train detection and simplifies railway operators’ access to information required for the smooth operation of their infrastructure.
Delachaux is a family-run business with a history spanning almost 120 years. Today, the group generates annual revenues of 923 million euros and employs more than 3,000 people in 35 countries. Most of the world’s railways, airlines and seaports use technology from this French group.
Delachaux acquired a majority stake of Frauscher Sensor Technology Group GmbH, the residual minority share remains in the hands of the management, Michael Thiel remains the CEO of Frauscher Sensor Technology. The acquisition was closed on 28 February 2019. The parties have agreed not to disclose details of the purchase price.
The international law firm Baker McKenzie advised Delachaux on the acquisition of Frauscher Sensortechnik Group, which comprises besides the Austrian parent company subsidiaries in 12 further countries. The international legal team was led by Vienna based partners Gerhard Hermann and Eva-Maria Ségur-Cabanac. “The specific challenges of the transaction were the large number of relevant jurisdictions, which was also challenging for the engaged W&I insurance, the high time pressure and the very competitive sales process,” reports Hermann.
The transaction emphasizes Baker McKenzie’s expertise (i) in the area of private equity – once again last year, the Vienna office advised on one of the largest PE transactions with the sale of the Amann-Girrbach Group to Capvis Equity – as well as (ii) in the area of multinational transactions.
Legal Advisors of Delachaux: Baker McKenzie
Lead: Vienna: Gerhard Hermann (Partner, Corporate/M&A), Eva-Maria Ségur-Cabanac (Partner, Corporate/M&A)
Other attorneys involved: Corporate/M&A: Alex Lewis (Partner, London), Peter Wand (Partner, Frankfurt), James Adams (Senior Associate, London), Stephanie Sauer (Associate, Vienna), Armin Assadi (Associate, Vienna);
Banking & Finance: Dieter Buchberger (Partner, Vienna), Andreas Flaig (Junior Associate, Vienna);
Antitrust & Competition: Andreas Traugott (Partner, Vienna), Anita Lukaschek (Associate, Vienna);
Employment Law: Elisabeth Wasinger (Senior Associate, Vienna)