Baker McKenzie advised the Dusseldorf-based technology group GEA on the sale of the compressor manufacturer Bock to NORD Holding. Bock is a leading manufacturer of open and semi-hermetic piston compressors in the lower and medium refrigeration capacity range. The company employs some 340 people worldwide and generated sales of almost EUR 90 million in the 2019 fiscal year. In addition to GEA Bock’s headquarters in Frickenhausen, Germany, the company has three other locations in the Czech Republic, India and China.
The parties agreed not to disclose the transaction volume. The transaction is subject to the approval of the antitrust authorities.
Baker McKenzie advised GEA on all legal aspects of the transaction, including the carve-out of Bock from the GEA Group in Germany and its foreign locations.
"We are very pleased that we could accompany GEA for the first time in a strategically important M&A transaction. Thanks to our extensive experience in cross-border carve-out transactions, we were able to implement the complex carve-out of the Bock business in the various jurisdictions and the subsequent sale in an efficient and focused manner together with the GEA team," comments Dr. Ingo Strauss, lead partner in the transaction.
As one of the largest systems suppliers, GEA makes an important contribution to a sustainable future with its solutions and services, particularly in the food, beverage and pharmaceutical sectors. In 2019, the company had around 18,500 employees and consolidated sales of 4.9 billion euros. Across the globe, GEA’s plants, processes and components contribute significantly to the reduction of CO2 emissions, plastic use as well as food waste in production. GEA is listed on the German MDAX and the STOXX® Europe 600 Index and also included in the DAX 50 ESG and MSCI Global Sustainability indexes.
With assets under management of EUR 2.5 billion, NORD Holding is one of the leading private equity asset management companies in Germany. At present the company is invested in more than 15 companies in Germany and other German-speaking countries.
The global Corporate/M&A team of Baker McKenzie advises on more cross-border transactions than any other law firm. Most recently the team advised DBAG on an investment in congatec Holding AG, SAP on the sale of the communication unit SAP Digital Interconnect to Sinch AB, Paragon Partners on the acquisition of Castolin Eutectic, Air Liquide on the sale of the Schülke Group to the Swedish financial investor EQT, METRO AG on the establishment of a strategic partnership with Wumei Technology Group, Bayer AG on the sale of its majority stake in the chemical park operator Currenta, SPIE on the acquisition of OSMO, Toppan Printing Co. Ltd. on the acquisition of the German Interprint Group and Evonik on the sale of its methacrylate business to Advent International.
Legal advisor to GEA: Baker McKenzie
Lead: Corporate/M&A: Dr. Ingo Strauss (partner, Dusseldorf)
Team: Corporate/M&A: Jana Upschulte (senior associate, Dusseldorf), Dr. Heiko Gotsche (partner, Dusseldorf), Dr. Richard Stefanink (associate, Dusseldorf), Dr. Kai Danelzik (associate, Dusseldorf)
Tax: Christoph Becker (partner, Frankfurt), Ariane Schaaf (counsel, Frankfurt)
Employment: Dr. Christian Reichel (partner, Frankfurt), Dr. Anna Verena Böhm (counsel, Frankfurt)
Real Estate: Dr. Daniel Bork (senior associate, Dusseldorf)
IT: Dr. Holger Lutz (partner, Frankfurt), Simone Bach (associate, Frankfurt), Anika Vornwald (associate, Frankfurt)
Commercial: Dr. Johannes Teichmann (partner, Frankfurt), Dr. Ingmar Oltmanns (associate, Frankfurt), Dr. Philipp Schütt (counsel, Dusseldorf)
Public Law: Anahita Thoms (partner, Dusseldorf), Dr. Janet Kerstin Butler (counsel, Berlin), Dr. Katharina Weiner (counsel, Dusseldorf), Alexander Ehrle (associate, Berlin)
Antitrust: Dr. Johannes Weichbrodt (partner, Dusseldorf)
Banking & Finance: Dr. Oliver Socher (partner, Frankfurt), Silke Fritz (counsel, Frankfurt), Philipp Thimm (associate, Frankfurt)
As well as other lawyers from Baker McKenzie offices in China, Australia, Singapore, Malaysia, Indonesia, the Czech Republic and Austria.
Legal Inhouse: Dr. Nadine Sterley, LL.M.