Baker McKenzie advised private equity investor AURELIUS on the acquisition of Dayco Propulsion Solutions. Seller is the Dayco Group, based in Birmingham, USA. The acquisition was signed in December 2023 and completed in May 2024.
"It was a pleasure that we were once again able to support AURELIUS in a complex cross-border transaction. The acquisition of Dayco Propulsion Solutions emphasises AURELIUS' growing focus on North America. Thanks to our global network, we were able to assist AURELIUS in close co-operation with our US offices in all legally relevant aspects of this important transaction", commented Jakub Lorys, Corporate/M&A partner in the Munich office.
The acquisition of Dayco Propulsion Solutions is the latest in a series of transactions in which Baker McKenzie has advised AURELIUS. Baker McKenzie recently advised AURELIUS on the acquisition of LSG Group (LSG Sky Chefs) from Lufthansa, on the acquisition of AGFA Offset Solutions from Agfa-Gaevert NV, on the acquisition of Footasylum from JD Sports Fashion Plc and on the acquisition of Minova in a global carve-out transaction from Orica Limited.
AURELIUS is a globally active alternative investor, distinguished and widely recognised for its operational approach. It focuses on Private Equity, Private Debt and Real Estate. To date, AURELIUS has completed more than 300 transactions. AURELIUS has been growing significantly in recent years, particularly expanding its global footprint, and today employs more than 370 professionals in 10 offices spanning Europe and North America.
Dayco Propulsion Solutions is the leading power transmission system supplier to Commercial Vehicle & Off-Highway (CVOH) and Light Vehicle (LV) Manufacturer. The company specialises in the production of propulsion systems that control the belt power transmission system of CVOHs and LVs. The products are sold to original equipment manufacturers and aftermarkets. Dayco Propulsion Solutions has eight production sites worldwide.
Baker McKenzie's Corporate/M&A practice regularly advises on domestic and international transactions. Most recently, Baker McKenzie advised EQT Life Sciences on a EUR 128 million Series B2 financing of Tubulis GmbH, Knorr-Bremse AG on the sale of a majority stake in Kiepe Electric GmbH, Transcom on the acquisition of timeframe, Sika AG on the acquisition of MBCC Group from Lone Star and the sale of MBCC's concrete admixtures business to Cinven, Senwes Ltd on the acquisition of four agricultural machinery dealers in the federal states of former East Germany, AURELIUS on the acquisition of LSG Group (LSG Sky Chefs) from Deutsche Lufthansa AG, Nokian Tyres plc on the sale of its Russian business to Tatneft PJSC, First Solar on the sale of its global O&M business to NovaSource, Fluidra on the acquisition of the Meranus Group and Magna on the acquisition of the Veoneer Active Safety division.
Legal advisor to AURELIUS:
Baker McKenzie
Lead:
Corporate/M&A: Jakub Lorys (partner, Munich), Airi Hammalov (partner, New York)
Team:
Corporate/M&A: Berthold Hummel (partner, Munich), Matthias Töke (partner, Frankfurt), Anna Giulia Klaas (associate, Munich)
USA:
Reza Nader (partner, New York), Debra Dandeneau (partner, New York), Mark Bloom (partner, Miami), Michael McCutcheon (partner, Chicago), Kevin Whittam (partner, New York), Blaire Cahn (partner, New York), Christopher Guldberg (partner, Chicago), Michael Lehrman (partner, Chicago), Lane Morgan (partner, Dallas), Samuel Kramer (partner, Chicago), Amir-Kia Waxman (partner, New York), Santiago Corcuera-Mansi (senior associate, New York), Grace Blackburn (associate, New York), Zachary Bassen (associate, New York), Mark Katz (associate, New York), Victoria Fanous (associate, New York), Estefania Lalinde (associate, Miami), Jeffrey Butler (associate, Chicago)
as well as numerous other lawyers in more than ten Baker McKenzie offices worldwide, including Brazil, Italy, Japan, Luxembourg, Mexico, the People's Republic of China and Poland