Gleiss Lutz advised Terex on the sale of the Atlas business to a private equity investor. Atlas is a tradition-rich manufacturer of excavators, building cranes and other construction machinery.
The transaction also includes the sale of the “sales and service” business in the UK as well as the sale of a minority ownership position in a Chinese joint venture. The approximately 800 employees at the sites in Ganderkesee, Delmenhorst, Vechta/Germany and Bradford/UK will have their employment transfer to the investor.
The completion of the transaction is subject to the approval of the responsible cartel authorities.
Terex produces and sells an extensive range of equipment for construction and infrastructure companies, for the quarrying industry, for waste disposal and recycling, mining, transportation and traffic, for refineries, utilities and maintenance.
Gleiss Lutz regularly advises the Terex Group. Under the lead of Dr. Fred Wendt (partner, corporate/M&A, Berlin), the following Gleiss Lutz lawyers also advised on the transaction: Dr. Barbara Maske-Reiche, Dr. René Schober, Dr. Patrick Binzel (all corporate, Berlin), Dr. Michael Marquardt (partner, Frankfurt) and Dr. Johann Wagner (Berlin, both tax), Dr. Matthias Müller (employment, Berlin) and Dr. Viktoria Ludwig (real estate, Berlin).
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