Gleiss Lutz advises Schaeffler on its acquisition of Elmotec Statomat
The global automotive and industrial supplier Schaeffler will acquire Elmotec Statomat Holding GmbH. Gleiss Lutz advised Schaeffler extensively on the transaction. Closing of the acquisition is still subject to the customary regulatory clearances and is expected to take place in the first quarter of 2019. The parties have agreed to keep the purchase price confidential.
The acquisition will allow Schaeffler to expand its know-how in the area of electric motor construction and to drive forward the implementation of its e-mobility strategy: The owner-managed Elmotec Statomat GmbH, headquartered in Karben near Frankfurt am Main, is a global leader in the manufacture of production machinery for large-scale construction of electric motors and has unrivalled expertise when it comes to winding technology. The company generated sales of roughly 40 million euros in 2017 and currently has around 200 employees.
The Schaeffler Group is a global automotive and industrial supplier. With precision-engineered components and systems for engines, transmissions and chassis as well as roller and plain bearing solutions for a large number of industrial applications, the Schaeffler Group is already making a key contribution to “mobility for tomorrow”.
In-house counsel Dr. Alexandra Zech and Dr. Christina Mann worked on the transaction.
The following team of Gleiss Lutz lawyers, led by Dr. Ralf Morshäuser (partner), advised Schaeffler: Dr. Tobias Falkner (counsel), Moritz Riesener (all corporate/M&A, Munich), Dr. Alexander Molle (counsel), Dr. Hannah Bug (both IP/IT, both Berlin), Dr. Johann Wagner (partner), Dr. Jens Wrede (both tax, Hamburg), Dr. Iris Benedikt-Buckenleib (counsel, competition/antitrust, Munich), Dr. Jacob von Andreae (partner). Dr. Lars Kindler (both public law, Düsseldorf), Dr. Thomas Kulzer (counsel, finance, Frankfurt), Dr. Matthias Böglmüller (employment, Munich), Dr. Jonas Rybarz (corporate/M&A, Berlin).