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Eversheds advises Renold on the acquisition of Aventics' tooth chains business

  • Germany

    17-11-2015

    Renold plc acquires the tooth chains business of Aventics, the specialist for pneumatics. The purchase price amounts to up to EUR 6.3 million and the acquisition is intended to be completed in 2016. A team of lawyers based in the Munich and Manchester offices of the international law firm Eversheds comprehensively advised Renold on the transaction.

    Renold plc, listed on the London Stock Exchange, is a global manufacturer of industrial chains and special machine tools with production and distribution sites in 23 countries, including one site in Einbeck, Germany. Renold has about 2,200 employees and generates an annual turnover of approx. GBP 180 million.

    With the sale of the tooth chains business Aventics TC, Aventics pursues the goal of setting a stronger focus on its core business. Aventics in particular specialises in manufacturing pneumatics components and systems used in ship and commercial vehicle technology. The company has about 2,100 employees at 40 locations. Until 2014, it was part of the Bosch Rexroth group and has since then been operating as an independent company on the international market.

    The Renold group will continue to operate the site in Gronau, Germany, with the existing staff and integrate the products manufactured there into its own product portfolio.

    An Eversheds team headed by the counsel Holger Holle and the UK-based partner Daniel Hall comprehensively advised Renold on corporate, insurance, employment, commercial as well as on real estate law matters.

    Lawyers advising Renold:

    Eversheds Deutschland LLP, Munich: Holger Holle (Corporate, M&A, Team Leader Germany), Fabian Volz (Insurance), Dr. Manuela Rauch (HR, Pensions), Dr. Maximilian Ott (Commercial), Alexander Hofmann (Real Estate)

    Eversheds LLP, UK: Daniel Hall (Client Partner, Team Leader UK), Laura Evans (Corporate)

    Lawyers advising Aventics:

    Luther Rechtsanwälte: Prof. Dr.Hans-Georg Hahn, Dr. Andreas Blunk (Team Leader)

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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