Graf von Westphalen acted as legal counsel to the majority shareholder of Interturbine Projekt Management GmbH in the sale of the entire Interturbine Group to the NASDAQ-listed company B/E Aerospace (GS: BEAV). The acquisition purchase price is approximately € 200 million. The transaction is subject to regulatory approvals and is expected to close during the third quarter of 2012.
Based in Kaltenkirchen in the northern German state of Schleswig-Holstein, the Interturbine Group is a global aviation company employing around 580 workers at subsidiaries and branch offices in more than 15 countries. The company is a leading provider of material management logistics services supplying replacement parts and consumables to global air-lines, aircraft manufacturers and maintenance, repair and overhaul (MRO) providers. The strength of the Interturbine Group is the express delivery of replacement parts and consuma-bles on an urgent Aircraft-on-Ground basis to any airport in the worldin a very short time frame.
Based in Wellington, Florida (USA), B/E Aerospace is the world’s leading manufacturer of aircraft cabin interior products as well as the world’s leading distributor of aerospace fasteners and consumables for the civil and military aviation industry. With the acquisition of the Interturbine Group, B/E Aerospace will double its product portfolio and further expand its leading position as a global provider of logistics services and supplier of aerospace replace-ment parts and consumables.
Under the lead of the Hamburg-based partner Dr Dominik Ziegenhahn, a team of lawyers from various Graf von Westphalen offices acted as legal counsel to the Interturbine Group. The core team comprised partners Dr. Malte J. Hiort (Düsseldorf), Dr Ritesh Rajani, LL.M. (Hamburg) (both Corporate/M&A) and Dr. Frank Tschesche, LL.M. (Frankfurt, Tax) as well as associates Florian Puschmann, Cuifang Wang (both Hamburg) and Felix Wolf, LL.M. (Munich, all Corporate/M&A). The team was supported by partners Dr Carsten Bittner (Hamburg, Merger Control), Dr Malte Evers (Hamburg, Employment), Dr Lothar Harings (Hamburg, Export Control Law), Patrick Heid, LL.M. (Shanghai), Robert Heym (Munich, both Corporate/M&A), Wolfram Müller (Hamburg, Real Estate), Marian Niestedt, M.E.S. (Hamburg, Foreign Trade & Customs Law) and Dr Sigrid Wienhues (Hamburg, Environmental Law) as well as associates Sarah Grigo (Hamburg, Real Estate), Hartmut Henninger (Hamburg, Foreign Trade & Customs Law), Lutz L. Lamprecht (Hamburg, Real Estate), Feiran Sun, LL.M. (Shanghai, Corporate/M&A) and Dr Christian Triebe (Hamburg, IP/IT).
Steen Associates, an M&A advisor specialising in the aviation and aerospace industries with offices in London and Frankfurt/Main, acted as adviser to the Interturbine Group during a sales process structured as a limited auction process.
B/E Aerospace was advised by legal counsel from Shearman & Sterling.
GvW Graf von Westphalen advised the transmission system operator 50Hertz on the award of a major contract for the North Sea Connector 2 offshore grid connection project. The project involves the planning, construction, installation and commissioning of a converter system comprising an offshore converter platform in the North Sea and an onshore converter station in Mecklenburg-Western Pomerania. The North Sea Connector 2 project is intended to connect offshore wind farms in the North Sea to the German electricity grid in future.
GvW Graf von Westphalen has advised Primepulse and Vsquared Ventures on the Series C financing round of NEURA Robotics GmbH. The transaction ranks among the largest venture financing rounds in the European startup ecosystem to date.
GvW Graf von Westphalen has advised Ethereal Space, Inc., a pioneering commercial space company, on space and satellite law matters and the establishment of its affiliate Ethereal Space GmbH.
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