Curtiss-Wright sells Phoenix Group to Liberta Partners
Munich, Germany — Curtiss-Wright Corporation (Curtiss-Wright) has sold CWFC Phoenix Group (Phoenix) to Liberta Partners. Curtis-Wright was advised on this transaction by the international law firm Reed Smith.
Phönix, based in Volkmarsen, Germany, is a leading manufacturer of high-quality valves for chemical, petrochemical, nuclear and conventional power plants as well as for the oil and gas industry.
Liberta Partners, a Munich-based multi-family holding company, acquired Curtiss-Wright’s shares in a corporate carve-out following Curtiss-Wright’s strategic decision to focus on the defense sector.
The Reed Smith team that advised on the transaction was led by Constantin Conrads, Partner in the Munich Global Corporate Group, who was the lead advisor on the sale of the company and negotiated the purchase agreement, Peter Teare, Partner in the London Global Corporate Group, and Rita Gnoth-Novak, Senior Associate.
The entire Reed Smith team in Munich, Frankfurt and London included partners David Ashmore, William Sutton, Dr. Martin Bünning, Jan Weissgerber and Dr. Anette Gärtner as well as associates Philipp Bergmann, Heidi Paget-Brown and Friederike Wilde-Detmering.
Advisor Liberta Partners: Arqis in Munich
Dr. Mauritz von Einem, Benjamin Bandur and Rolf Tichy.
Christian Szczesny (General Cousel). EC M&A from Frankfurt was involved as M&A advisor.
About Liberta Partners
Liberta Partners is a multi-family holding company based in Munich. Liberta Partners invests in companies predominantly based in German-speaking countries with clear operational and strategic development potential, in particular in corporate spin-offs and successions. The company actively develops investments as part of its long-term “100% Core & Care” concept. The portfolio companies benefit from Liberta Partners’ innovative entrepreneurial experience. Liberta Partners’ team consists of M&A, corporate development and legal professionals as well as an active advisory board. www.liberta-partners.com
Curtiss-Wright Corporation is an innovative engineering company providing advanced products, systems and services in flow control, motion control and surface treatment technologies for the defense, energy and commercial/industrial markets. As the successor company to Glenn Curtiss and the Wright Brothers, Curtiss-Wright has a long tradition of designing and manufacturing innovations and prides itself on its long-standing customer relationships. The company employs around 9,700 people worldwide. www.curtisswright.com.
About Phoenix Group
The Phönix Group supplies the chemical industry, refineries and conventional power plants worldwide with high-quality special valves in all standards (DIN, ANSI, ASME, etc.). Numerous product and system certifications ensure optimum safety and reliability of Phoenix valves. The Phoenix Group is the world’s technological leader in the field of bellows valves. The product range also includes globe valves, gate valves, control valves, metering line valves, change-over valves, check valves, strainer basket filters, high-pressure valves, and a wide range of special valves such as alkylation valves and safety valves for the aerospace industry. State-of-the-art processing technology, highly qualified employees, constant cooperation with international standards organizations, sales offices in important markets and subsidiaries in France and the USA ensure a high level of customer service. www.cw-valvegroup.com/About/phonix
About Reed Smith
Reed Smith is one of the leading international law firms with more than 1,700 lawyers in 30 offices in Europe, the United States, the Middle East and Asia. For more information, visit www.reedsmith.com.