Rolls-Royce Power Systems sells L’Orange to Woodword
Stuttgart/ DLA Piper advised Rolls-Royce Power Systems AG on the sale of L’Orange GmbH to Woodward Inc. advise Rolls-Royce plc. and Woodward Inc. today jointly announced that they have signed an agreement for the acquisition by Woodward of L’Orange GmbH and its associated businesses in Germany, the U.S. and China for an enterprise value of €700 million. L’Orange is part of the Power Systems division of the Rolls-Royce Group.
The transaction was approved by the boards of Rolls-Royce and Woodward and the supervisory board of Rolls-Royce Power Systems. The transaction is expected to close at the end of the second quarter of 2018. The transaction is subject to the approval of German antitrust authorities.
Rolls-Royce Power Systems, a division of Rolls-Royce plc, is one of the world’s leading suppliers of engines, propulsion systems and distributed energy systems. Under the MTU brand, the company develops and manufactures high-speed engines and propulsion systems for ships, power generation, heavy land and rail vehicles, military vehicles and the oil and gas industry. Rolls-Royce Power Systems is headquartered in Friedrichshafen and employs more than 10,000 people worldwide.
Headquartered in Stuttgart, Germany, L’Orange has approximately 1,000 employees, most of whom are in Germany, but also in the U.S. and China. L’Orange is one of the world’s leading manufacturers of electronically controlled high-pressure injection systems for off-highway diesel and heavy fuel oil engines.
Advisors to Rolls-Royce Power Systems AG: DLA Piper
The core team of DLA Piper under the global lead of partner Dr. Benjamin Parameswaran consisted of partner Dr. Daniel Weiß, counsel Sebastian Decker (all Corporate/M&A, Hamburg) and senior associate Olga Blaszcyk (Commercial, Munich). Furthermore, the partners Dr. Thilo von Bodungen (Commercial, Munich), Dr. Kai Bodenstedt (Labor Law, Hamburg), Dr. Konrad Rohde (Tax Law, Frankfurt), Dr. Jan Joachim Dreyer (Antitrust Law) and Dr. Andreas Meyer-Landrut (Corporate, both Cologne), the Counsel Dr. Isaschar Nicolaysen (Corporate/M&A, Hamburg), Sebastian Kost (Tax, Munich), Dr. Annemarie Bloß (IPT), Dr. Henriette Norda (Labor Law, both Hamburg), Dr. Enno Ahlenstiel, Dr. Thilo Streit (both Litigation & Regulatory, Cologne) and Bernd Siebers (IPT, Munich), Senior Associates Katharina Minski (Corporate/M&A, Hamburg) and Dr. Constanze Krenz (IPT, both Munich) as well as Associates Sophie von Mandelsloh, Diedrich Schröder (both Corporate/M&A), Nils Grunicke (Labor Law, all Hamburg), Dr. Berit Geuenich-Schmitt (Litigation & Regulatory) and Hubertus Neu (Corporate, both Cologne). Also involved from DLA Piper’s international offices were Alexandra Kamerling (Partner), Martin Strom (Associate, both Litigation & Regulatory), Andrew Weil (Partner, Corporate, Chicago) and Peng Tao (Legal Consultant, Tax, Hong Kong).
The Rolls-Royce in-house legal team was led by Dr. Thomas Karst (General Counsel, Chief Integrity & Compliance Officer, Rolls-Royce Power Systems AG) and Ben Horsley (Chief Counsel M&A, Rolls-Royce plc.).