internationalWKB advised Schneider Electric on the Polish aspects of its disposal of its Eurotherm business unit to Watlow Electric Manufacturing Company, a global producer of complete industrial thermal systems.
WKB supported Schneider Electric by way of the vendor’s legal due diligence in respect of the Polish subsidiary of Eurotherm (i.e. Eurotherm Poland sp. z o.o.), including Eurotherm’s core manufacturing operations in Lędziny, Poland.
WKB lawyers also assisted Slaughter and May (Schneider Electric’s global counsel on this transaction) in the negotiation of Polish aspects of the share purchase agreement concerning the entire Eurotherm business.
General transaction support was provided by WKB’s M&A team led by Ben Davey with the assistance of Dominik Kulpa. The vendor’s due diligence process was handled by an interdisciplinary team of WKB lawyers which included Marta Czarnecka who handled the real estate issues, Aleksandra Bączykowska and Klaudia Kacprzyk who advised on the IP-related matters, Anna Fennig who was responsible for corporate issues, Karolina Miksa and Klaudia Radwańska who handled the data protection matters, Magdalena Kurowicka who was responsible for employment matters, and Marta Wasik who handled the insurance issues.
The transaction is subject to certain conditions, including customary regulatory approvals and employee consultation. Subject to the satisfaction of these conditions, the transaction is expected to complete before the end of 2022.
Eurotherm is a premier global provider of temperature, power, and process control, measurement and data management equipment, systems, software, and services for global industrial markets. Its headcount is around 650 people. It is currently reported under the Industrial Automation business of Schneider Electric.
Watlow is a global industrial technology and manufacturing leader providing world-class engineering expertise and innovative thermal products and systems. The company holds more than 1100 patents and employs more than 4,200 team members working in 13 manufacturing facilities and five advanced technology and development centers in the United States, Mexico, Europe and Asia. Watlow covers 95 countries through sales and distribution offices around the world.
More info:
https://www.se.com/ww/en/assets/564/document/334451/financial-release-sale-of-eurotherm.pdf
