DGAP-News: Willkie Farr & Gallagher LLP / Key word(s): Investment/Merger

2015-11-03 / 14:59

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Willkie and Bracewell advise Dexter Axle Company, a portfolio company of The Sterling Group, on the agreement to acquire the vehicle technologies business from AL-KO KOBER SE.

The combination of the division AL-KO Fahrzeugtechnik (vehicle technology) of AL-KO KOBER SE, based in Kötz near Augsburg, and the manufacturer of axles Dexter Axle, based in Elkhart, Indiana (USA), will be named "DexKo Global Inc.". The execution of the transaction is planned to take place until 1 January 2016.

As part of the transaction the legal structure of AL-KO Fahrzeugtechnik, which is operating in about 40 locations in Europe, America, Asia, Africa and Australia has been adjusted in the wake of a global re-structuring. AL-KO KOBER SE transfers its vehicle technology division to DexKo Global Inc.

The majority of DexKo Global Inc. will be owned by funds managed by Houston based The Sterling Group, Dexter Axle's current majority owner. AL-KO KOBER SE will receive shares of the emerging company as consideration for the contribution of the vehicles technology business and will be a shareholder in DexKo Global Inc.

Background of the transaction:

Dexter Axle, headquartered in Elkhart, Indiana, USA, is the leading designer and manufacturer in North America of trailer axles, brakes and related components for the utility trailer, recreational vehicle, heavy duty, manufactured housing, agricultural, marine, and specialty trailer markets.

Headquartered in Kötz, Germany, AL-KO Fahrzeugtechnik is the leading European designer and manufacturer of trailer and caravan components, chassis and motorized chassis.

After the merger, DexKo Global Inc. will be a global leader in trailer axle and chassis supply with annual sales of nearly 850 million euros. AL-KO Fahrzeugtechnik will conduct the European as well as the global Non-North American business from its main seat in Kötz. The North American business will continue to be run from Elkhart.

Transaction advisors:

The cross-border transaction was advised on the buy-side jointly by Bracewell & Giuliani and Willkie Farr & Gallagher who both have an existing relationship to The Sterling Group.

The transaction team was led on the side of Bracewell by Scott Miller (Corporate/M&A, Houston) and on the side of Willkie by Dr. Maximilian Schwab and Mario Schmidt (both Corporate/M&A, Frankfurt am Main).
The Willkie team included partners Bruce Herzog (Corporate/M&A, Houston), Jan Wilms (Finance, Frankfurt am Main), Dr. Patrick Meiisel (Tax, Frankfurt am Main), Bettina Bokeloh (Tax, Frankfurt am Main), Dr. Christian Rolf (HR, Frankfurt am Main), Susanne Zuehlke (Antitrust, Brussels/Frankfurt), Annette Peron (Corporate/M&A, Paris), Gianluca Cattani (Corporate/M&A, Rome), Claire McDaid (Corporate/M&A, London), Special European Counsel Dr. Jasmin Dettmar (Finance, Frankfurt am Main), Jason Whiteley (Corporate/M&A, Houston) as well as associates Andreas Sandberger (Corporate/M&A, Frankfurt am Main), Johannes Eckhardt (Corporate/M&A, Frankfurt am Main), Andreas Feith (Corporate/M&A, Frankfurt am Main), Martin Waskowski (Corporate/M&A, Frankfurt am Main), Jochen Riechwald (HR, Frankfurt am Main), Dr. Jan Claudio Munoz Gonzalez (Corporate/M&A, Frankfurt am Main), Stefan Bührle (Corporate/Commercial, Frankfurt am Main), Sebastian Rabe (Corporate/Commercial, Frankfurt am Main), Andreas Knödler (Corporate/M&A, Frankfurt am Main), Christian Grahlmann (Corporate/M&A, Frankfurt am Main), Xavier Nassoy (Corporate/Financial, Paris), Laure Pistre (Corporate/Financial, Paris), Zachary Chittick (Corporate/M&A, Houston), Joshua Begner (Corporate/M&A, London), Iben Madsen (Business Reorganization & Restructuring, London) and Jerry Kelly (Corporate/M&A, London).
The Bracewell team included partners Scott Miller (Corporate/M&A), Jason Hutt (Environmental) and Dan Hemli (Antitrust/Competition), as well as associates Ben Martin (Corporate/M&A), Kate Barrington (Corporate/M&A), Jesse Wallin (Finance), Ben Fedorko (Corporate/M&A), Michael Weller (Environmental) and Rebekah Scherr (Antitrust/Competition).
Willkie Farr & Gallagher LLP is an international law firm with more than 650 attorneys with offices in New York, Washington, Paris, London, Milan, Rome, Houston, Frankfurt am Main and Brussels. The headquarters are located in New York, 787 Seventh Avenue.

Bracewell & Giuliani LLP is an international law firm with 450 lawyers in Texas, New York, Washington, D.C., Connecticut, Seattle, Dubai, and London.
Frankfurt am Main, 3 November 2015



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2015-11-03 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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