An interdisciplinary CMS team led by partner Clemens Grossmayer has provided comprehensive legal advice to the Styrian company AVL List GmbH on the sale of its subsidiary Piezocryst Advanced Sensorics GmbH, a leading provider of highly specialised piezoelectric sensors, to the listed company Spectris PLC. The transaction is still subject to customary regulatory approvals and is expected to close by the end of the year.
Piezocryst, known for its outstanding development and production expertise, has become an extremely successful and profitable member of the AVL group. Spectris, already a world leader in testing equipment and precision measurement due to its subsidiary Hottinger Brüel & Kjær (HBK), intends to leverage Piezocryst’s full potential to an even greater extent. Piezocryst will remain closely linked to AVL through a strategic partnership, both as a customer and as a partner in innovation and distribution.
The CMS team advised AVL extensively on all legal aspects of the transaction, including arrangements for its future strategic partnership with Piezocryst. In addition to lead partner Clemens Grossmayer, partner Florian Mayer (both Corporate/M&A), partner Dieter Zandler (Antitrust), partner Gabriela Staber (Intellectual Property) and lawyer Bernhard Oreschnik (Tax) were part of the team. The buyer side was advised by Freshfields Bruckhaus Deringer.
About AVL
AVL is one of the world’s leading technology companies, specialising in development, simulation and testing in the automotive industry, and in other sectors such as rail, marine and energy. Based on extensive research activities, AVL delivers concepts, technology solutions, methodologies and development tools for sustainable, safe and modern mobility and beyond.
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