The globally active energy technology group Siemens Energy has sold its high-voltage grid component business, Trench Electric, to investment firm Triton. Siemens Energy relied on CMS Austria’s tax law expertise in the course of the sale. The deal closed in late March, and the parties have agreed not to disclose the details of the transaction.
"We provided extensive tax law advice to Siemens Energy on structuring the sale and during the contract negotiations,” partner Sibylle Novak says about the successful deal.
Siemens Energy began the move to carve out and separately manage Trench already in the last financial year. With the sale, the group continues to implement its strategic decision to focus its portfolio more closely on core business. Trench, a medium-sized producer of high-voltage grid components, will continue to implement its ambitious growth plans under the ownership of Triton in the future.
In addition to partner Sibylle Novak, lawyers Thomas Aspalter and Bernhard Oreschnik were involved in the transaction on behalf of CMS Austria. The international CMS team led by partner Jörg Schrade (CMS Germany) covered several jurisdictions.
About Trench
Specialised in instrument transformers and coil products, Trench is considered a global market leader and employs 2,400 workers across Europe, North America, and China. Trench has nine factory locations, including in Germany, Austria, France, Italy, Canada, and Bulgaria.
