Hamburg – Wärtsilä Deutschland GmbH, part of the Finnish Wärtsilä Group, has sold all its shares in Wärtsilä Jovyatlas GmbH, a manufacturer of power supplies and resistor solutions, to German company Jacob Waitz Industrie GmbH. The details of the deal were not disclosed.
A CMS team comprising partner Dr Henrik Drinkuth and Dr Anja Wiedemann advised Wärtsilä on all legal aspects of the transaction. Wärtsilä has relied on the expertise of CMS on a regular basis since 2005, most recently in connection with the sale of German company Wärtsilä ELAC Nautik GmbH to UK-based Cohort plc in 2019.
Wärtsilä Corporation is a global leader in technical solutions for the shipping and energy markets. It operates over 200 locations in more than 80 countries worldwide. Wärtsilä is listed on Nasdaq Helsinki.
Wärtsilä Jovyatlas GmbH was established in 1945 and is headquartered in Jemgum, Germany. The firm makes uninterruptible power supplies and resistor solutions. According to the company’s own figures, Jovyatlas has around 125 employees.
Kassel-based Jacob Waitz Industrie GmbH is an owner-managed group of companies with a focus on machinery and plant engineering, real estate and the agriculture and forestry sectors. The company employs around 240 people and operates worldwide.
Dr Henrik Drinkuth, Partner
Dr Anja Wiedemann, Senior Associate, both Corporate/M&A