A team from the CMS network advised Apollo Global Management, Inc. on the acquisition of a substantial portion of SPX FLOW, Inc.’s former Power and Energy reportable segment.
Under the terms of the purchase agreement, the Apollo fund affiliate purchased the Power and Energy business in an all-cash transaction with an enterprise value of $475 million, subject to adjustments at the closing date. The transaction closed on 30 March 2020.
Apollo is a leading global alternative investment manager with offices in the United States, Europe and Asia. Apollo had assets under management of approximately $323 billion as of 30 September 2019 in credit, private equity and real assets funds invested across a core group of nine industries.
The CMS multi-jurisdictional team, composed of more than 50 lawyers from CMS UK and France, advised on the M&A/corporate, employment law, real estate, litigation, commercial contracts, industrial, intellectual property, banking and tax aspects of the transaction.
For this operation, the CMS team, coordinated by Chris Watson, Sarah Hanson and Graeme Bruce, partners (CMS UK), Alexandra Rohmert and Anne-Laure Villedieu, partners (CMS France) was composed of :
CMS London / Scotland: Chris Watson, Sarah Hanson, Graeme Bruce and Peter Lewis, Partners, for corporate/M&A, commercial law/industrial and intellectual property aspects; Alistair Hill, Partner and Sarah Ozanne, Of Counsel for employment law aspects; Alan Hughes, Of Counsel, for real estate law aspects; Steven Corney, Partner, for litigation aspects and Samantha Dames, Partner, for tax aspects.
CMS France : Alexandra Rohmert, partner, Vincent Desbenoit, Marion Houdu, lawyers, for corporate aspects/M&A; Anne-Laure Villedieu, partner, Clotilde Patte and Mathilde Biermann, lawyers, for commercial law / industrial and intellectual property aspects; Claire Vannini, partner, and Dimitri Guarneri, lawyer for regulatory aspects; Caroline Froger-Michon, partner, and Aurélie Parchet, lawyer, for employment law aspects; Aline Divo, partner and Arnaud Valverde, lawyer, for real estate law aspects; Olivier Kuhn, partner and Anne Renard, lawyer, for litigation aspects; Alexandre Bordenave, lawyer, for banking aspects and Edouard Milhac, parner, for tax aspects.
Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as Apollo's legal counsel and Goldman Sachs, Mizuho and Natixis are serving as Apollo's financial advisors.
BNP Paribas is serving as financial advisor to SPX FLOW and Fried, Frank, Harris, Shriver & Jacobson LLP is serving as legal counsel, together with Bryan Cave Leighton Paisner and Eversheds Paris for the French legal aspects.
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