International law firm Salans has advised AXA Private Equity, a leading private equity company, on the sale of its equity investment in the Phoenix / Strack Group to the American Curtiss Wright Group for EUR 82 million (USD 109 million).
The Phoenix / Strack Group is a market leader in the development and production of industrial armatures, such as valves for blue-chip clients in energy, petrochemical and chemical industries. With 282 employees, the group generated a turnover of approximately EUR 50 million in the past year.
The Salans team was led by Holger Scheer, an M&A and private equity specialist. The firm previously advised AXA Private Equity both on its equity investment in the Phoenix / Strack Group in 2010 and in the add-on acquisition of Daume Regelarmaturen in 2011.
The transaction is still subject to regulatory approval.
Consultants AXA Private Equity:
Salans: Holger Scheer, LL.M. (Overall control, Office Managing Partner Frankfurt, M&A/Private Equity), Dr. Jörg Karenfort (Partner, competition law, Berlin); Counsel: Dr. Volker Junghanns, LL.M. (Overall control, M&A/Private Equity, Frankfurt), Tobias von Gostomski(Banking & Finance, Frankfurt), Dr. Veit Vossberg (Employment law, Frankfurt), Dr. Stefanie Greifeneder (IP/Commercial, Frankfurt), Dr. Josef Hainz (Competition law, Berlin); Associates: Carolin Gaethke (M&A/Private Equity, Frankfurt), Christoph Breithaupt (M&A/Private Equity, Frankfurt), Judith Spiegel (IP/Commercial, Frankfurt).
