Noerr and Penkov, Markov & Partners have advised private equity firm Aurelius Equity Opportunities SE & Co. KGaA on the acquisition of the Renewable Power Systems and Protection Relays businesses from NASDAQ-listed Woodward, Inc.
The combined businesses, which have more than 400 employees, generated sales of approximately USD 80 million in financial year 2019.
Renewable Power Systems produces frequency convertors and other key components used in wind turbines at its production sites in Kempen (Germany) and Krakow. The Protection Relays business develops and markets mainly medium and high-voltage protection relays for industrial applications. Aurelius will separate the two businesses from the structures of Woodward and set them up as independent businesses.
Closing is expected to occur within the next few months.
Noerr's team was jointly led by Germany-based Partners Laurenz Tholen and Christian Pleister and included Partners Sebastian Wundisch and Michael Reiling and Associated Partners Torsten Kraul and Stefan Schwab, as well as Poland-based Associated Partner Ludomir Biedecki, Associate Mateusz Slodczyk, and lawyer Marta Duchlinska. Also involved were German Associates Anna Olbrys-Sobieszuk, Stefanie Heinemann, Robert Marx, Diana Richter, Christoph Ickenroth, Dorian Legel, Natalie Oei, and Katja Schmitt.
The Penkov, Markov & Partners team included Senior Partner Vladimir Penkov, Managing Partner Nikolay Cvetanov, and Attorneys at Law Boris Lazarov and Radost Georgieva.