CMS advises Panasonic Europe on sale of ADCo | News | CMS UK

International law firm CMS has advised Panasonic Europe B.V (Panasonic) on the sale of ADComms, a specialist in solutions and services to operators of mission-critical infrastructure within the UK rail sector, to Mutares SE & Co. (Mutares), a listed private equity company.

Based in the UK, ADComms designs, installs and maintains communications and security systems such as passenger information systems, telecom masts, onboard data hosting, CCTV, and other critical systems. The company has key contracts across the UK, including the delivery of systems solutions for projects with London Underground, Mersey Travel and Northern Rail.

As part of a global strategy review, Panasonic evolved its broader strategy approach to focus on three main areas: Spatial Solutions, Gemba Process and Industrial Solutions. ADComms did not fit into these three areas anymore.  

CMS advised Panasonic on the legal aspects of the sale. The transaction is expected to close in Q2 2021.

Nick Crosbie, CMS Corporate partner, comments: “We are delighted to support Panasonic on this strategic sale. As a firm, we are known for the strength of our M&A practice and our commitment to deep sector expertise. Our extensive global presence also means that we are able to advise our clients on all cross-border aspects of their transactions.” 

Volkhard Pfaff, General Counsel of Panasonic Europe, says: “The CMS team provided us with excellent support throughout the transaction, demonstrating their deep understanding of our needs. Finding the right partner to support and invest in the future of ADComms was important to us at Panasonic and CMS played a valued role in this successful outcome.”

More:  CMS advises FTSE 250 REIT LondonMetric on £120m placing

The CMS team was led by Nick Crosbie and included Lauren Wood (Corporate); Laura Bilinski and Matt Bennett (Technology & Media); and David Moore and Hanna Rannikmae (Projects). Max Grub and Tobias Will from CMS Germany and Dena Mokhberolsafa from CMS Netherlands provided German and Netherlands law expertise on the deal. 

CMS’s Corporate team comprises more than 1,000 lawyers across 72 offices worldwide, with 70 partners and over 250 lawyers based in the UK. In 2020, CMS was ranked in third place for M&A deals in Europe by both MergerMarket and Bloomberg.


More from: | Category: Legal Company News