Noerr advises Schaltbau on the sale of its industrial brakes business
Noerr has advised the listed Schaltbau Holding AG and its subsidiary PINTSCH BAMAG Antriebs- und Verkehrstechnik GmbH on the sale of their industrial brakes business. PINTSCH BUBENZER GmbH is being taken over by the strategic investor Dellner Brakes AB, which belongs to the Swedish Dellner Group. Dellner is being assisted in the purchase by the investment company Active Ownership Capital (Luxembourg).
The contractual arrangement is the result of a structured sales process which Schaltbau’s management initiated as part of the company’s restructuring which has been in progress since early 2017. The proceeds from the transaction will be used by Schaltbau to finance the loan repayments due at the end of February, without having to borrow new funds. Furthermore, the sale serves Schaltbau’s strategic realignment, reduces the group’s complexity and strengthens its core business as an important supplier to the railway industry. Closing of the transaction is expected to take place by the end of February.
Noerr advised Schaltbau and PINTSCH BAMAG on the sale with a team led by the partners Sebastian Voigt and Jens Gehlich. Noerr’s mandate also included restructuring the performance relationships between the Schaltbau Group and Pintsch Bubenzer.
Advisors to Schaltbau Holding AG and PINTSCH BAMAG Antriebs- und Verkehrstechnik GmbH: Noerr LLP
Sebastian Voigt (Private Equity) and Jens Gehlich (Corporate/M&A, joint lead, Dresden), Dr Fabian Badtke (Antitrust, Frankfurt)
Associates: Uwe Brendler, Dominik Pokora (both Corporate/M&A), Dr Katharina Klett (IP), Peter Scheuch (Tax, all Dresden), Michael Tommaso (Tax, Berlin)