Noerr advises AURELIUS on the takeover of two business units from major US group Woodward, Inc.


Noerr has advised the listed private equity firm AURELIUS Equity Opportunities SE & Co. KGaA on the acquisition of the Renewable Power Systems (RPS) business and the Protection Relays business from NASDAQ-listed Woodward, Inc. The combined businesses, which have more than 400 employees, generated sales of approximately US$80 million in the financial year 2019. During this transaction Noerr once again proved its market-leading expertise in the field of complex cross-border carve-outs.


Renewable Power Systems produces frequency convertors and other key components used in wind turbines at its production sites in Kempen (Germany) and Krakow (Poland). Renewable Power Systems is also involved in aftermarket activities and provides worldwide services in this segment. 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.


The closing of the transaction is expected to occur within the next few months.


AURELIUS has once again relied on Noerr during this transaction covering a large number of jurisdictions. The firm previously advised the private equity company during the sale of the SECOP Group to the major listed Japanese company Nidec and the takeover of the leading valve manufacturer VAG.


Advisors to AURELIUS: Noerr LLP


Dr Laurenz Tholen, Professor Christian Pleister (joint lead, Private Equity, Berlin/Frankfurt), Dr Michael Reiling (Digital Business, Munich), Professor Sebastian Wündisch (Intellectual Property, Dresden), Dr Torsten Kraul (Digital Business, Berlin), Dr Stefan Schwab (Employment, Berlin)


Associates:  Dr Anna Olbrys-Sobieszuk, Stefanie Heinemann, Robert Marx (all Private Equity, Berlin), Diana Richter (Digital Business, Munich), Dr Christoph Ickenroth (Employment, Berlin), Dr Dorian Legel (Banking & Finance, Frankfurt), Natalie Oei, Katja Schmitt (both Intellectual Property, Munich)


Poland (Noerr Biedecki): Ludomir Biedecki, Mateusz Slodczyk (both Corporate/M&A, Warsaw), Marta Duchlinska (Employment, Warsaw)


Bulgaria (Penkov, Markov & Partners): Vladimir Penkov, Nikolay Cvetanov, Boris Lazarov, Radost Georgieva


AURELIUS (in-house): Dr Stephan Werner (lead), Dr Frank Hübner (Tax), Florian Dehmel (Employment)

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Private Equity
Mergers & Acquisitions