Cyril Amarchand Mangaldas advised Cerberus Capital Management, L.P. on the Indian legal aspects of its acquisition of a substantial part of the mechanical engineering division of Goodwin PLC for up to approximately £1.1 billion. Davis Polk & Wardwell LLP acted as principal legal adviser to Cerberus while Hengeler Mueller also advised Cerberus on German aspects of the transaction. Ashurst Perkins Coie advised Goodwin PLC on this transaction.
The transaction involves the acquisition by an affiliate of Cerberus of a substantial part of Goodwin’s Mechanical Engineering Division, including Goodwin Steel Castings Limited, Goodwin International Limited, Noreva GmbH, Easat Group and the Pumps Division. The headline cash consideration is up to approximately £1.1 billion, subject to customary closing adjustments. The transaction is expected to complete in the first quarter of 2027, subject to required regulatory approvals, completion of an internal reorganisation and other customary closing conditions.
The CAM transaction was led by senior partner Iqbal Khan and partner Ashid Basheer, with support from principal associate Pranav Tolani, senior associate Pranav Bajaj, and associates Ishaan Kulshrestha and Pratham Shah.
Partner and head of competition Avaantika Kakkar, with support from principal associate Rajat Sharma, advised on competition aspects of the transaction.
Partner Harsha Sudhindra, with support from director – real estate Esther Joshua Philip and associate Sruthi Ramesh, advised on real estate aspects. Partner Ankita Ray, with support from senior associate Soumyashree Chowdhury and associate Saksham Kumar, advised on employment aspects. Partner Kunal Savani, with support from consultant Vaibhav Zaveri, advised on tax aspects.
Davis Polk & Wardwell LLP acted as principal legal adviser to Cerberus. Its corporate team comprised partners William J. Chudd and Will Pearce, counsel William Tong and associate Gilbert Lim. Partner Nikolaus Caro and associate K. Oliver H. Schauman advised on sponsor finance matters.
Partner Pritesh P. Shah and counsel Brette L. Trost advised on intellectual property and commercial transactions. Partner Matthew Yeowart advised on antitrust matters, while partner Dominic Foulkes advised on tax. The Davis Polk team was based in its London and New York offices.
Hengeler Mueller advised Cerberus on the German aspects of the transaction. Its Corporate/M&A team was led by partners Sebastian Schneider and Marika Öry, with partner Dirk H. Bliesener, senior associate Maximilian Kunzelmann and associate Lukas König.
Partners Henning Hilke and Simon Tänzer, along with senior associate Simon Tänzer, advised on financing matters.
The firm’s tax team comprised partner Sebastian Adam and counsel Marius Marx. Partner Michael Schramm and senior associate Barbara Boytinck advised on public law and regulatory matters, while partner Philipp Otto Neideck and senior associate Daniel Higer advised on antitrust.
Partner Christian Hoefs and senior associate Andreas Kaletsch advised on employment matters. Partner Matthias Rothkopf, senior associate Róża Grzybowska and associate Fabian Krome advised on IP/IT. The Hengeler team was spread across its Frankfurt, Düsseldorf and Berlin offices.
Ashurst Perkins Coie advised Goodwin PLC on the sale. Its cross-border corporate team was led by partners Tom Mercer and Hayley Gow, with senior associates Lottie White, Alicia Ingham, Louise Chan and Colin Bugler, assisted by associates Dominic Armstrong, Patrick Chambers and Amelia Howison and Trainee Millie McElroy.
The firm’s competition team comprised partner Duncan Liddell, senior associate Olivia Spong and associate Florence Chan. Partners Nicholas Gardner and Patricia Allen, supported by senior associates Ben Doeh and Euan Mills and associates Hugh Riisfeldt, Beth Sercombe and Natalie Gunner, advised on tax aspects.
