DLA Piper has advised Crompton Greaves on the €150 million purchase of the Spanish company ZIV Aplicaciones y Tecnología S.L., a specialist in electrical systems.
The sellers were the private equity company N+1, owner of 74.5% of the company, and its management team, holder of the remaining 25.5%. The Basque company ZIV is a manufacturer and service provider in the smart grid, smart metre and grid communication systems.
Crompton Greaves, part of the Avantha Group, is a company listed in India. Crompton Greaves is a leading electrical equipment maker and service provider in India and worldwide, with annual turnover of US $ 2.3 billion.
The transaction was conducted by a team of lawyers from the Corporate practice of DLA Piper's Madrid office, led by partners Juan Picón and José Antonio Sánchez-Dafos, and assisted by, among others, senior associate Santiago Lardies. Jorge Vasallo and Julian De Unamuno, from Arcano, were the buyer's financial advisors.
Juan Picón said: "despite the economic situation, we see that price expectations are keeping the M&A sector active and that, in addition to private equity companies, industrial buyers are finding opportunities. Our global presence enables us to be in a strong position to advise on transactions such as this, which involve multiple countries. I believe this is a trend we will continue to see more in the future.