LONDON, United Kingdom – 17 January 2012 – CMS Cameron McKenna LLP, with assistance from 8 different CMS offices and local lawyers across Europe and beyond, has successfully advised Kennametal on the signing of a definitive agreement to purchase the Deloro Stellite Group from Duke Street Capital for approximately €277 million.
Kennametal is a leading global provider of manufacturing products and services that touch nearly every manufacturing process. The acquisition of Deloro Stellite, global manufacturer and provider of alloy-based critical wear solutions for extreme environments, is in alignment with Kennametal’s growth strategy and positions the company to further achieve geographic and end market balance.
Kevin G. Nowe, Vice President, Secretary and General Counsel of Kennametal Inc. said that “CMS’ jurisdictional footprint was a great fit for Kennametal on this transaction, which spanned across Europe and China, whilst my team dealt with the North American aspects. They were able to effectively coordinate with our offices and seamlessly provide expertise in relevant areas.”
CMS corporate partner Martin Mendelssohn led the transaction for Kennametal and commented that, “We have been working closely with our CMS colleagues and local lawyers in over 8 countries, carrying out the relevant diligence and documenting this international transaction”.
“We are pleased that through the CMS multijurisdictional footprint we have been able to successfully assist on this significant transaction for Kennametal”.
In London, Martin Mendelssohn led on the transactional aspects assisted by senior associate Martin Treagus and by Nicholas Kuria, Dhruv Chhatralia and James Dickie. They were assisted closely by Aaron Fairhurst, Nicholas Stretch and Sarah Ozanne, and associates Tair Hussain, Rachel Pinto and Rebecca Little in the UK; Andrew Halper, Michael Wong, Hugh Zhou and Steve Yu in China; Heike Wagner, Till Liebau and Stefan Lehr in Germany; and Pietro Cavasola, Serena Carroli and Davide Marchetta in Italy.
Due diligence was necessary in a number of countries, made possible with further assistance from CMS offices in France, Luxembourg, Russia and Switzerland. The Kennametal in-house team dealt with the North American aspects.
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