Platinum Equity’s $1.68 Billion Acquisition of Club Car

Simpson Thacher represented Ingersoll Rand, while Willkie Farr & Gallagher represented Platinum Equity in the transaction. LK Shields Solicitors LLP acted on the Irish aspects of the acquisition.

Ingersoll Rand Inc. (NYSE: IR) executed the sale of its Specialty Vehicle Technologies Segment (“Club Car”) to the global private equity firm Platinum Equity in an all-cash transaction valued at $1.68 billion. The transaction is expected to be completed by the third quarter of 2021, subject to customary closing conditions.

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $23 billion ofassets under management and a portfolio of approximately 40 operating companies that serve customers aroundthe world.

Club Car is a leader in the design, manufacture and marketing of golf, utility and consumer low-speed vehicles for commercial utility and personal transportation.

Ingersoll Rand is a global provider of mission-critical flow creation and industrial solutions, which it sells across multiple attractive end-markets within the industrial, energy and medical industries.

The Simpson Thacher team advising Ingersoll Rand included Eric Swedenburg (Picture), Johanna Mayer and Izaak Lustgarten (M&A); Andrew Purcell and Dmitry Zelik (Tax); Tristan Brown and Ashlie Lawton (Employee Benefits); Lori Lesser, Amber Harezlak, Corina McIntyre and Samuel Watters (IP); James Cross and Matthew Farrell (Banking and Credit); Richard Fenyes (Capital Markets); Dennis Loiacono and Stephanie Brenner (Real Estate); Michael Isby and Timothy Mulvihill (Environmental); and Sara Razi and Jamie Logie (Antitrust).

Willkie Farr & Gallagher represented Platinum Equity with partners Cristopher Greer, Joshua Deason and Jason Pearl and associate Michael Arena.

The LK Shields’ team comprised of Jennifer McGuire (Partner, M&A/Corporate) with assistance from James Byrne and Jane O’Grady.

Involved fees earner: James Byrne – LK Shields Solicitors LLP; Jennifer McGuire – LK Shields Solicitors LLP; Jane O’Grady – LK Shields Solicitors LLP; Stephanie Brenner – Simpson Thacher & Bartlett; Tristan Brown – Simpson Thacher & Bartlett; James Cross – Simpson Thacher & Bartlett; Matthew Farrell – Simpson Thacher & Bartlett; Richard Fenyes – Simpson Thacher & Bartlett; Amber Harezlak – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Ashlie Lawton – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; James Logie – Simpson Thacher & Bartlett; Dennis Loiacono – Simpson Thacher & Bartlett; Izaak Lustgarten – Simpson Thacher & Bartlett; Johanna Mayer – Simpson Thacher & Bartlett; Corina McIntyre – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; Sara Razi – Simpson Thacher & Bartlett; Eric Swedenburg – Simpson Thacher & Bartlett; Samuel Watters – Simpson Thacher & Bartlett; Dmitry Zelik – Simpson Thacher & Bartlett; Michael Arena – Willkie Farr & Gallagher; Joshua Deason – Willkie Farr & Gallagher; Cristopher Greer – Willkie Farr & Gallagher; Jason Pearl – Willkie Farr & Gallagher;

Law Firms: LK Shields Solicitors LLP; Simpson Thacher & Bartlett; Willkie Farr & Gallagher;

Clients: Ingersoll-Rand plc; Platinum Partners;

Author: Martina Bellini