Schneider Electric’s $1.25 Billion Acquisition of ASCO Power Technologies

Jenner & Block, Bryan, González Vargas & González Baz, Morgan, Lewis & Bockius and Baker McKenzie advised on the deal

Schneider Electric, the global specialist in energy management and automation, announced today that it has signed an agreement to acquire Asco Power Technologies (“ASCO”), a leader in the Automatic Transfer Switch (“ATS”) market for a consideration of $1,250M in an all cash transaction. The acquisition enhances Schneider Electric’s EcoStruxure Power Platform in key markets and segments.

ASCO currently employs 2,000 people, mainly in North America, and operates 7 manufacturing sites. ASCO, founded in Baltimore, has a long history in Power Management first introducing ATS in 1925 and later expanding into surge, loadbanks, and fire pump and control applications. ASCO’s products are sold under the brands of ASCO, Firetrol, Avtron, Froment. Since December 2016, ASCO has been operating as a autonomous part of Vertiv (formerly Emerson Network Power).

ASCO is a market leader in power source management for critical buildings in North America. ATS automatically transfers critical loads from the primary source of power to the back-up power source in the event of a power outage. It requires compliance with specific technical regulation standards. Schneider Electric is the market leader in the ATS market in China. Both companies also operate in the ATS market in the rest of the world. With this acquisition Schneider Electric becomes the global market leader in ATS. With the addition of the ASCO portfolio, Schneider Electric’s EcoStruxure Power Platform is further enhanced in North America with additional opportunities in the rest of the world. From an end-market perspective, the acquisition further enhances Schneider Electric’s value proposition in the end-to-end energy management chain for customers in healthcare, financial services, Data centers and other critical buildings.

Jenner & Block advised Schneider Electric with Mercedes M. Hill (Picture), Kristen M. Boike, Geoffrey M. Davis, S. Tony Ling, E. Lynn Grayson, Lee K. Van Voorhis, Adam Petravicius, Andrew D. Irwin, Emma J. Sullivan, Breanne K. Long, Young Woo (Ariel) Cho, Andrew S. Carlins, Wei Xu, Jeremy A. Casper, Rita L. Feikema and Kathleen Olivi.

Bryan, González Vargas & González Baz advised Schneider Electric with Adriana Hernández.

Morgan, Lewis & Bockius advised ASCO Power and Vertiv Group with James Loss, Todd Hentges, Christopher Amandes, Randall McGeorge, Timothy Rupp, Randall J. Wood, Jeffrey B. Salinger, Hank Weintraub and Dana Gross.

Baker McKenzie advised ASCO Power and Vertiv Group with Daniel Sánchez Elizondo, Juan Carlos Valles Zavala, Fabián Monsalve-Agraz, Sofía Guzmán Valle, María José Casillas, Verónica Rejon, Alejandra Muriel Vizcaino and Juan Carlos Guerra.

 

Involved fees earner: Adriana Hernández – Bryan, González Vargas & González Baz; Mercedes Hill – Jenner & Block; Young Woo Cho – Jenner & Block; Jeremy Casper – Jenner & Block; Rita Feikema – Jenner & Block; Kristen Boike – Jenner & Block; Andrew Carlins – Jenner & Block; Geoffrey Davis – Jenner & Block; Lynn Grayson – Jenner & Block; Lee Van Voorhis – Jenner & Block; Andrew Irwin – Jenner & Block; Emma Sullivan – Jenner & Block; James Loss – Morgan Lewis; Todd Hentges – Morgan Lewis; Timothy Rupp – Morgan Lewis; Randall Wood – Morgan Lewis; Jeffrey Salinger – Morgan Lewis; Christopher Amandes – Morgan Lewis; Randall McGeorge – Morgan Lewis; Dana Gross – Morgan Lewis; Daniel Sánchez Elizondo – Baker McKenzie; Juan Carlos Valles Zavala – Baker McKenzie; Fabián Monsalve-Agraz – Baker McKenzie; Maria Jose Casillas-Gonzalez – Baker McKenzie;

Law Firms: Bryan, González Vargas & González Baz; Jenner & Block; Morgan Lewis; Baker McKenzie;

Clients: Schneider Electric; Vertiv Group Corporation; ASCO Power Technologies, L.P.;

 

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Author: Ambrogio Visconti