STEAG’s Acquisition of GILDEMEISTER energy solutions

Orrick advised German energy group STEAG on the purchase of GILDEMEISTER energy solutions, a business segment belonging to machine tool manufacturer DMG MORI AG.

Active in energy production for more than 80 years, STEAG provides customers, both nationally and internationally, with integrated solutions in energy and heat production, as well as related technical services. With almost 6,500 employees, the group generated revenue of €3.6 billion in 2017. STEAG subsidiary STEAG Energy Services GmbH (SES) focuses on the planning, development, construction, operation and optimization of energy production facilities of all types, with more than 2,000 employees globally. By integrating the products and services of GILDEMEISTER energy solutions, SES will strengthen its position in the international growth market for renewable energy.

The finalization of the transaction is still subject to the approval of the antitrust authorities. Once the transaction is completed, the new company will operate as STEAG Solar Energy Solutions (SENS).

Based in Würzburg, Germany, GILDEMEISTER energy solutions is an internationally operating service company in the field of photovoltaics with around 120 employees, operating between nine locations in Germany and abroad.

DMG MORI AG is a worldwide leading manufacturer of machine tools with a revenue of more than €2.6 billion and about 7,500 employees.

STEAG was advised by an Orrick team lead by M&A and Private Equity partners Sven Greulich (Picture) and Oliver Duys. The team also included partners Nikita Tkatchenko (M&A and Private Equity, Düsseldorf), Carlo Montella (Energy & Infrastructure, Rome), André Zimmermann (Employment Law, Düsseldorf), Till Steinvorth (Antitrust Düsseldorf), and Christian Schröder (Data Privacy IT/IP, Düsseldorf); counsels Anna Spano (M&A and Private Equity, Milan) and Mario Scofferi (Litigation, Milan); and associates Vanessa Sousa Höhl, Onur Öztürk (both M&A and Private Equity, Düsseldorf), Laura Galbiati (General Corporate, Milan), Rebecca Grevitt, Emily Yung (both Energy & Infrastructure, London), Julius Schradin (Antitrust, Düsseldorf), and Robert Weinhold (Data Privacy IT/IP, Düsseldorf).

Involved fees earner: Oliver Duys – Orrick; Laura Galbiati – Orrick; Sven Greulich – Orrick; Rebecca Grevitt – Orrick; Carlo Montella – Orrick; Onur Öztürk – Orrick; Julius Schradin – Orrick; Christian Schröder – Orrick; Mario Scofferi – Orrick; Vanessa Sousa Höhl – Orrick; Anna Spanò – Orrick; Till Steinvorth – Orrick; Nikita Tkatchenko – Orrick; Robert Weinhold – Orrick; Emily Yung – Orrick; André Zimmermann – Orrick;

Law Firms: Orrick;

Clients: STEAG GmbH;