Triton’s Acquisition of 76% Stake of RENK

Latham & Watkins advised financial investor Triton on the acquisition, as well as on a voluntary public tender offer to all shareholders of RENK AG to acquire their shares. ARQIS, RCAA and Held Jaguttis advised RENK AG.

Triton executed the acquisition of 76% of RENK AG’s shares from Volkswagen.

RENK AG is a manufacturer of special gear units and transmissions for tracked vehicles, industrial applications and the shipbuilding industry, as well as components for propulsion technology and test systems, supplying customers all over the world. The Company holds a globally leading position for automatic transmissions for tracked vehicles, gear systems for navy vessels and horizontal slide bearings.

Since its establishment in 1997, Triton has sponsored nine funds, focusing on businesses in the industrial, business services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe. The 41 companies currently in Triton’s portfolio have combined sales of around €16.5 billion and around 80,000 employees.

Latham advised Triton in the transaction with a team led by Munich partner Rainer Traugott (Picture), with associate Stephan Hufnagel, Hamburg partner Dirk Kocher and counsel Andreas Lönner. Advice was also provided on tax matters by Munich partner Stefan Süß; by Munich partner Anne Kleffmann and associate Annika Juds on employment matters; by Frankfurt partner Alexandra Hagelüken on finance matters; on corporate matters by Munich associates Corinna Freudenmacher, Andreas Holzgreve, Hendrik Ley, and by Hamburg associates Daniel Kreutzmann and Maximilian Berenbrok; by counsel Jana Dammann and associate Niklas Brüggemann on antitrust matters; and by Frankfurt counsel Joachim Grittmann on regulatory matters, with advice also provided by colleagues in Washington, D.C.

Latham & Watkins LLP represented Triton also on the CFIUS clearance process. The CFIUS team was led by partner Les Carnegie and counsel Rachel Alpert, with associate Tahura Lodhi, in Washington, D.C.

ARQIS’ team included Dr. Christof Schneider (Lead; Corporate/M&A), Dr. Andrea Panzer-Heemeier, Dr. Hendrik von Mellenthin (both Labour Law); Associates: Nima Hanifi-Atashgah, Elisabeth Falterer (both Corporate/M&A).

RCAA (Frankfurt am Main): Evelyn Niitväli (Merger Control).

Held Jaguttis (Cologne): Dr. Malte Jaguttis (Public Law).
Involved fees earner: Elisabeth Falterer – Arqis; Nima Hanifi-Atashgah – Arqis; Andrea Panzer-Heemeier – Arqis; Christof Schneider – Arqis; Hendrik von Mellenthin – Arqis; Malte Jaguttis – Held Jaguttis; Rachel Alpert – Latham & Watkins; Maximilian Berenbrok – Latham & Watkins; Niklas Brüggemann – Latham & Watkins; Les Carnegie – Latham & Watkins; Jana Dammann de Chapto – Latham & Watkins; Corinna Freudenmacher – Latham & Watkins; Joachim Grittmann – Latham & Watkins; Alexandra Hagelüken – Latham & Watkins; Andreas Holzgreve – Latham & Watkins; Stephan Hufnagel – Latham & Watkins; Annika Juds – Latham & Watkins; Anne Kleffmann – Latham & Watkins; Dirk Kocher – Latham & Watkins; Daniel Kreutzmann – Latham & Watkins; Hendrik Ley – Latham & Watkins; Tahura Lodhi – Latham & Watkins; Andreas Lönner – Latham & Watkins; Stefan Süss – Latham & Watkins; Rainer Traugott – Latham & Watkins; Evelyn Niitväli – RCAA;

Law Firms: Arqis; Held Jaguttis; Latham & Watkins; RCAA;

Clients: Renk AG; Triton Partners;