Shoosmiths has advised ERIKS 海角视频 Holdings on the strategic disposal of the business and assets of its West Midlands-based Revolvo operation to US corporate The Timken Company.
ERIKS 海角视频 is a part of ERIKS NV, an international industrial service provider offering a range of mechanical engineering components and associated technical and logistics services.
Revolvo is a specialist manufacturer of split roller bearings and special roller bearings for industrial applications in process and heavy industries, such as mining, power generation and marine.
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Timken has acquired Revolvo as part of its wider growth strategy.
The Shoosmiths team consisted of partners Martin Letza (corporate), Charles Rae (employment) Paul Carney (pensions) and associates Gareth Davies (corporate) and Simon McArdle (commercial).
The team advised ERIKS 海角视频 on all aspects of the disposal including the complex sale agreement, TUPE and pensions advice, together with negotiating transitional arrangements and an ongoing distribution agreement between the two parties.
Nicola Brain (associate) acted on the real estate elements of the transaction.
Mr Letza said: “We have advised ERIKS 海角视频 for a number of years and have completed a number of significant strategic deals for them this year.
“The team have again thoroughly enjoyed working with the ERIKS 海角视频 team and look forward to continuing to support them going forwards. We wish Timken and Revolvo every success.”