Shearman & Sterling is representing B/E Aerospace, Inc. (B/E Aerospace) and its wholly owned subsidiary, B/E Aerospace Systems Holding GmbH, in its acquisition of Interturbine Projekt Management GmbH (IPM) and its direct and indirect subsidiaries for approximately EUR 200 million in cash.
Among other customary conditions for transactions of this nature, the transaction is conditional upon obtaining certain German regulatory approvals. The acquisition is expected to close in the fourth quarter of 2012.
B/E Aerospace is the world’s leading manufacturer of aircraft cabin interior products and the world’s leading distributor of aerospace fasteners and consumables. B/E Aerospace designs, develops and manufactures a broad range of products for both commercial aircraft and business jets. B/E Aerospace manufactured products include aircraft cabin seating, lighting, oxygen, and food and beverage preparation and storage equipment. The Company also provides cabin interior design, reconfiguration and passenger-to-freighter conversion services. Products for the existing aircraft fleet—the aftermarket—generate approximately 50 percent of sales. B/E Aerospace sells and supports its products through its own global direct sales and product support organization. B/E Aerospace is listed on NASDAQ.
IPM is recognized around the world as an approved supplier of “CES” materials such as standard hardware, raw and semi-finished metal products and materials, consumables, chemicals as well as composites to the aerospace industry, MRO’s and airlines, consolidating more than 500,000 part numbers/specifications from 3,000 sources.
The Shearman & Sterling team includes partner Creighton Condon (New York-Mergers & Acquisitions); counsel Sean Skiffington (Toronto-Mergers & Acquisitions); and associates Nader Dabbo and Nhung Pham (both New York-Mergers & Acquisitions). On matters related to German law, the Shearman & Sterling team included partner Rainer Wilke (Düsseldorf-Mergers & Acquisitions) and associates Andreas Löhdefink (Frankfurt-Mergers & Acquisitions), André Vollmerhaus (Düsseldorf-Mergers & Acquisitions), Stefanie Valta (Frankfurt-Mergers & Acquisitions) and Dirk Neumann (Düsseldorf-Mergers & Acquisitions).
Other lawyers involved include partners Bodo Bender (Frankfurt-Tax),Don Lonczak (Washington, DC-Tax), Hans Jürgen Meyer-Lindemann(Brussels/Düsseldorf-Antitrust), John Cannon (New York-Executive Compensation & Employee Benefits), and Richard Kreindler (Frankfurt-International Arbitration); counsel Joachim Grittmann (Frankfurt-Real Estate/Environmental), Mathias Stöcker (Brussels/Düsseldorf-Antitrust), and Rainer Thum (Frankfurt-Executive Compensation & Employee Benefits); and associates Marc Sälzer (Frankfurt-Tax), Nate Tasso (Washington, DC-Tax), Clemens York (Brussels-Antitrust), Stefan Falge (Munich-International Arbitration), Mike Jokic (New York-Intellectual Property Transactions), Rich Fischetti (New York-Mergers & Acquisitions), Aselle Kurmanova, (New York-Mergers & Acquisitions), Nick Moulton (New York-Mergers & Acquisitions) and Zahida Virani (New York-Finance).
