Ashurst advises an affiliate of Sun Capital Partners on the sale of CK for 540Million
26 April 2022
26 April 2022
Ashurst has advised an affiliate of Sun Capital Partners on the sale of C&K Switches Group, a manufacturer of electromechanical switches, to Littelfuse, Inc. for an enterprise value of $540 million. The transaction remains subject to customary regulatory approvals.
Sun Capital Partners acquired C&K in September 2017 and has been instrumental in accelerating its growth and improving its market positioning.
In 5 years under Sun Capital Partners' ownership, C&K has considerably developed its potential, notably via the completion of two strategic acquisitions (Vuillermoz in 2018 and EIS Electronics in 2021) and through its product portfolio, which offers more than 8.5 million switch combinations for industry, transportation or aerospace. Based in the United States (Massachusetts), the company also has a strong presence in France, Germany, India, Vietnam and China.
Given the size of the transaction, a large part of Ashurst's network was called upon to assist with the deal, which was conducted from Paris.
Paris Ashurst team was led by Corporate partner Noam Ankri, supported by partners Pierre Roux (Finance), Olivier Dorgans (Compliance), Jacques Dabreteau (Public Law - Foreign Investments), Muriel Pariente (Employment) and Philippe None (Real Estate). The team was assisted by Counsel David Noblinski (Real Estate), senior associates Sylvain Kabeya (Corporate), Elsa Decourt (Corporate) and Kévin Boyero (Finance) as well as associates Camilla Booth-Clibborn (Corporate), Alexandra Ber (Corporate), Camille Mayet (Compliance), Tristan Choppin de Janvry (Public Law), Keren Aboukrat (Employment), Marianne Sajus (Real Estate) and Sophie Plaquevent (Real Estate).
In Germany, the team consisted of partners Jan Krekeler (Corporate), Nicolas Deuerling (Real Estate), Lukas Müller (Employment), counsels Holger Mlynek (Major Projects), Nikolos Tsagareli (Finance) and associates Jan Ischreyt (Corporate) and Carolin Siebeck (Real Estate).
In Luxembourg, the team gathered partners Isabelle Lentz (Corporate), Paul Witte (Corporate), Fabien Debroise (Finance) and associates Laurence Latuillerie (Corporate) and Sacha Nesviginsky (Corporate).