On 23 January 2012 Bosch purchased the US company SPX’s Service Solutions division, including all related subsidiaries and shareholdings, for a purchase price of USD 1.15 billion (approx. EUR 883 million). It is envisaged that the takeover, which has still to be cleared by the competent merger control authorities, will be concluded by the middle of 2012.
SPX Service Solutions develops, manufactures and sells diagnostic and service tools, workshop equipment and software for the global automobile market. For 2011 the division, based in Warren, Michigan, USA, expects turnover of around USD 920 million (around EUR 660 million). SPX Service Solutions has a staff of around 2,700 working in 17 countries and maintains production facilities in USA, Germany, France and China. SPX Service Solutions is thus the third-largest division of SPX Corporation.
This acquisition will allow Bosch to strongly expand its market presence in the diagnostics business, above all in North America. In addition, Bosch will strengthen its position in Asia/Pacific and Europe, in particular in the diagnostics and repair business with vehicle manufacturers.
At Bosch’s legal department the matter was handled principally by Judith Adler and Robert Miklautsch.
Bosch was advised by Dorsey & Whitney and Gleiss Lutz as well as further law firms in the Gleiss Lutz network. The Gleiss Lutz team included: Dr. Cornelia Topf (partner, corporate/M&A, Frankfurt), Dr. Jochen Tyrolt (partner, corporate/M&A, Stuttgart, both lead), Dr. Matthias Karl (partner, antitrust, Stuttgart), Dr. Steffen Krieger (partner, employment, Düsseldorf), Dr. Herwig Lux (IP/IT, Stuttgart), Dr. Martin Viciano Gofferje (corporate/M&A, Stuttgart) and Dr. Maximilian von Mangoldt (corporate/M&A, Frankfurt).
Forward
