International law firm Bird & Bird has advised Swiss company Bystronic AG in signing an agreement to acquire the “Tools for Materials Processing” business unit from US-based Coherent Inc. Bystronic is represented in more than 30 countries through subsidiaries and an extensive network of dealers and representatives and is a leader in sheet metal processing technology and innovation. With Bystronic Software, the company is driving the digital transformation of the industry. Coherent operates in more than 20 countries and is a global leader in photonics.
With approximately 400 employees, the “Tools for Materials Processing” business unit generates revenue of around US$100 million. Its headquarters are located in southern Germany. The acquisition enables Bystronic to expand into further growth markets, such as medical devices, semiconductors and general manufacturing. In addition, Bystronic’s portfolio will be extended to include new laser applications, such as micromaterial processing, marking, labelling and drilling. Alongside procurement synergies, the takeover also brings expertise in research and development.
With the acquisition, Bystronic will also obtain the rights to the well-known laser technology brand Rofin, which will continue to operate within the newly established business unit “Bystronic Rofin.” The transaction is subject to further approvals and is expected to be completed in the coming months. The parties have agreed not to disclose the purchase price or any further details.
Bystronic AG has been advised by the following Bird & Bird lawyers: Partner Stefan Münch, Counsel Michael Gaßner (lead) and associate Yannick Stahl (all Corporate, Munich), partner Thomas Hey (Employment, Düsseldorf), partner Dr. Ralph Panzer, Counsel Dr. Maximilian Koch and associate Vincent Kirsch (all Employment, Munich), partner Alison Dixon (Employment, London), partner Cristiano Pambianchi (Employment, Mailand), partner Dr. Henriette Picot, Counsel Michaela von Voß and associate Thomas Magosch (all Commercial, Munich), partner Dr. Stephan Waldheim (Competition, Düsseldorf), partner Dr. Rolf Schmich (Tax, Frankfurt), Counsel Soeren Alborn and Jonathan Hechler (both IP, Munich), Counsel Jürgen Schlinkmann and associate Merwan Klink (both Real Estate, Munich).
The advisory work was carried out in collaboration with the US law firm Venable LLP (Partner W. Bryan Rakes and Counsel Audrey Distler).
