FRANKFURT—Covington & Burling LLP advised Stabilus SE on the $680 million acquisition of U.S. automation specialist DESTACO. The acquisition is expected to close in the first half of 2024, subject to customary closing conditions.
Stabilus SE, headquartered in Koblenz, Germany, is one of the world's leading providers of motion control solutions for a wide range of industries.
DESTACO, headquartered in Auburn Hills, Michigan, is a Dover company and a global leader in the design and manufacture of automation and remote handling components and solutions. The company's products for equipping production areas and lines serve a variety of industries including consumer goods, packaging, aerospace, automotive, life sciences and nuclear sectors. The company's product portfolio thus ideally complements Stabilus' offering in the industrial sector. In 2022, DESTACO generated sales of $213 million with around 650 employees at 13 locations in the United States, Europe, India, China and Thailand.
The Covington team was led by Henning Bloss, Allison Schiffman and Peter Laveran and assisted by Jim Yan, Suzie Park, Ning Lu, Björn Schneider and Jörn Hirschmann (Corporate/M&A); Heather Finstuen (CFIUS); Ansgar Simon (U.S. Tax); Ryan Quillian (U.S. Antitrust); David Wildman and Moritz Hüsch (IP/IT); Elizabeth Canter (Privacy); Megan Woodford, Jenna Wallace and Nadine Kramer (Employment/Benefits); Heather Haberl (Real Estate); Justin Schenck (Trade Controls); Gregory Discher (Patents); Mona Patel (Anti-Corruption); Thomas Brugato, (Environmental); Marie Lavalleye (Trademarks); Horst Henschen and Martin Juhasz (EU Competition/FDI).
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