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Eversheds Sutherland advises Carlyle’s portfolio company Praesidiad Group on its acquisition of Drehtainer

  • United Kingdom
  • Global

    28-11-2018

    Eversheds Sutherland has advised Praesidiad Group, the global provider of security systems and solutions, on its acquisition of Drehtainer GmbH.

    Praesidiad and Hesco are portfolio companies of The Carlyle Group, which is one of the world's largest and most successful private equity investment firms.

    Praesidiad is a world market leader of force protection solutions, integrated perimeter security systems and industrial mesh production and fencing products. Hesco is a world leader and innovator in defence, perimeter protection and security systems.

    The cross-border Eversheds Sutherland team was led by Partners Alison Starr (corporate, UK) and Christian Mense (corporate, Munich), supported by Sven Schweneke (corporate, Munich), Martin Bechtold (competition, Munich), Dr Stefan Schramm (banking, Hamburg) James Lindop (Export Control, UK) and Kate Newman (competition, UK).

    Alison Starr, commented:

    “We are delighted to advise Praesidiad and Hesco on this strategically important acquisition and to provide The Carlyle Group, Praesidiad and Hesco with the breadth of support from the Munich-based team led by Christian and Martin who both worked tirelessly over a 6 month period to achieve an excellent result for the client.”

    Christian Mense, commented:

    “It has been a great pleasure to assist the teams at Praesidiad and Hesco on this very interesting and demanding project. This is one of the very rare M&A deals in the defence sector per year in Germany and we are proud that we were chosen to assist the client on this. This includes advising on the German foreign investment control clearance of the deal, due to the products of the Target which are specified for military/defence purposes.”

    Michael Hughes, Hesco CEO, said:

    “Under Praesidiad's leadership, Hesco has accelerated expansion into complementary new key markets. Not only does this acquisition further expand our portfolio but it also enables the crucial collaboration between Hesco and Drehtainer's respective engineering capabilities. Together we will share sector knowledge and innovate new ground-breaking technologies for military and security protection.”

    Following the acquisition, Drehtainer - which designs, develops and manufactures specialist containers for various military and civil applications - will be driven and operated under the Group’s Hesco business. The transaction is subject to regulatory approval and expected to close in spring 2019.

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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