Luther advises Aventics on the sale of its inverted tooth chain business to British Renold group

Luther advised pneumatics specialist Aventics in connection with the sale of its inverted tooth chain business to the British group Renold plc., considered a global market leader in the manufacture of industrial chains and chain drives. Renold will take over a plant in Gronau (Leine/Lower Saxony) and all staff in the inverted tooth chain business at the beginning of 2016. In the transaction, Aventics has turned to its trusted advisers: for the past year and a half, the company has relied on Luther for legal services in a variety of areas.

Aventics' inverted tooth chain business, founded in 1908, is considered a technological leader in its field. Its sale to industrial chains specialist Renold should enable the division to develop new markets. For Aventics, the sale is a step in its plan to focus more on its own core business in the future.

About Aventics

Aventics is a globally active manufacturer of pneumatic components and systems. Moreover, the company is also a specialist supplier of drive and control solutions for the marine industry and commercial vehicles, as well as of inverted tooth chains for use in production processes. The company was created in 2013 as a result of the spin-off of the pneumatics unit from the Bosch Rexroth group. It was sold to the equity investment firm Triton in December 2013, and has been operating as a stand-alone entity since then. The company has a staff of approximately 2,100 people worldwide.

About the Renold group

Renold plc (RNO:LSE) is listed on the London Stock Exchange and a leading global manufacturer of chains and chain drives.  The industrial chain specialist has production and distribution facilities in 23 countries, including a plant in Einbeck, around 40 kilometres from Gronau (Leine). With 2,200 employees, the company is of a similar size as Aventics.

For Aventics

Luther, Mergers & Acquisitions: Dr Andreas Blunk, MLE (Lead, Of Counsel), Prof Dr Hans-Georg Hahn (Partner), Dennis Bertog (all Hanover)

Luther, Employment Law: Dr Gunnar Straube (Partner, Hanover)

Luther, IP and copyright law: Dr Kay Oelschlägel (Partner), Dr André Schmidt (both Hamburg)

Aventics HR, Inhouse: Yvonne Comolli (Laatzen)

Consus Partner, M & A Advisors: Jörg Mayer, Stephan Wahl, Patrick Müller (Frankfurt)

For the Renold group

Heisse Kursawe Eversheds: Holger Holle LL.M. (Lead, Counsel, Munich), Daniel Hall (Client Partner, Manchester)

Download this press release as PDF.

Please find all of our press releases here.