Binder Grösswang advised Greenbriar Equity Group on the sale of Frauscher Sensor Technology Group
In close cooperation with Kirkland & Ellis LLP (New York), Binder Grösswang advised Greenbriar Equity Group L.P. on the sale of Frauscher Sensor Technology Group GmbH to the French strategist Delachaux S.A. Binder Grösswang had already advised the Greenbriar Equity Group on its acquisition of the Frauscher Group in 2016.
The signing of the transaction took place on Thursday, 20 December 2018. Following the successful closing on 28 February 2019, the Delachaux Group how holds a majority of the shares in Frauscher Sensor Technology Group GmbH. The remaining shares are held by the Frauscher management team.
The Delachaux Group, which was founded in 1902, operates worldwide in the business areas of rail, conductivity and metal, and generated revenues of EUR €841 million in 2017.
The Frauscher Group provides railway operators and system integrators around the globe with solutions that simplify access to information needed for the operation, monitoring and protection of their infrastructures. The group is a recognized technology leader in innovative wheel detection, axle counting, and tracking. Established in Austria in 1987, the Frauscher Group has a total of 430 employees in 13 countries and generated turnover of around EUR 70 million in 2018.
Greenbriar Equity Group L.P. is a New York-based private equity fund that specializes in investments in the global transport industry. Since its foundation in 1999, Greenbriar has amassed USD 3.5 billion in committed capital across four funds.
Also involved in the transaction were: Emanuel Welten (partner), Robert Wippel (counsel) and Maximilian Albert Müller (associate) as finance specialists; Alexander Kramer (counsel) for real estate issues; Angelika Pallwein-Prettner (partner) and Sabine Apfl-Trompeter (senior associate) for labour law matters; Hellmut Buchroithner (counsel) and Valerio Hofmann (associate) for IP/IT; Johannes Barbist (partner) and Anian Gruber (associate) for regulatory issues; and Christine Dietz (partner) and Miriam Imarhiagbe (associate) for competition law matters.
The team of Kirkland & Ellis (International Lead Counsel) was comprised of the PE/M&A specialists Shawn O'Hargan (partner), Adi Herman (partner), Laura Umbrecht (associate), Carl Witkin (associate) and Marc Weinstein (associate).