Cases & Deals

ABB acquires Kuhlman Electric from The Carlyle Group

Client(s) ABB Ltd.

Jones Day advised ABB Ltd. in its acquisition of Kuhlman Electric Corporation from the Carlyle Group to expand its power products portfolio in the Americas. Kuhlman Electric manufactures a wide range of high-quality transformers for the industrial and electric utility sectors. The transaction marks the first milestone of ABB's announced acquisition strategy of focusing on finding bolt-on acquisitions to complement both its product range and geographical presence. The acquisition is representative of the type of transaction that many predicted would become prevalent following the busted-LBO deal paradigm of 2007 -- a strategic acquisition by a corporate buyer using existing cash availability. In addition to M&A representation, Jones Day provided antitrust (with clearance by the Department of Justice), employee benefits, environmental, and tax advice regarding this transaction.