Cases & Deals

The Deutsch Group completes sale to WENDEL Investissement

Clients Deutsch Group, The

Jones Day advised The Deutsch Group in its $1.04 billion acquisition by WENDEL Investissement ("Wendel"). The Deutsch Group, which has operations in the U.S., U.K., France, Italy, India, Japan, China, and Israel, is a leading global manufacturer and supplier of high performance electronic connector and wire termination devices to the aerospace and defense, heavy vehicle and autosport, oil exploration and telecommunications markets.

The transaction involved the purchase of the outstanding stock of the group's U.K., French, Japanese and Israeli entities, the purchase of the assets of the U.S. entity, the purchase of the land upon which the U.S. entity sits and the purchase of tax favored bonds.

Because Wendel is primarily a foreign owned entity, headquartered in France, and because The Deutsch Group's U.S. based entity manufactures products for the defense and aerospace industry, the parties decided to make a filing with the Committee on Foreign Investment in the United States ("CFIUS") under the Exon-Florio Amendment to the Defense Production Act. In the post-Dubai Ports World atmosphere of CFIUS filings, lawyers on both sides of the transaction began their coordinated efforts early and had to gauge carefully how best to approach the filing. The parties obtained all necessary regulatory clearances and were able to close the transaction within two months of signing.

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