PITTSBURGH (April 26, 2016) – Reed Smith LLP recently represented SKF, the leading worldwide manufacturer and supplier of ball and roller bearings, linear motion products, precision bearings, spindles and seals, in an agreement, subject to regulatory approvals, to divest its Kaydon velocity control business to Stabilus, a global manufacturer of electromechanical drives, as well as gas springs and hydraulic dampers for the automotive and industrial markets. The total value of the transaction is $339 million, on a cash- and debt-free basis. It is expected to close during the summer of 2016.
The cross-office Reed Smith team consisted of Pittsburgh corporate partners Courtney Murray and Kristin Wells, assisted by Munich partner Constantin Conrads; anti-trust partners Debra Dermody and Michelle Mantine; Pittsburgh associates Nikki Bechtold, Bennett Reed, and Anya Lernatovych; and Munich associate Rita Novak.
About Reed Smith
Reed Smith is a global relationship law firm with more than 1,800 lawyers in 26 offices throughout the United States, Europe, Asia and the Middle East. Founded in 1877, the firm represents leading international businesses, from Fortune 100 corporations to mid-market and emerging enterprises. Its lawyers provide litigation and other dispute resolution services in multi-jurisdictional and other high-stakes matters; deliver regulatory counsel; and execute the full range of strategic domestic and cross-border transactions. Reed Smith is a preeminent advisor to industries including financial services, life sciences, health care, advertising, entertainment and media, shipping and transport, energy and natural resources, real estate, manufacturing and technology, and education. For more information, visit reedsmith.com.
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