Publications & News

WilmerHale Advises Linde on the Sale of the Component Business of BOC Edwards to CCMP Capital

March 12, 2007

On March 12, 2007, technology company The Linde Group sold the component business of its subsidiary BOC Edwards to international private equity firm CCMP Capital for approximately EUR 685 million (GBP 460 million). If the business develops successfully and is accompanied by an exit of CCMP Capital (e.g. through an IPO or a sale to a strategic investor), Linde further stands to receive an additional EUR 65 million (GBP 45 million). The sale remains subject to clearance by the competent antitrust authorities.

Following the acquisition of The BOC Group plc and the resulting focus on its international industrial gases and engineering businesses, Linde had decided to sell the component business of BOC Edwards (vacuum pumps and components for the semi-conductor industry). In the 2006 financial year, the component business of BOC Edwards achieved a turnover of approximately EUR 860 million, and employs over 4,000 staff.

WilmerHale regularly advises Linde on matters regarding competition law and merger control. In previous months, WilmerHale has advised and represented Linde on its acquisition of The BOC Group plc and Spectra Gases Inc., as well as the disposal of BOC Gazy Sp. z o.o., Linde Gas UK and KION GmbH. In addition, WilmerHale assisted Linde in the realignment of its various joint ventures with Air Liquide in Asia.

In the disposal of the component business of BOC Edwards, Linde was advised on merger control issues by Berlin partner Ulrich Quack as well as the associates Dr. Alexander Jüngling and Dr. Oliver Fleischmann from the Berlin office.