Pinsent Masons advises Clarios on the acquisition of Paragon's energy business
05 Oct 2023 | 10:54 am |
Multinational law firm Pinsent Masons has advised the leading automotive battery manufacturer Clarios, a portfolio company of Brookfield Corporation, on the acquisition of the energy business of Paragon GmbH & Co. KGaA.
Paragon specialises in the manufacture of batteries and battery management systems for the automotive industry. The acquisition significantly expands Clarios' engineering team, which is involved in the development of new low-voltage architectures.
Pinsent Masons has been assisting Clarios for a number of years, with the latest transaction marking Clarios' first strategic acquisition in Europe since its 2019 demerger from Johnson Controls and acquisition by Brookfield.
The team at Pinsent Masons was led by corporate partner Ronald Meißner supported by Mark Leonard and Holger Kessen (Finance) and Michael Reich (Competition).
Clarios is a leading global manufacturer of low-voltage batteries for the automotive industry with annual sales of around USD 9 billion. Based in Glendale, Wisconsin, Clarios is a portfolio company of Brookfield Business Partners, a subsidiary of the Canadian investment company Brookfield Corporation.
Paragon, founded in 1988, is a listed developer and producer of solutions in the field of automotive electronics, body kinematics and electromobility based in Delbrück, Germany. With around 880 employees, the company most recently generated sales of around 160 million euros.
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