bpv GRIGORESCU STEFANICA advised TATA TECHNOLOGIES on the acquisition of CAMBRIC CORPORATION4 June 2013
Law firm bpv GRIGORESCU STEFANICA (bpvGS) has acted as local counsel for Romania on the acquisition of US and Romania-based CAMBRIC CORPORATION by TATA TECHNOLOGIES. The scope of work included due diligence on Cambric’s three development centers in Romania and advise on various transactional aspects. The project was part of an international transaction involving several jurisdictions, including US, Germany, Czech Republic and Singapore.
bpvGS was instructed by the global law firm Jones Day, who acted as international counsel to TATA Technologies. Cambric Corporation was advised by US firm Holland Hart. bpvGS team was led by partner Anca Albulescu and included managing associates Cristina Mihai and Cristina Randjak. Czech aspects of the transaction were covered by bpv BRAUN PARTNERS, who is the Czech and Slovak member of the alliance bpv LEGAL.
The transaction, which completed on May 1, 2013, saw TATA Technologies acquiring US-headquartered global engineering services company Cambric Corporation which has a significant footprint in Eastern Europe, with three development centers in Romania (Brasov, Craiova and Iasi). Its customers include some of the world’s marquee heavy machinery, agricultural, off-highway and automotive companies.
With over 6,000 engineers, representing 17 nationalities, TATA Technologies is part of TATA Group – India’s largest and most diversified business conglomerate – and focuses on the manufacturing industry – covering every aspect of the value chain from conceptualization, manufacturing and aftermarket support. Tata Technologies serves clients in 25 countries from six, Detroit (USA), Coventry (UK), Pune and Bangalore (India), Stuttgart (Germany), and Bangkok (Thailand).
The partnership will strengthen Tata Technologies’ global footprint and domain capabilities to provide high-end engineering services to a diverse set of existing and new clients, especially in Europe. It will also provide Cambric access to the Asia Pacific region.