Deal News

bpv Grigorescu Stefanica assisted “hidden champion” Molex USA, in consolidating its presence on the Romanian market

Molex Electronic Technologies, LLC, a leading global manufacturer of electronic solutions, acquired in a multi-jurisdictional transaction the Connected Vehicle Solutions (CVS) Division of Laird Limited, with offices in Bucharest.

bpv Grigorescu Stefanica acted as local counsel for Molex USA, one of the most successful global manufacturers of electronic components, in the acquisition of Laird Group’s Romanian subsidiary, active in the vehicle connectivity solutions field. The transaction was completed in December 2018.

Molex Electronic Technologies, LLC, with a presence in more than 40 countries, develops and manufactures electronic components such as connectors, cable assemblies, antennas, optical solutions. The company, founded in 1938, is headquartered in Lisle, Illinois, USA and has been often referred to as a “hidden champion” of the 21st century. It is part of the Koch Industries group, the second largest private group in America.

The Bucharest research-and-development center of Laird CVS Division, inaugurated in 2018, is focused on automotive telematics, smartphone integration, and antenna systems.

The acquisition of Laird CVS Division was part of Molex’s strategic development, aiming to expand its automotive portfolio in order to deliver improved solutions to the automotive manufacturers developing intelligent vehicles.

bpv Grigorescu Stefanica team, consisting of Catalin Grigorescu, Managing Partner and Dan Curiciuc, Senior Associate, offered legal advice and assistance on the structuring of the buyout referring to the Romanian CVS Division, and implemented a robust procedure needed in order to meet the completion deadline. The London office of the US law firm Jones Day acted as lead counsel for Molex and coordinated the legal assistance provided in several jurisdictions.

bpv Grigorescu Stefanica advises some of the most prominent names in the technology sector such as Google, Atos, Amazon, Facebook, Hootsuite, Garmin, SAP, Zitec, FintechOS, Fullscreen Digital, Autodesk, Mapbox, Riverbed Technology, Siemens, Hitachi.

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