August 31, 2004
Firm represents Hong Kong's Techtronic Industries Co. Ltd. (TTI) in its announced purchase of the Milwaukee Electric Tool® and AEG® power tool businesses from Sweden’s Atlas Copco AB for $626.6 million in cash.
On August 30, Willkie's New York and Frankfurt offices represented Hong Kong's Techtronic Industries Co. Ltd. (TTI) in its announced purchase of the Milwaukee Electric Tool® and AEG® power tool businesses from Sweden’s Atlas Copco AB for $626.6 million in cash. The transaction is expected to close prior to the end of 2004. Founded in 1985, TTI is a leading and fast-growing supplier of home improvement products, employing approximately 16,300 people worldwide. TTI's global brand portfolio includes Ryobi® power tools, Homelite® and Ryobi® outdoor power equipment and Royal®, Dirt Devil®, Regina® and VAX® floor care appliances. Corporate partner Bruce Kraus, special counsel Catherine Harrington and associates Kristina Beirne, Dominique Gallacher and Danielle Garber led the US corporate team, and special European counsel Bernhard von Braunschweig, Christoph Crisolli and Lars Lensdorf, and associates Volker Schumacher and Dirk Peter handled the European aspects of the transaction. The deal was reported in the August 31 edition of The Daily Deal and the September 9 New York Law Journal.
