The cross-border, stock-for-stock merger of Willkie client Westport Innovations and Fuel Systems Solutions will form a premier alternative fuel technology company.
Willkie represented Westport Innovations Inc. (Nasdaq: WPRT) (TSX: WPT) in its merger with Fuel Systems Solutions, Inc. (Nasdaq: FSYS) to create a premier alternative fuel vehicle and engine company. Combining 17 brands in the automotive and industrial space, the transaction was announced on September 1 and will result in a combined equity value of $351 million.
Vancouver-based Westport engineers advanced high-performance, low-emission fuel system and vehicle technologies utilizing gaseous fuels for transportation and industrial applications. New York City-based Fuel Systems Solutions is a leading designer, manufacturer and supplier of proven, cost-effective alternative fuel components and systems for use in transportation and industrial applications.
The combined company will conduct business in more than 70 countries and trade on both the TSX and Nasdaq under the “Westport Fuel Systems” name.
The deal was led by partners Gordon Caplan and Matthew Guercio with assistance from partners Jeffrey Korn, Michael Katz, Hillel Jacobson, Eugene Chang and Wesley Powell, of counsel William Thomas, and associates Matthew Haddad, Thomas Cantore, Stephanie Moran, Ryan Stott, Benjamin Shapiro, Dorna Mohaghegh, David Stoltzfus, Annise Maguire and Barbara Block.