December 2024 – The Frankfurt-based antitrust boutique COMMEO advises Zeppelin, the German con-struction equipment expert, on the acquisition of the sales and service business for Cat products in Nor-way and the Netherlands from the Dutch company Pon Holdings.
The transaction, which is subject to regulatory approvals and the usual consultation conditions, comprises around 20 legal entities in Norway and the Netherlands with their portfolio of new and used machines, drive and energy systems, servicing and spare parts as well as solutions for equipment rental and the associated services. The acquisition means that the Zeppelin Group is growing by approximately 2,000 employees and around 1.1 billion euros in sales, making it one of the largest sales and service organiza-tions worldwide for Cat products and a company with an even greater international footprint.
US company Caterpillar Inc. is the leading manufacturer of construction and mining equipment, diesel and natural gas engines, gas turbines for industrial use and diesel-electric locomotives. Caterpillar sells its products in different countries and regions via independent Cat dealers who are in charge of sales and service for Cat products. The Zeppelin Group has steadily expanded the service territories which it covers as well as its product and service portfolio over the years and is now active in numerous European and Eurasian countries.
COMMEO supports Zeppelin for the transaction comprehensively on antitrust issues in connection with notification requirements under merger control, foreign direct investment control (FDI), the EU Foreign Subsidies Regulation (FSR), and on antitrust clauses in the SPA. The team led by partner Dr. Johanna Kübler is responsible for the submission of the merger control and FSR notification to the EU Commission and coordinates further merger and FDI notifications in numerous jurisdictions worldwide.
COMMEO has been advising its long-standing client Zeppelin on competition law for many years, in particular with regard to merger control notifications. COMMEO won the current matter in a pitch against other law firms.
COMMEO’s partners Dr. Johanna Kübler (lead counsel) and Christoph Weinert and associates Franziska Lange-Schlüter and Constanze Ely are working for Zeppelin as the advisory team.
On Zeppelin’s side, the legal part of the transaction is led by Ingo Sommer (Group General Counsel/ Global Head of Legal) and Simon Maier (Legal Counsel). The law firm Linklaters is acting as the M&A advisor.
On the Pon Holdings side, Lisanne Bakker (Director M&A Legal) leads the transaction for legal aspects with advice from the law firm DeBrauw Blackstone Westbroek, the Netherlands.