About

With 2016 sales of €16.5bn, Valeo is a multinational supplier of automotive products that is a constituent of the CAC 40 Index. The company is split into four divisions that service the automotive and aftercare markets: Powertrain Systems; Thermal Systems; Comfort and Driving Assistance Systems; and Visibility Systems. Supporting the Valeo’s diversification and growth strategy is a legal team of exceptional quality, led by Éric-Antoine Fredette as group general counsel and company secretary. Fredette and team have been part of an acquisitive 2016, overseeing transactions in a number of sectors and countries. In April 2016, Valeo singed a 50-50 joint venture agreement with Siemens, with the plan to become a market leader in high-voltage components and systems for all types of electric vehicles. This arrangement could be mutually beneficial for the companies, allowing them to develop into a growing market. As well continuing to grow in its traditional business lines, Valeo has also been investing in new technologies in the automobile industry. The legal team has managed a number of transactions that aim to increase Valeo’s footprint in the automated vehicle market, for example: the €16m acquisition of a 50% stake in CloudMade, a developer of big data-driven automotive solutions and machine learning and the 100% acquisition of Gestigon, a German start-up specialising in 3D image processing software for in-vehicle spaces. Taking the step into technology such as artificial intelligence, automated driving and machine learning poses interesting questions for the legal team – it is much harder to predict risk and adhere to regulation when much of the technology is untested. Perhaps the largest deal completed by Fredette and the team in 2016 was the €819.3m acquisition of FTE Automotive from Bain Capital Private Equity. This deal, which is still undergoing some competition clearance processes, will expand Valeo’s market reach in Germany, the Czech Republic, Slovakia, Mexico and China, as well as improving the offering of its aftercare business. As M&A counsel for Valeo, Jean-Christophe Castera drew particular praise throughout the nomination process.