On June 21, 2016 -- The KION Group AG, one of the two largest suppliers of forklift trucks, warehouse equipment and related services, announced that it has agreed to acquire Dematic, a best-in-class automation provider and specialist in supply chain optimization, from funds managed by AEA Investors and Ontario Teachers' Pension Plan, among others, for approximately $2.1 billion. Upon the closing of the acquisition, the KION Group will become one of the leading global providers of intelligent intralogistics solutions. Cravath, Swaine & Moore LLP is representing the KION Group in connection with this transaction.
The Cravath team is led by M&A partners Mark I. Greene and Aaron M. Gruber and includes partner George E. Zobitz on financing matters.
German counsel for the KION Group includes a Gleiss Lutz M&A team led by partners Jan Bauer and Adrian Bingel and a Hengeler Mueller financing team led by partner Johannes Tieves.
Fried Frank is representing the sellers in connection with this transaction.