Latham & Watkins and Kirkland & Ellis have advised on the C$867 million ($659 million) purchase of the Stackpole International Group of Companies, an Ontario-headquartered producer of automotive engine and transmission pumps, by Johnson Electric Holdings Limited, a Hong Kong-listed electric motor maker.
Johnson Electric said it was buying Stackpole from S.I. Investors, L.P. and would finance the purchase with cash reserves and credit facilities.
Stackpole’s pump technology and powder metal expertise will enable Johnson Electric to provide integrated motorised pump solutions to customers in the automotive industry, it said.
Latham & Watkins advised Johnson Electric with a Chicago-based team led by partner Ted Keim, with assistance from fellow U.S.-based partners Julie Marion, Karen Silverman, Jason Cruise, Peter Rosen, Robin Struve, Jeffrey Tochner and Karl Karg. Blake, Cassels & Graydon also advised the Hong Kong-listed company on the deal.
Canadian firm Stikeman Elliott and a Kirkland & Ellis team led by Washington, D.C. partners Alexander Fine and George Stamas represented Stackpole and the selling shareholders.
The cross-border, all-cash transaction is expected to close in the last quarter of 2015, depending on regulatory approvals and other customary closing conditions.
