Stevens & Bolton has advised ITP Aero, a world leading company in aeronautical engines and components, on its significant acquisition of Rolls-Royce Plc’s manufacturing operations located at its Hucknall site near Nottingham together with certain related engineering and procurement activities.
ITP Aero, which operates as a corporate entity within the Rolls-Royce Group, is a leading company in the aviation industry, providing high technology products and services to the aeronautical and industrial engines market throughout all phases of the product life cycle. Integrating the Hucknall site into ITP Aero’s global industrial footprint has added 700 new employees to its global workforce, totalling 4,300 worldwide. The acquisition will enhance its position as a major global aerospace company, bringing potential new business opportunities through the new products manufactured in Hucknall including fabrications, combustors and fan outlet guide vanes (OGVs).
Alberto Garelly, General Counsel of ITP Aero, commented “We appreciate the work and high professional and personal quality of the people of the Stevens & Bolton team who have assisted us in this process. For a Spanish company it is always a special challenge to negotiate and close a complex agreement under English law and we have found in the team the perfect complement to do it in an efficient and clear way, dedicated in this case not only to provide us their valuable know-how but also to explain at every step to their client the particularities of a legal framework and contractual practice so different from the one we are used to. In Spanish language, “buen trabajo”!!”.
Nick Atkins, Corporate Partner at Stevens & Bolton said: “We are delighted to have supported ITP Aero on this major milestone, and we are excited to see the business continue to grow. It has been a pleasure working with ITP Aero’s in-house team, and we look forward to further supporting the group in its next phase of development”.
The Stevens & Bolton team was led by Nick Atkins and Managing Associate James Floyd, supported by Kerry Garcia (employment), Rebecca Berry (employment), Gabrielle Holgate (pensions), Sarah Kirwan (real estate), Melanie Shone (corporate tax) and Tom Lingard (intellectual property).
Nick Atkins