ARQIS has advised the selling shareholders on the sale of INTORQ GmbH & Co. KG. (“INTORQ”), a manufacturer of brakes and clutches for electric drives and leader in spring-applied brakes in Europe, to Kendrion N.V. (“Kendrion”). The completion of the transaction is subject to customary conditions and is expected in the first quarter of 2020.
The combination with INTORQ creates a leading industrial brake company with a comprehensive offering in an expanded number of growth markets in Europe, China, the U.S. and India. Specific shared end-markets include electric motors, wind power and elevators. Complimentary markets include geared motors, forklifts, cranes and hoists.
INTORQ manufactures spring-operated brakes and electromagnetic brakes and clutches for electrical drive technologies. INTORQ products are used in a diverse range of applications, including geared and servomotors, electric forklifts, wind power, cranes, hoists, elevators and escalators. INTORQ has production sites in Aerzen (Germany), Shanghai (China), Atlanta (the U.S.) and Pune (India) and produces approximately 1 million brakes and clutches per year. The company has annual revenues of around EUR 57 million and nearly 300 employees.
Kendrion develops, manufactures and markets high quality electromagnetic systems and components for industrial and automotive applications. As a technology pioneer, the company has been inventing, developing and producing complex components and tailor-made systems as well as market-specific solutions for more than a century. Rooted in Germany, headquartered in the Netherlands and listed on the Amsterdam stock exchange, Kendrion’s expertise extends across Europe, to the Americas and Asia.
Advisors to shareholders of INTORQ
ARQIS Rechtsanwälte (Duesseldorf/Munich): Andreas Dietl (Lead), Dr. Christof Schneider, Dr. Gerhard Schwartz, Nima Hanifi-Atashgah (all Corporate/M&A), Mauritz von Einem (Tax), Dr. Mirjam Boche (W&I Insurance)