The legal team of RSM Studio Tributario e Societario - Rome, headed by partner Marco Carlizzi, assisted the American G&W Electric Company in the acquisition of the going concern of Tozzi Electrical Equipment (TEE), a company part of the Tozzi Holding group of Ravenna. G&W is a leading US group active for over a century in power distribution technologies on power grids, providing a very wide range of solutions. Tozzi has been designing, producing and selling medium voltage electrical equipment, electrical panels and modular substations for over 50 years.
At the present date, the transferred going concern, specialized in the design, engineering and construction of industrial electrical systems, industrial instrumentation systems and low and medium voltage switchgears, hires 120 employees and has turnover of 20 million euros, 90% of which is realized abroad in more than 40 countries.
"A negotiation that turned out to be not easy, long and complex - says Marco Carlizzi - in which very challenging issues have been addressed, such as the buyer's joint liability for the seller's debts, the business crisis management and the right to use a unregistered trademark. We are very satisfied for having actively contributed to the successful outcome of the operation that involved the entry into Italy of a world-leading group with relevant consequences in terms of future development in our country, in particular in southern Italy."
With this transaction, the Illinois group, in fact, consolidates its presence on the European market, not yet subject to direct investments, with the aim of using TEE's personnel, know-how, products and production plant as the basis for the development of its activities in the Old Continent. TEE, on the other hand, will focus its activity on the core business of renewable energies, a sector that sees the Tozzi Green brand as one of the world's leading players in rural electrification and sustainable development.
Legal assistance to the buyer has been provided by RSM Studio Tributario e Societario - Rome with the legal team led by Marco Carlizzi and assisted by Emidio Tedeschini and Francesca Salvatore; partner Mauro Lonardo, assisted by Benedetta De Franceschi, has been in charge of tax due diligence; RSM Italy Corporate Finance has been the financial advisor, having managed the financial due diligence activities, with a team composed by Luca D’Ambrosio and Massimo Patrucco.
The seller has been assisted by Deloitte Legal, with a team composed by Massimo Zamorani, Andrea Martellacci, Sergey Orlov, Niccolò Giusti and Pietro Venerando, which managed both the negotiation phase as well as the labor aspects of the transaction, and by Pirola Corporate Finance, acting as financial advisor, with a team coordinated by Mario Morazzoni and Marco Gregorini.