BLOMSTEIN advised US investment firm Summit Partners on German foreign direct investment control aspects relating the sale of its shares in ELATEC to leading security and solutions provider Allegion plc. The transaction is valued at €330 million on a cash-free, debt-free basis, and is expected to close in the third quarter of 2025.
Summit Partners is a global alternative investment firm founded in 1984, managing over USD 32 billion in capital. It has invested in more than 700 companies in growth industries, such as technology, healthcare, and life sciences.
ELATEC with its headquarters in Germany and offices worldwide is a leading manufacturer of security and access technology specialising in RFID credentials and readers solutions. The acquisition enables Dublin-based Allegion, a leading global manufacturer of innovative security and access solutions, to expand its global electronics portfolio in attractive end markets and strengthen its strategic relationships with channel partners.
BLOMSTEN advised Summit Partners alongside Goodwin. The BLOMSTEIN team, led by Roland Stein, included Leonard von Rummel, Moritz Schuchert, and Margarida Reis Marques (all FDI). Many thanks to Summit Partners and the entire Goodwin team for the trust they have placed in us!
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