Baker Mckenzie Advised Trane Technologies On Strategic Investment In Kieback&Peter

Baker McKenzie Advised Trane Technologies on Strategic Investment in Kieback&Peter

Baker McKenzie advised global air conditioning specialist, Trane Technologies, a global publicly traded company (NYSE: TT) for innovative air conditioning technology, on a strategic investment in Kieback &Peter Group (“K&P”), a European market leader in building automation software and solutions based in Berlin.

Trane Technologies will acquire a minority stake of 49% in K&P and has the option to acquire full ownership after three years. The agreement also includes a commercialization agreement. This enables both companies to work together in new ways and to market their complementary solutions to each other’s customers. The transaction is expected to be completed in the coming months. The transaction is subject to regulatory approvals.

Dr. Florian Kästle, one of the lead partners in the transaction, commented,

"Thanks to our cross-practice group and cross-country team, we were once again able to support our long-standing client Trane Technologies in a significant transaction for them. The investment in K&P gives Trane Technologies access to innovative building automation software and the opportunity to realize synergies in the development of sustainable climate solutions, and to significantly expand its sales network. We are thus contributing to strengthening our client’s market position and implementing its growth strategy."

Trane Technologies, based in Swords, County Dublin, Ireland, provides efficient and sustainable climate solutions for buildings, homes and the transportation sector through its strategic Trane® and Thermo King® brands, and its portfolio of green products and services. Since 2019, Trane Technologies has reduced its customers’ carbon dioxide emissions by 237 million tons.

K&P combines intelligent building technology, data-based services and multiple synergy effects to create sustainable solutions. Founded in Berlin in 1927, the long-established company with around 1,500 employees and 50 locations worldwide secures and expands the value of buildings and business models.

The Baker McKenzie team led by  Dr. Florian Kästle (Partner) Corporate/M&A, Dr. Peter Wand (Partner) Real Estate, Dr. Niklas Wielandt (Partner) Commercial & Trade, Katharina Spenner (Partner), Joachim Fröhlich (Counsel), Dr. Maximilian Voll (Counsel) Employment, Dr. Felix Diehl (Partner), Dr. Sebastian F. Pfrang (Senior Associate), Jan Kammler (Associate), Annika Kißener (Associate) IP sector, Dr. Markus Hecht (Counsel) IP sector, Dr. Michaela Nebel (Partner) Public Law, Dr. Alexander Ehrle (Senior Associate).

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