Fieldfisher advises US company Solero Technologies LLC on the acquisition of Kendrion's automotive business. | Fieldfisher
Skip to main content
Press Release

Fieldfisher advises US company Solero Technologies LLC on the acquisition of Kendrion's automotive business.




Solero Technologies LLC, the world's leading supplier of gear magnets and motor magnets, has reached an agreement to acquire the automotive business of Kendrion. The American company received legal advice on this transaction from a Fieldfisher team led by Corporate Partner Dr Andreas Driver.

With this transaction, the German company Kendrion, a technological pioneer and innovator that develops, manufactures and supplies actuators worldwide, is initiating a strategic repositioning. With the proceeds of the sale to Solero Technologies, Kendrion will be able to focus on reinvesting in its industrial business and the associated growth opportunities in Europe, the US and China.

Solero Technologies, a global leader in transmission solenoids, engine solenoids, stop-start accumulators and hydraulic control modules that has recently developed and commercialised active suspension and electrification components, will execute this transaction with the support of Atar Capital LLC. Atar Capital is a global private investment firm with over 80 years of buyout, investment and asset management experience.

With Solero Technologies and the support of Atar Capital, Kendrion's automotive business will become part of a company focussed on this sector in Europe and the USA. The sale does not include the automotive activities in the electronics and China sectors. These will be integrated internally into the Industrial Actuators and Controls (IAC) division.

A Fieldfisher team led by lead Partner Dr Andreas Driver, supported by the law firms Stradling from the USA and Kinstellar from the Czech Republic, provided Solero Technologies with comprehensive legal advice on various legal issues ranging from corporate law and employment law to data protection during the complex acquisition.

Solero Technologies LLC is a leading company based in Michigan and Mississippi in the United States, specialising in the development and supply of quality products such as solenoids and control products. With over 50 years of experience and a strong presence in the automotive industry, Solero works to develop innovative solutions that are aligned with the United Nations' sustainability goals, particularly with regard to greener and more efficient vehicles.

Dr Andreas Driver, LL.M. (Georgetown University) (Partner, Lead), Roya Bayatloo, LL.M. (London) (Counsel), Jonas Klima, MBA (Senior Associate, all Corporate), Dr Fabian Reissinger (Partner), Dr Marcus Iske (Partner), Marco Hermann (Senior Associate, all Employment, Pension & Immigration), Dr Susanne Weckbach (Partner), Silke Goschler (Partner), Dr Patrick Viktor Born (Associate, all Commercial), Katharina A. Weimer LL.M. (UNSW) (Partner), Melanie Ludolph (Senior Associate, both Technology & Data), Matthias Berger, LL.M. (San Francisco) (Partner), Benjamin Grzimek (Partner), Aylin Cremers, MLE. (Associate, all IP), Maureen Pitzen (Counsel, Real Estate)

The law firm Stradling also provided support from the USA with Thomas Waldmann (Partner, Private Equity) and Doo Soo Kim (Associate, Corporate). Jan Juroska (Partner, Corporate) and his team provided support for the Czech Republic and Romania.