Varnum Represents Fabco Holdings, Inc. in Sale to Meritor
Meritor, Inc. (NYSE: MTOR) has acquired the product portfolio and related technologies of Livonia-based Fabco Holdings, Inc. and its subsidiaries. Terms of the deal were not disclosed.
Fabco manufactures parts for medium, heavy and extra heavy vehicles for on- and off-highway, construction, defense, rail and other industries. In addition to its Michigan location, the company has facilities in Livermore, California and Austria. Meritor, based in Troy, Michigan, is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicles and industrial markets.
Varnum represented Fabco in all aspects of the deal, including negotiating the purchase agreement and other transaction documents, advising on employee benefit and union matters and financing-related items.
The Varnum team included Pete Roth, John Titley, Eric Post and Mallory Field (M&A/corporate); Mike Romaya and Brendan Best (finance); Dick Hooker (labor/union matters); and Charlie Gray (intellectual property).
"Varnum was a key part of our team on this deal providing comprehensive legal and strategic advice,” said Jerry Giudici, Fabco President and CEO. “They were available 24/7 throughout the process and I appreciated having them by my side during every step of the process."
“One feature of my experience with Varnum that I feel distinguishes the firm in working through this matter (is their) pragmatic approach,” Giudici added. “There were several stakeholders, each with competing viewpoints. Varnum took a very pragmatic approach to satisfying stakeholders in the deal while representing the company’s interests.”