Shoosmiths advises DMB on acquisition of Raytheon Anschutz GmbH alongside Heuking Kühn Lüer Wojtek

Law firm Shoosmiths has worked alongside German-based firm Heuking Kühn Lüer Wojtek to advise client DMB Dr. Dieter Murmann Beteiligungsgesellschaft mbH (DMB), Kiel, on an agreement with Raytheon Technologies Corporation, Waltham / Massachusetts (USA) to acquire all shares in Kiel- based Raytheon Anschütz GmbH (in the future: Anschütz GmbH), its foreign subsidiaries and branches in Panama, Brazil, Singapore, and China, as well as Raytheon Deutschland GmbH’s UK business.

Raytheon Anschütz GmbH is a global leader in the design and manufacture of navigation and bridge systems for commercial shipping, megayachts, and naval vessels. Since 1905, Kiel-based Anschütz & Co. has been responsible for the invention of the gyro compass and numerous other revolutionary developments in maritime navigation. The parties agreed not to disclose the purchase price.

Since 1995, the company has been a subsidiary of U.S.-based Raytheon Technologies. Anschütz’s product portfolio includes gyro compasses, inertial navigation systems, autopilots, and manual rudder control systems for merchant shipping and the Navy, as well as radars, ECDIS, and integrated bridge systems for merchant shipping and the Navy, integrated mission systems for patrol boats or the Coast Guard, and navigation and automation solutions for submarines. Raytheon Anschütz GmbH employs about 700 people.

DMB is a diversified medium-sized industrial group that combines Dr. Dieter Murmann family’s entrepreneurial activities. The family-owned company, which is committed to its independence, currently consists of six independently operating groups of companies that are market leaders in their respective fields. Sauer Compressors, based in Kiel, is one of the key players.

Heuking Kühn Lüer Wojtek corporate partner Dr Stefan Duhnkrack and Shoosmiths corporate partner, Crispin Bridges Webb led advice from Germany and the UK respectively. Raytheon was advised by Shearman and Sterling for M&A and Cleary Gottlieb Steen & Hamilton for Antitrust and Investment.

Crispin Bridges Webb, corporate partner at Shoosmiths, said: “It’s been a pleasure to work alongside Heuking on this complex cross-border transaction, a firm we have worked alongside for many years through our World Services Group Network, to support on this strategic acquisition for DMB.

“Shoosmiths advises clients on what matters to them. We are advising on multiple cross-border complex deals and are proud to have worked with Heuking to support the client in achieving their ambitions.”

Dr Stefan Dunkrack, corporate partner at Heuking Kühn Lüer Wojtek, said: “The very close collaboration with Shoosmiths was used in particular to take over the extensive activities of the target in the UK and also to obtain regulatory clearance. The availability and expertise of Shoosmiths colleagues was excellent and extremely helpful.”

Shoosmiths’ is recognised as the most active law firm advising on corporate transactions across the UK (Experian, 2022).  Throughout last year the team advised on over 400 deals, with an aggregate deal value of £5bn, spanning private equity, mergers and acquisitions (M&A) and venture capital – many with a strong cross-border element.