King & Spalding advised AeroVironment, Inc. (“AV”) on the due diligence and the purchase agreement in connection with the acquisition of all shares of Telerob Gesellschaft für Fernhantierungstechnik mbH and its U.S. sales subsidiary for a combination of €37.5 million (US$45.5 m) in cash, and shareholder debt refinancing of €7.8 million (US$9), due at closing.
AeroVironment (NASDAQ: AVAV), based in Southern California, provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence for defense, government and commercial customer missions. It is a global leader in unmanned aircraft systems and tactical missile systems.
Telerob offers the industry’s most advanced and comprehensive turnkey unmanned ground robotics solutions to safely and effectively perform a variety of dangerous missions, including explosive ordinance disposal (EOD), hazardous materials handling (HAZMAT) and chemical, biological, radiological and nuclear (CBRN) threat assessment. Its customers span 45 countries and numerous applications, including homeland security, emergency response and defense. Telerob is based near Stuttgart, Germany, with its U.S. office in Erie, PA.
The King & Spalding team advising AeroVironment on the transaction included Michael zu Löwenstein, Florian Geuder, Axel Schilder, Daniel Max, Susan Borschel, Nick Hill and Susanna Beard.
A link to AeroVironment’s press release can be found here.