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CMS and Freshfields Advise on AVL's Sale of Piezocryst to Spectris

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CMS has advised AVL List on the sale of its subsidiary Piezocryst to Spectris. Freshfields Bruckhaus Deringer advised the buyer.

The transaction remains contingent on regulatory approval.

AVL List is a technology company specializing in development, simulation, and testing in the automotive industry, and in other sectors including rail, marine, and energy.

Piezocryst Advanced Sensorics is a provider of highly-specialized piezoelectric sensors.

According to CMS, "Spectris, already a world leader in testing equipment and precision measurement due to its subsidiary Hottinger Bruel & Kjaer (HBK), intends to leverage Piezocryst’s full potential to an even greater extent. Piezocryst will remain closely linked to AVL through a strategic partnership, both as a customer and as a partner in innovation and distribution."

In 2021, CMS advised on Moog Brno's transfer of part of the business to AVL Moravia (as reported by CEE Legal Matters on October 18, 2021).

The CMS team included Partners Clemens Grossmayer, Florian Mayer, Dieter Zandler, and Gabriela Staber and Lawyer Bernhard Oreschnik.

The Freshfields Bruckhaus Deringer team included Vienna-based Partners Ludwig Hartenau, Maria Dreher-Lorje, KatharinaKubik, and Karin Buzanich-Sommeregger, Counsel Gernot Fritz, Principal Associates Anna Binder-Gutwinksi, Benedikt Sprinzl, and Matthias Hofer, Senior Associate Thomas Mollnhuber, and Associates Estella Dannhausen, Tina Fokter Cuvan, Lisbeth Zimmermann, Daniel Metz, Jakob Tschachler, Sabeth Rivero Mendez, Maximilian Klein, Andreas Langer, Miriam Benmoussa, and Sophie Misra as well as further team members in Duesseldorf.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

Firm's website.