Global law firm White & Case LLP has advised Johnson Matthey on the sale of its UK automotive battery systems business, a subsidiary that specializes in high-voltage automotive grade battery systems for electric and hybrid vehicles, to Cummins Inc.
As part of the transaction, Johnson Matthey and Cummins have agreed to collaborate on the development of high energy battery materials for commercial heavy duty applications. The deal allows Cummins to expand its electrification and energy storage capabilities, while Johnson Matthey will focus on developing high energy battery materials for transport applications within its overall technology portfolio.
"The White & Case team advised FTSE 100-listed Johnson Matthey on the sale of an asset to a business in the Fortune 500 that also signals the launch of a new strategic partnership," said London-based White & Case partner Marcus Booth, who co-led the deal team. "The transaction underlines the strength of our UK public company M&A capabilities."
Johnson Matthey is a global leader in science that employs more than 13,000 people. It is committed to innovation and technological breakthroughs that improve the function, performance and safety of our customers' products, and its science has a global impact in areas such as low emission transport, pharmaceuticals, chemical processing and the use of natural resources.
Cummins Inc., a global power leader, designs, manufactures, distributes and services diesel and natural gas engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, it currently employs approximately 55,400 people worldwide.
The White & Case team in London which advised on the transaction was led by partners Marcus Booth and Jarlath McGurran, and included partners Lindsey Canning, Victoria Landsbert, Nicholas Greenacre, Michael Wistow and Tim Hickman, and associates Joe Bradley, Robert Wake-Walker, Philip Vavalidis, James Golunski, Chris Ewing, Jack Gardener and Khurran Kayani.
For more information please speak to your local media contact.