Freshfields has advised First Reserve on its agreement to acquire a subset of the international power transmission and distribution division of Crompton Greaves Limited

Freshfields Bruckhaus Deringer LLP (Freshfields) has advised First Reserve on its agreement to acquire a subset of the international power transmission and distribution division of Crompton Greaves Limited. First Reserve is a leading private equity and infrastructure investment firm focused on energy, and Crompton Greaves Limited is an Indian-listed global leader in the management and application of electrical energy. The division to be acquired, which is expected to be rebranded as Pauwels, manufactures transformers and switchgears and provides systems across the transmission and distribution space.

Pauwels is considered one of the pioneers in the global power transformer industry. It has operations that span Europe, the U.S., Southeast Asia and the Middle East and account for its approximately €500 million in annual sales. 

First Reserve is partnering in the investment with Pierre Bastid, former Chairman and CEO of Converteam.

The Freshfields team was led on the corporate side by senior associate James Scott and partner Graham Watson. They were supported by corporate partners Pratap Amin and Arun Balasubramanian and finance partner Peter Hall. Freshfields worked with the law firm Platinum Partners who advised on the Indian law aspects of the transaction and whose team was led by partners Nihar Mody and Ankit Majmudar.