Eversheds has advised long standing client Brady Corporation, a leading global provider of precision engineered components on the sale of their Asian and European Die-Cut business to US based Boyd Corporation.

New York Stock Exchange-listed Brady announced last May that the die-cut operations no longer fit with the company’s overall strategy, and the disposal allows Brady to focus on its Identification Solutions and Workplace Safety businesses.

Eversheds acted as the international counsel on this deal which was responsible of handling legal issues across eight jurisdictions in which the die-cut business had operated – including China, Singapore, Thailand, Korea, Taiwan and Germany. The deal was signed on 24 February 2014 and is due to complete in two phases later this year, each subject to customary closing conditions.

Antony Walsh (Partner) and Jack Cai (Head of Shanghai Office) led a team supported by associates Chris Archer, Sam Chen and Monica Mo and trainee Rebecca Blackburn. Other Eversheds teams involved were Holger Holle and Sabine Wagner in Germany, Sze-Hui Goh and Joyce Tan in Singapore and Caroline Wikstrom and Per Westman in Sweden. The Team worked alongside Baker & McKenzie who was the US deal counsel.

Antony Walsh commented:

“This is a significant disposal which allows Brady to further focus and invest in its core business operations. This deal also confirms that we continue to secure mandates with a strong international element because this is a part of the market we are immersed in. Significant cross-border deals for large corporates are our normal, we are doing them day-in, day-out. All of which generates confidence, our clients are reassured that we will be able to deliver their complex transactions, wherever they may be in the world.”

Jack Cai commented:

“This is a highly complex cross border M&A transaction involving eight jurisdictions. Our ability to provide and coordinate quality legal advice across these jurisdictions on this transaction is another example demonstrating the strength of Eversheds’ international network and cross border M&A capabilities.”