Freshfields Bruckhaus Deringer is advising Zhuzhou CSR Times Electric Co., Ltd. (CSR) on its acquisition of Specialist Machine Developments Limited (SMD) from Inflexion Private Equity Partners and members of management.

CSR is part of the CSR Group, one of the world’s largest manufacturers of electric locomotives.

The acquisition was announced on 5 February, pricing SMD at an enterprise value of £120m. Completion of the transaction remains subject to regulatory filings in the PRC.

SMD was founded in 1971 and is one of the world’s leading manufacturers of remote intervention equipment, operating in hazardous environments worldwide.

The Freshfields team advising on the transaction is led by partner Alan Wang and counsel Philip Li.