Caterpillar to Acquire Electro-Motive Diesel in $820 Million Deal
In the $820 million acquisition of Electro-Motive Diesel by Caterpillar Inc.'s (CAT) railcar products and services unit, Ropes & Gray is representing Electro-Motive Diesel, manufacturer of diesel-electric locomotives and diesel power engines for all commercial railroad applications, and its private equity sponsors, Berkshire Partners and Greenbriar Equity Group.
Caterpillar Inc. has sought to expand its railcar products and services unit due to positive long-term outlook in the rail sector. The deal is expected to close by the end of 2010.
Through the first quarter of 2010, Ropes & Gray had advised on transactions totaling more than $25 billion, including several significant private equity firm buyouts.
Ropes & Gray was led by Chicago-based private equity partner James Lidbury.