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Ropes & Gray Represents American Industrial Partners-Backed Company in Potential Sale of Gerber Technology

Practices: Private Equity, Employment, Executive Compensation & Employee Benefits, Tax, Finance, Litigation, Government Enforcement / White Collar Criminal Defense, Real Estate Investments & Transactions

Ropes & Gray is representing AIPCF VI LG Funding, LP, an affiliate of American Industrial Partners, in an agreement to potentially sell Gerber Technology to Lectra S.A., a French société anonyme listed on Euronext (LSS). In advising AIP, Ropes & Gray worked closely with attorneys at the French law firm Gide Loyrette Nouel. The potential transaction was announced on February 8, and the press release is available here.

Under the proposed acquisition, Lectra would acquire all outstanding shares of Gerber Technology on a cash-free debt-free basis for an upfront payment of 175 million euros – through a combination of cash and debt – plus 5 million newly issued Lectra shares to AIPCF VI LG Funding, LP, an affiliate of American Industrial Partners that is Gerber Technology’s sole shareholder, representing a total amount of about 300 million euros based on Lectra’s closing share price on February 5, 2021.

Gerber Technology uses proprietary technologies and deep domain expertise to provide integrated software and automated hardware solutions to companies around the world, including over 100 Fortune 500 companies in 134 countries. Lectra manufactures and distributes computer systems used in fashion design and textile processing, which computer systems are used to automate garment design and the cutting of fabrics.

The Ropes & Gray team that represented AIP was led by private equity partner Bob Rivollier and private equity associates Douglas Giannantonio and Carl Ruggiero (all of New York), and included private equity partners Daniel Evans (New York, Boston) and Elizabeth Todd (London), employment, executive compensation & benefits partners Alexandra Alperovich (New York) and Megan Bisk (Boston), tax partners Elaine Murphy (Boston), Adam Greenwood (New York) and Andy Howard (London), tax associate Tristan Evans-Wilent, finance partner Stefanie Birkmann (both of New York), litigation & enforcement partners Ama Adams (Washington D.C.) and Randall Bodner (Boston), and real estate partner Peter Alpert (Boston).

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