DLA Piper advises HCLTech on acquisition of German Automotive Engineering Services Company ASAP Group

DLA Piper has advised its long-standing global client HCLTech, a leading global listed technology company headquartered in India, on the acquisition of ASAP Group for approximately EUR250 million. HCLTech announced last week that it has signed a share purchase agreement for the acquisition of 100% of the shares in the automotive engineering services provider with ZF Friedrichshafen AG and other sellers. The transaction is subject to customary regulatory approvals and is expected to close in September 2023.

Headquartered in Ingolstadt, Germany, ASAP is focused on future-oriented automotive technologies in areas such as autonomous driving, e-mobility and connectivity. With over 1,600 employees across nine locations in Germany, the company serves original equipment manufacturers (OEM) and suppliers in the automotive sector. ASAP’s services portfolio comprises electrics/electronics, software, consulting, service testing and validation and vehicle development.

HCLTech is a global leader in engineering and R&D services. The acquisition is a milestone for HCLTech’s expansion of the business focus in the automotive sector. It will boost the company’s global leadership in engineering services and strengthen its presence in Germany.

The DLA Piper team was led by counsel Dr Isaschar Nicolaysen and partner Dr Benjamin Parameswaran with senior associates Anne-Kathrin Hoppe and Jan Schürmann in the core team (all Corporate/M&A, Hamburg). The team further included partners Dr Henriette Norda (Employment, Hamburg), Dr Konrad Rohde (Tax, Frankfurt), Dr Thilo von Bodungen (Commercial), Dr Jan Geert Meents (IT, both Munich), Semin O (Antitrust, Frankfurt), Lars Reubekeul (Real Estate, Munich), Dr Wolfram Distler (Finance, Frankfurt), Verena Grentzenberg (Data Protection, Hamburg), Dr Gunne Bähr (Insurance, Cologne), counsels Georg Haberkorn (Employment, Munich), Sven Bischoff (Tax, Frankfurt), Dr Susanne Weckbach (Commercial, Munich), Dr Thilo Streit (Public Commercial Law, Cologne), Manuel Baroch Castellvi (Insurance, Cologne), Patrick Reuter (Finance, Frankfurt), senior associates Dr Katharina Fischer (Employment, Hamburg), Dr Holger Kastler, Ekaterina Filikhina (both IT, Munich), Philipp Moser (Real Estate, Munich), David Schele (Data Protection, Hamburg), Hubertus Neu (Corporate, Cologne), associates Monika Marincic (Commercial, Munich), Caroline Huber (Antitrust, Frankfurt), Dr Pia Dorn (Public Commercial Law, Cologne), Sabrina Wimmer (Real Estate, Munich), Ilgin Ayhan (Finance, Frankfurt) and Oliver Schmidt (Corporate, Munich).