Goodwin has advised Summit Partners on the sale of its shares in ELATEC to Allegion plc for a purchase price of 330 million Euro on a cash-free, debt-free basis. The transaction is expected to close in the third quarter of 2025.
Summit Partners was founded in 1984 and is a global alternative investment firm that is currently managing more than 32 billion US-Dollar in capital. Summit invests primarily in technology, healthcare, life sciences and other growth industries and has invested in more than 700 companies worldwide.
ELATEC is a leading global provider of solutions related to short range wireless readers/writers offering flexible RFID solutions.
Allegion is a global pioneer in the security and access industry. With more than 30 brands sold in 120 countries across the globe, it is specialized in security around and behind the doorway.
Goodwin’s transaction team was led by Munich partner Dr. Jan Schinköth (Private Equity, Munich) and consisted of Sebastian Walczak, Silvia Rava, Nadja Einwächter, Tobias Schulz (all Private Equity, Munich), Felix Krüger (Tax, Frankfurt), Philipp Lauer (Tax, Munich), Folko Moroni, Jakob Lutzenberger (both Finance, Munich), Nadine Gommel, Bastian Schmack (both REI, Frankfurt), Gretchen E. Scott (Tech/Life Sciences, London), Eram Khan, Anuj Ghai (both Regulatory, London), Steven E. Clemens, Annelise Wexner (both Business Law, New York), James Mattus, Qiuyu (Zoe) Li (ERISA & Executive Compensation, Boston).