Pryor Cashman Represents Omnicon Group in $29M Sale to Spectris
On October 17, 2017, Pryor Cashman client The Omnicon Group, Inc. was acquired by UK-based Spectris plc (LSE: SXS), a leading supplier of productivity-enhancing instrumentation and controls, for an initial consideration of $29 million.
Founded in 1984, Omnicon provides a range of services to help its customers analyze and improve product reliability and safety. Key industries served include aerospace, automotive, transportation and defense within the US market.
In a recent press release announcing the deal, Spectris stated, “Omnicon strongly complements the existing capability of the reliability and durability software and services portfolio within Spectris’ Test and Measurement segment. The combination of these businesses provides strong geographic growth opportunities across the joint customer base, particularly in the US and in Europe.”
News of the acquisition was covered by numerous media outlets, including Fox Business.
The Pryor Cashman Team
Robert deBrauwere advised Omnicon on the intellectual property aspects of the deal.
John Crowe, Co-Chair of the firm’s nationally-recognized Corporate Group, handled the transaction, with assistance from Gene Levin and Kimber Hargrove.
Partner Michael Dunworth, Counsel Rebecca Schmutter and Associate Taylor Weinstein advised on various tax issues, while Counsel Matthew Young handled related employment issues.
