Woodward acquires Swiss-based Integral Drive Systems AG

On March 22, 2011 Woodward, Inc. (NASDAQ: WWD) announced that it has reached a definitive agreement to acquire Integral Drive Systems AG and its European affiliates (IDS) as well as IDS's key assets of its business in China for a total purchase price of approximately USD 36 million in cash. IDS is a leader in innovative power electronic systems predominantly in utility scale wind turbines and photovoltaic plants. The closing of the transactions is subject to customary closing conditions.

Lenz & Staehelin advises Woodward in this transaction. The team includes Tino Gaberthüel, Stephan Erni and Markus Schaffner (Corporate and M&A), Pascal Hinny (Tax), Peter Braun (Employment), Dirk Spacek (IP) and Marcel Meinhardt (Competition).

Published: 24 March 2011