Freshfields, Slaughters steer £4.1bn takeover of UK-listed engineering group

Freshfields and Slaughter and May have taken lead roles on the £4.1 billion purchase of UK-listed engineering company Rotork, the latest overseas takeover of a British company listed on the London stock market.

Swedish-Swiss automation and electrification technology company ABB is acquiring FTSE 250-listed Rotork, which specialises in manufacturing flow control and valve automation equipment for oil and gas refineries, water treatment plants and power stations. 

ABB, which is dual-listed on Stockholm and Zurich exchanges, said the deal would be “highly complementary” to its existing automation portfolio and give it increased exposure to higher-margin products and services, while Rotork would benefit from ABB’s global scale and market reach.

The deal is expected to close in the first half of 2027, and after which Rotork, which has been listed on the LSE since 1968, will delist.

Delist, delist, delist

Public M&A deals taking UK-listed companies private have provided a steady stream of high-fee mandates for Freshfields and Slaughters, as well as other elite UK firms.

The duo are also advising on the £11 billion private equity takeover of FTSE 100 Intertek, and in March, the Magic Circle pair were brought in to advise on Zurich’s £8 billion takeover of British FTSE 100 insurer Beazley.

Slaughters also acted for London-listed aerospace manufacturing firm Senior in its £1.4 billion takeover by Blackstone and private equity firm Tinicum.

Advising 

Freshfields is advising ABB. Corporate M&A partners Piers Prichard Jones and Tamara Young are leading a team of lawyers across debt financing, regulatory, tax and employment.

A Slaughters team including corporate partners Simon Nicholls, Hemita Sumanasuriya and Jack Wharton and competition partner Anna Lyle-Smythe is advising Rotork, supported by a cross-practice team.