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Ashurst advises Knorr-Bremse on the conclusion of an investment agreement with Nexxiot and acquisition of a strategic minority stake in Nexxiot

07 June 2022

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    Ashurst advised Knorr-Bremse AG (Knorr-Bremse) on the conclusion of a comprehensive cooperation and investment agreement with Swiss TradeTech company Nexxiot and the acquisition of a strategic minority stake in Nexxiot. By acquiring the minority stake, Knorr-Bremse is becoming the Internet of Things (IoT) company's largest shareholder. The transaction is subject to customary closing conditions, among others, the approval of the relevant antitrust authorities.

    Knorr-Bremse is the global market leader for braking systems and other rail and commercial vehicle systems. The cooperation with Nexxiot enables Knorr-Bremse to make full use of the sensor technology and data ecosystem of the TradeTech pioneer, combining its systems technology with Nexxiot's cloud-based platform to add further value for its customers. This will enable Knorr-Bremse to further leverage digital business models, including data-driven services and Software as a Service (SaaS) for rail customers.

    Nexxiot is a leading supplier to the TradeTech sector and specialises in upgrading railcars and containers with IoT technology. Knorr-Bremse has invested around €60m in Nexxiot, enabling the company to continue its strong growth and build further market share in the rail industry. Together, Knorr-Bremse and Nexxiot aim to accelerate the digitalisation and automation of key areas like rail freight. With the cooperation and investment agreement, Knorr-Bremse and Nexxiot are addressing a significant global demand for IoT services for rail vehicle systems.

    At Knorr-Bremse's central legal department, the transaction was led by Goetz Frhr. v. Schlotheim-Reinbrecht (Corporate Legal M&A/Antitrust) in relation to the investment agreement and by Rasso Böck and Jenni Bellomo (both Legal Commercial Division Rail) in relation to the cooperation agreement.

    The Ashurst team was led by partner Dr Thomas Sacher. He was assisted by counsel Volker Germann (both Corporate/M&A, Munich), partner Dr Michael Holzhäuser (Competition & Antitrust, Frankfurt) and counsel Dr Maria Held (Competition & Antitrust, Munich). 

    Furthermore, a team from MLL Meyerlustenberger Lachenal Froriep led by partner Samuel Ljubicic (Corporate/M&A), assisted by associates Julia Ramseyer and Andrea Viest, provided advice on Swiss law.

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