JSA, AZB & Partners, Squire Patton Boggs and Davis Polk & Wardwell advised on Ohio-based Advanced Drainage Systems’ India leg of its USD1 billion acquisition of the water management business of Norma Group, a Germany-based manufacturer of engineered joining technology and flow control solutions such as hose couplings and clamps.
“The transaction was significant not only because of its size, but also because it involved a cross-border structure with multiple jurisdictional touchpoints and a tight execution timeline. It was rewarding to support a sophisticated buyer on a strategically important deal in the water management sector,” said Trisheet Chatterjee, lead partner for the JSA transaction team acting for Advanced Drainage Systems.
“One of the key challenges was co-ordinating the India-specific aspects of the transaction within a broader multi-jurisdictional deal and ensuring alignment with the overall signing and closing process.
“A particular highlight was the team’s ability to navigate those complexities efficiently and deliver a clean execution on the Indian side, despite the cross-border co-ordination required. It was a good example of strong collaboration and transaction management across stakeholders.”
Chatterjee had support from partner Sarvesh Kumar Saluja, principal associate Kaishori Raut, senior associate Neeral Jain and associate Nandini Mendiratta. The direct tax team comprised partner and head of practice, direct tax Kumarmanglam Vijay, partner Surajkumar Shetty and associate Aditya Patadia. The indirect tax team comprised partner and head of practice, indirect tax, Manish Mishra, and counsel Ankur Mittal. The competition team was led by partner Vaibhav Choukse, assisted by principal associates Nripi Jolly and Aditi Khanna.
Squire Patton Boggs and Davis Polk & Wardwell are the international counsel for Advanced Drainage Systems.
The JSA team worked on legal due diligence on Kimplas Piping Systems, Norma Group’s Indian subsidiary, and advised on transaction structuring and regulatory considerations. The team also played a key role in drafting and negotiating transaction documentation, liaising with counterparty counsel, co-ordinating with regulatory authorities, and supporting the transaction through to completion.
AZB & Partners acted as Indian counsel to Norma Group, with partners Darshika Kothari, Kritika Agarwal, Shruti KP leading the team, and assisted by senior associate Sameer Raina. Gleiss Lutz acted as the international counsel for Norma Group.
