Taylor Wessing advises DEUTZ on the sale of Torqeedo to strategic investor Yamaha

DEUTZ AG ("DEUTZ") has sold its subsidiary Torqeedo GmbH ("Torqeedo"), the world's leading manufacturer of outboard and inboard engines, to Yamaha Motor Co, Ltd ("Yamaha"). A Taylor Wessing team led by Düsseldorf partner and M&A expert Dr. Klaus Grossmann advised DEUTZ on all legal matters in connection with the sale.

DEUTZ had acquired Torqeedo in 2017 with the strategic goal of further expanding the global market-leading position of the specialist for e-boat engines and at the same time using its know-how to accelerate the expansion of the DEUTZ electric drive portfolio. As part of a bidding process, the Cologne-based engine manufacturer has now sold its subsidiary to the Japanese Yamaha Group as a strategic investor, which will be a new strong industrial home for Torqeedo. DEUTZ has thus taken a further step towards repositioning itself as part of its "Dual+" strategy. The proceeds from the sale will be used, among other things, to further develop DEUTZ's green product portfolio.

DEUTZ, headquartered in Cologne, is one of the world's leading manufacturers of innovative drive systems. The listed company's core competencies lie in the development, production, sale and servicing of diesel, gas, hydrogen and electrified drive systems for professional applications. Areas of application for DEUTZ engines include construction and agricultural machinery, material handling applications such as forklift trucks or lifting platforms, commercial and rail vehicles as well as boat applications for private and commercial use. With around 5,000 employees worldwide and almost 900 sales and service partners in more than 130 countries, DEUTZ generated revenue of more than €2 billion in the 2023 financial year.

Legal advisors DEUTZ AG
Taylor Wessing Germany: Lead Dr Klaus Grossmann (Partner), Cristina Böckle (Salary Partner), Verena Leuchten (Associate), Katrin Anwey (Associate), all Corporate / M&A, all Düsseldorf, Dr Bert Kimpel (Partner, Tax, Düsseldorf), Stephan Manuel Nagel (Partner, Düsseldorf), Mareen Coenen (Associate, Düsseldorf), Niklas Melzer (Associate, Hamburg), all Competition, EU & Trade, Johannes Simon (Partner, Employment, Pensions & Mobility, Düsseldorf), Dr Oliver Rothley (Partner, Capital Markets, Munich), Nikolaus Plagemann (Salary Partner, Capital Markets, Düsseldorf)