Day Pitney Advises Fuel Systems Solutions in Merger with Westport Innovations
Publisher: Day Pitney Press Release
September 2, 2015
New York, September 2, 2015 - Day Pitney is advising Fuel Systems Solutions, Inc., a leading designer, manufacturer and supplier of proven, cost-effective alternative fuel components and systems for use in transportation and industrial applications, in connection with its merger with Westport Innovations Inc., a leader in advanced high-performance, low-emission fuel system and vehicle technologies utilizing gaseous fuels for transportation and industrial applications. Skadden Arps, Slate, Meagher & Flom, is counsel to Fuel System's board of directors on the merger. The transaction will result in a combined equity value of $351 million based on the closing trading prices for the shares of both companies on August 31, 2015 and combined annual revenues ranging from $380 to $405 million projected for 2015. The companies anticipate closing the transaction in the fourth quarter of 2015.
Ronald Janis led the Day Pitney team, which included Achilles Kintiroglou, Kendall Wilson, Henry Ko, Ellen Knarr, David Doyle and Steve Ziobrowski.
