Majmudar & Partners recently represented Hardinge Inc., a leading international provider of advanced metal-cutting solutions, on its acquisition of the Forkardt work holding products division of ITW India Limited by way of a business transfer. The transaction was part of Hardinge’s global acquisition of the Forkardt business of Illinois Tool Works Inc., a U.S.-based publicly traded company, for US$34 million. The acquisition of the U.S., Swiss, German and Chinese Forkardt businesses by Hardinge was completed in 2013. The Indian leg of the transaction was completed in April 2014, since this part of the transaction involved the establishment of the India purchaser entity as a limited liability partnership, which required the prior approval of the Foreign Exchange Promotion Board (FIPB) to be obtained.

Akil Hirani, Managing Partner, and Christopher Krishnamoorthy, Associate Partner, led the team from Majmudar & Partners on this transaction.