Press release

Gateley Legal advises Langley Holdings on the acquisition of Bergen Engines

Gateley Legal

The Leeds office of Gateley Legal has advised Langley Holdings plc on the acquisition of Bergen Engines from Rolls-Royce.

Rolls-Royce has agreed to sell its Bergen Engines medium speed liquid fuel and gas engines business to global engineering group Langley Holdings plc for an enterprise value of €63m. In addition, Rolls-Royce will retain some €40m of cash held within Bergen Engines.

Langley is funding the deal, and future funding requirements for the Bergen Engines business going forward, from existing cash reserves.

The sale includes the Bergen Engines factory, service workshop and foundry in Norway, engine and power plant design capability, and a global service network spanning more than seven countries. 

The agreement is subject to satisfying certain closing conditions and the Norwegian Government has been notified of the agreed sale, with effective completion scheduled for 31 December 2021

Corporate partner David Armitage led on the deal and commented: “We were pleased to advise Langley Holdings on this matter which involved multiple jurisdictions and a demanding timetable.

“Langley are a longstanding and much-valued client and I’m pleased we have been able to deliver the result they needed again.”

Warren East, CEO of Rolls-Royce, said: “We believe that this agreement will provide Bergen Engines and its skilled workforce with a new owner able to take the business on the next step of its journey.

“The sale of Bergen Engines is a part of our ongoing portfolio management to create a simpler, more focused group and contributes towards our target to generate at least £2bn from disposals, as announced last year.”

Anthony Langley, Chairman and CEO of Langley Holdings plc, said: “We are very pleased to have reached this agreement with Rolls-Royce.

“The acquisition of Bergen Engines is a strategic step in the development of our power solutions division, and I am looking forward to welcoming the 900 plus employees of Bergen Engines to our family of businesses.”

Jon Erik Røv, Managing Director, Bergen Engines, said: “Today marks the beginning of a new era for Bergen Engines.

“Through the investments made by Rolls-Royce in our business, together with our dedicated and skilled workforce, and worldwide reputation for quality, I'm confident that Bergen Engines will prosper with Langley Holdings as our new owners.”

The Leeds office of Gateley was established in 2012.  It is home to over 100 professionals operating from its city centre base. The team act for a number of big-name retailers including JD Sports, Watches of Switzerland, and Mamas & Papas.

Gateley Plc is authorised and regulated by the SRA (Solicitors' Regulation Authority). Please visit the SRA website for details of the professional conduct rules which Gateley Legal must comply with.

SubscribeHide

Forward thinking insight

Direct to your email inbox

Subscribe now