Top 10 Legal Advisors in Automotive Industry in the World in 2022 by Deal Value

Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates, Latham & Watkins LLP, Simpson Thacher & Bartlett LLP, Blake, Cassels & Graydon LLP, and Cooley LLP are among the top 5 legal advisors in the automotive industry in 2022 by deal value. The Ritchie Bros-IAA was the major deal in the automotive sector in 2022. Goodwin Procter LLP, McCarthy Tétrault LLP, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisors to Ritchie Bros, while Cooley LLP and Blake, Cassels & Graydon LLP served as legal advisors to IAA. Ritchie Bros Auctioneers Incorporated (Ritchie Bros), a Canada-based industrial asset disposition & management company, has signed a definitive agreement to acquire IAA Inc (Insurance Auto Auctions Inc), a US-based global digital marketplace connecting vehicle buyers and sellers, for a purchase consideration of approximately $7,300 million including the assumption of $1,000 million of net debt, in a stock and cash transaction. Apollo Funds-Tenneco was another major deal in the automotive sector in 2022. Latham & Watkins LLP acted as legal advisor to Tenneco, while Wachtell, Lipton, Rosen & Katz served as legal advisor to Apollo Funds. Apollo Funds, a fund managed by affiliates of Apollo Global Management, has acquired Tenneco Inc., a designer, manufacturer, and distributor of automotive spares, for an enterprise valuation of $7,100 million at $20 per share. Both the entities involved in the transaction are based in the US. The EQT Infrastructure- Cirba Solutions was one of the major deals in the automotive sector in 2022. Kirkland and Ellis acted as legal counsel, while Simpson Thacher & Bartlett served as legal advisors for EQT Infrastructure. EQT Infrastructure V Fund is a Sweden-based provider of battery recycling services that offers community collection, disassembly, battery boot camp, battery maintenance, battery inventory management, and distribution, and battery de-installation services has invested $245 million in Cirba Solutions, the US-based a provider of battery recycling services that offers community collection, disassembly, battery boot camp, battery maintenance, battery inventory management, and distribution and battery de-installation services.