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Clifford Chance advises Bridgepoint on $600m sale of Permaswage

1 July 2013

Clifford Chance advises Bridgepoint on $600m sale of Permaswage

International law firm Clifford Chance advised Bridgepoint on the sale of Permaswage, the market leader in the manufacture of permanent and separable couplings for major aerospace companies globally, to Precision Castparts Corp. of the US.

Permaswage, which was acquired by Bridgepoint in 2007, is an aerospace component supplier manufacturing permanent and separable couplings used to connect hydraulic, air and other tubing in all types of civil and military aircraft. The company's connectors operate in aircraft systems and currently fly on more than 100 aircraft types globally. The business operates from three sites, in Gardena, California; Paris, France; and Suzhou, China; allowing it to serve the major aircraft manufacturers and includes Airbus and Boeing amongst its global customer base.

The team of lawyers from Clifford Chance's international offices was led by partners Sarah Jones (New York), Jonny Myers (Bridgepoint relationship partner, London) and Gilles Lebreton (Paris). The team also included: corporate associates Xavier Petet (Paris), Michele Chebli and Christina Abood (New York);  partner Greg Olsen (London); counsel Tim Cornell and Rebecca Pereira (New York); partner Alexandre Lagarrigue and counsel Charles-Henri De Gouvion Saint-Cyr (Paris) and of counsel Gavin Solomons (Luxembourg).