Womble Bond Dickinson represented Wood, a global leader in consulting and engineering, in its $30 million cash consideration deal to divest its equity in CEC Controls and its affiliated entity in Mexico to SCIO Automation Group, a Germany-based global industrial automation company. The deal closed on August 30, 2024.
Wood’s in-house team was led by its President for Corporate Development and Strategy, Erik Larson, and Managing Counsel, Catalina Niňo. Womble Bond Dickinson’s team, which represented Wood included Houston partner Francisco Balduzzi, partner Matt Homan, and associate Ian Beckelman. E&Y served as exclusive financial advisor to Wood in this transaction.
Warren, Michigan-based CEC Controls employs approximately 220 people across US, Mexico, and Canada. The company has been a leader in the industrial and process control systems integration sector for 55 years.