Keystone Law has advised Allegheny Technologies Incorporated (ATI) on the sale of its Sheffield operation to the private equity company Mutares SE & Co. KGaA which completed on 12 May 2022 following satisfaction of all conditions, including approval under the National Security and Investment Act.

ATI is a global producer of specialty materials and solutions for aerospace and defence. The Sheffield business, which employs around 190 people, produces a range of high-integrity products in low-alloy steels, stainless steels and nickel-based super alloys for a variety of sectors including aviation, defence and energy.

The Keystone team advising on the sale was led by Corporate partner Jeremy Davis and included Commercial solicitor Rupert Casey, Employment partner Emma Clark, Finance partner Howard Waterman, Insurance partner Nilam Sharma, Pensions solicitor Monica Ma, Property partner Sheena Ray, EU & Competition partner Dr Alexandra von Westernhagen, Tax solicitor Michael Fluss, and trainee solicitors Sophie Welbourn and Japneet Bhambra.

“Keystone Law was an excellent partner in our sale of the Sheffield operation,” said Elliot Davis, ATI Senior Vice President, Chief Legal and Compliance Officer. “With legal expertise across a variety of disciplines, they were instrumental to navigating a complex process. We wish the Sheffield operation the best as it builds on its excellent reputation for quality and services.”

Jeremy Davis added:

“I first advised ATI on its acquisition of Sheffield in 1998 and am proud to have advised them on UK matters ever since then and now on this sale in 2022. We were delighted to work with the ATI team on this transaction and showcase the wide variety of expertise at Keystone to get this complex deal across the line.”