Bendix’s Divestiture of R.H. Sheppard to an Affiliate of Balmoral

On December 20, 2024, Bendix Commercial Vehicle Systems LLC (“Bendix”), a North American subsidiary of Knorr-Bremse, announced the company finalized the sale of its wholly owned subsidiary, R.H. Sheppard Co., Inc. (“R.H. Sheppard”), to an affiliate of Balmoral Funds LLC (“Balmoral”), a Los Angeles-based private equity firm. The transaction encompasses the entire Sheppard business, including Sheppard’s branded products, production equipment, sales and service companies, and interests in joint ventures relating to sales and production. Cravath is representing Bendix in connection with the transaction.

The Cravath team is led by partners Bethany A. Pfalzgraf and Aaron M. Gruber and includes associates Samantha Greenky, Ori Oren and Jack F. Chen on M&A matters; partner Andrew T. Davis and associate Tristan Baylor on tax matters; partner Matthew J. Bobby and associates Caroline Wyatt and Nicholas J. Celli on executive compensation and benefits matters; partner Sasha Rosenthal-Larrea and associates Albert Wong and Lucille Dai-He on intellectual property matters; senior attorney Annmarie M. Terraciano on environmental matters; and practice area attorney Brian M. Budnick on real estate matters.