Orrick has advised Michelin North America on its acquisition of NexTraq, a U.S. provider of commercial fleet telematics, from FLEETCOR Technologies in an all-cash transaction. Financial terms were not disclosed.
Once completed, NexTraq will operate independently within Michelin North America. The closing of the acquisition is subject to the completion of certain customary conditions, including clearance under the Hart-Scott-Rodino Act.
The Orrick team advising on the acquisition was led by M&A partners Ed Batts and Charles Walker and included associates Diana Stern, Chris Trester and Susannah Nagle. Additional assistance was provided by partner Glynna Christian and associates Edwin Steussy, Vineeth Narayanan and Nikki Mondschein on IP matters, of counsels Patricia Zeigler and Lise Damelet on antitrust matters, partner Jason Flaherty and associate Keith Tidwell on compensation and benefits matters and partner Eric Wall and associate Michael Rodgers on tax matters.