AXISCADES: Acquires Cloud Wave; Trilegal Counsels on 90% Stake

• AXISCADES Technologies Limited acquired a 90% shareholding in Cloud Wave Technologies Private Limited and its subsidiaries, Aureate Polyment Private Limited and Protohubs System Solutions Private Limited.
• The acquisition is a strategic move for AXISCADES to transition towards aerospace manufacturing and build owned manufacturing capability.
• Trilegal advised AXISCADES, conducting legal due diligence and drafting key transaction documents including the share purchase and shareholders' agreements.
• The deal involved multi-disciplinary legal teams from Trilegal, including corporate, regulatory, trade law, employment, and competition law specialists.
• Partner Rahil Pereira led Trilegal's Corporate Team, which was central to advising on the acquisition.

The comprehensive legal support provided by Trilegal, involving multiple practice areas from corporate and regulatory to trade, employment, and competition law, exemplifies the intricate legal requirements of such cross-sector transactions.

AXISCADES Technologies Limited recently completed a significant strategic acquisition, securing a 90% shareholding in Cloud Wave Technologies Private Limited. This deal also encompassed Cloud Wave's wholly-owned subsidiaries, Aureate Polyment Private Limited and Protohubs System Solutions Private Limited, marking a pivotal moment for AXISCADES' long-term growth strategy.

The acquisition is a deliberate move by AXISCADES to transition its business model. The company aims to shift from its traditional engineering-services-led approach towards a stronger focus on aerospace manufacturing. This strategic pivot is designed to build proprietary manufacturing capability and capacity, which will complement AXISCADES' existing offerings in the Aerospace, Defence, and Electronics/Semiconductor sectors.

The complex transaction saw Trilegal providing comprehensive legal counsel to AXISCADES Technologies Limited. Their involvement spanned critical stages of the acquisition process, beginning with extensive legal due diligence conducted on Cloud Wave Technologies Private Limited and its subsidiaries, Aureate and Protohubs.

Trilegal's legal teams were also responsible for the negotiation and drafting of several crucial agreements. This included the primary share purchase agreement, the shareholders' agreement, and various other ancillary transaction documents essential for the successful completion of the deal. This multi-faceted legal support underscores the intricate nature of the AXISCADES Technologies Cloud Wave acquisition.

The successful execution of this India M&A deal required a broad spectrum of legal expertise, marshaled by Trilegal across multiple specialized teams. The firm's Corporate Team, central to the transaction, was led by Partner Rahil Pereira, with support from Counsel Aishwaria Ramanan, Senior Associate Mohammed Khalfan, and Associates Shourya Pratap Singh Tomar, Gayatri Puthran, Dia Shetty, Shloka Prashant Rao, Krithika Bhandari, Ishika Kansal, Saif Ali, and Harsh Mittal.

Further specialized guidance was provided by other Trilegal departments. The Regulatory Team was led by Partner Sumi Saikia, supported by Senior Associate Sidhant Kapoor and Associate Purboday Patitunda. Partner Himanshu Sinha headed the Trade Law Team, assisted by Counsel Samyak Jain, Senior Associate Ishabh Verma, and Associate Monarch Mittal. The Employment Team saw Partner Parvathy Tharamel at the helm, with Senior Associate Harshita Arora and Associate Shreya Sharma contributing. Finally, the Competition Law Team was led by Partner Gauri Chhabra, supported by Senior Associate Eesha Sheth and Associate Shreya Chaudhary, demonstrating the depth of legal resources deployed for this significant acquisition.

This AXISCADES acquisition highlights the dynamic M&A landscape within India's technology and aerospace sectors. The strategic move by AXISCADES to bolster its aerospace manufacturing capabilities through the acquisition of Cloud Wave and its subsidiaries, Aureate and Protohubs, reflects a broader trend of companies seeking to integrate and expand their operational footprints in high-growth industries.

The comprehensive legal support provided by Trilegal, involving multiple practice areas from corporate and regulatory to trade, employment, and competition law, exemplifies the intricate legal requirements of such cross-sector transactions. This deal serves as a notable example of how sophisticated legal counsel navigates the complexities inherent in strategic acquisitions aimed at transforming business models and enhancing market positioning in India's evolving industrial landscape.

This deal highlights significant M&A activity in India's tech and aerospace sectors, showcasing Trilegal's multi-disciplinary expertise in complex acquisitions involving corporate, regulatory, trade, employment, and competition law. Lawyers tracking market trends or advising clients on strategic acquisitions in these sectors can use this as a reference for deal structure and legal counsel involved.

Source: Original reporting via Trilegal