/ Forta Corporation acquires assets of Chilean company TCPavementsApril 20, 2022
TCPavements, a company engaged in the design of concrete pavements, and Forta LLC, a company based in Pittsburgh, USA, have agreed that the latter will acquire the shares and assets of the Chilean company. Alessandri Abogados advised TCPavements in structuring the transaction.
Comercial TCPavements Limitada is a Chilean company established in 2007, which has developed, marketed and licensed a revolutionary invention in the worldwide concept of design for the construction of concrete pavements.
After months of negotiation with the directors of Forta LLC, a company specialized in the concrete industry based in Pittsburgh, USA, they have agreed to acquire the shares and assets of TCPavements. The closing of the sale took place on March 28, 2022.
Alessandri Abogados advised the Chilean company in the negotiation and structuring of the transaction, which was subject to a refined analysis since most of the assets corresponded to intellectual property. Currently, advice is being provided in connection with the due-diligence carried out by the buyer and in the negotiation and drafting of the SPA and acquisition of assets.
For Rodrigo Velasco, partner of Alessandri, “TCPavements is a great example of Chilean innovation for the world: thanks to the bet of an audacious investor like Andrés Navarro, we patented this new technology in more than 60 countries. In addition, the design software OPTIPAVE® was developed, which now gives its name to the new subsidiary of the North American multinational Forta Corporation, which has acquired the entire TCPavements operation worldwide.”
Lawyers involved in the negotiation:
Sellers: Alessandri (Chile) (Fernando Jamarne, Rodrigo Velasco, Franco Gorziglia, José Antonio Cuadra, Felipe von Unger); Kilpatrick Townsend & Stockton LLP (USA) (David Eaton).
Purchaser: Dentons Larraín Rencoret (José Manuel Larraín, Elio Castro, Daniela Llanos, Carolina del Rio); Dentons (United States) (John Wingerter, Bryan Magee).