White and Williams Represents CRP Industries
White and Williams represented Cranberry, NJ-based CRP Industries (CRP) – one of North America’s leading suppliers to the automotive and industrial service market – in the sale of its after-market automotive belt business to long-time partner Continental A.G., a developer of technologies and services for vehicles, machines, traffic and transportation. The sale specifically comprised import and domestic Continental-branded multi-v belts, accessory drive kits, v-belts, timing belts, Pro Series kits, Pro Series Plus kits and Black Series kits. With the purchase of CRP’s belt business, Continental has now brought together all their branded aftermarket belt products into the Fairlawn, OH-based and German-owned company. CRP will continue to sell its other non-Continental brands.
The transaction was led by International and Corporate partner Gary Biehn, with assistance from Corporate associates Tarik Abdel-Meguid, Jamie Wang and Gwenn Barney. A cross-disciplinary team was also involved in the transaction, including partner David Creagan (Antitrust); partner John Eagan and counsel Kevin Koscil (Tax); and partner Tom Pinney (Finance).