McGuireWoods Advises Teledyne Technologies in $8 Billion Acquisition of FLIR Systems Inc.

January 6, 2021

McGuireWoods advised longtime client Teledyne Technologies Incorporated in its merger agreement to acquire FLIR Systems Inc. in a cash and stock transaction valued at approximately $8 billion.

The transaction has been approved by the boards of directors of both companies and is expected to close in the middle of 2021 subject to regulatory approvals, approvals of Teledyne and FLIR stockholders, and other closing conditions.

Teledyne is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. FLIR is a world-leading industrial technology company focused on intelligent sensing solutions for defense and industrial applications.

Pittsburgh M&A partner Scott Westwood led the McGuireWoods team representing Teledyne, which also included M&A counsel Gary Regan and securities partner Hannah Frank in Pittsburgh; debt finance partner Benjamin Iselin and securities partner Jeffrey Rothschild in New York; securities counsel David Wolpa and tax partner J. Michael Wilson in Charlotte; and antitrust partners Brent Justus in Richmond, Virginia, and Matthew Hall in London.

“We were proud to assist our valued client Teledyne in this significant transaction,” Westwood said. “This deal demonstrates the range of capabilities and industry knowledge McGuireWoods delivers for our clients in complex M&A deals.”

In league tables published by Refinitiv and Bloomberg, McGuireWoods consistently ranks among the leading law firms for U.S. and global M&A deals, including private equity transactions.