23 July 2013

Pentair replicates Tyco Eversheds deal

Pentair Flow Control has appointed international law firm Eversheds as its legal adviser on a two-year multimillion-pound contract oversee its routine legal work in the EMEA region.

By Charlotte Mullen

Pentair manufactures valves and provides thermal management solutions donvictorio

The company, which makes valves and controls and provides thermal management solutions, was spun off from Tyco last September. The contract will see Eversheds covering the company’s litigation, IP and commercial work, M&A and antitrust work and, according to the firm, is similar to the latest deal it struck with Tyco.

Fixed fees

The contract is estimated to be worth more than Eversheds’ £13 million contract with Tyco and, according to Pentair EMEA Associate General Counsel Mark Tapsik, the company is looking to have “a fixed fee environment.” Mr Tapsik said of the deal: “Having worked with Eversheds and seen the success in the operation of the model, I was keen that the Flow Control businesses continued to work with the same discipline.’ He added that the Pentair legal team was “impressed with the results of the approach that Tyco used with its outside counsel and it is the intention that we will adopt the same approach with Eversheds.”

Utilising data management

Stephen Hopkins, head of global client development at Eversheds  – said the firm had worked with Mr Marek  for a number of years and that he had experienced the benefits that the Eversheds partnership delivered to Tyco and believed those benefits can also be delivered for Pentair. He went on to say that the firm would be ensuring that data and management information would form a “significant part of the overall process” and would enable Eversheds to analyse risk issues and introduce efficiencies so that they could “move towards a single fixed fee for Pentair’s work in the region.”

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