Strix is the world leader in kettle controls. Holding 56% of the global kettle control market, its products are used approximately one billion times every day worldwide. Dehns has worked with the business now known as Strix for over 50 years and has played a major role in supporting its international growth and expansion. Senior partners within Dehns’ Engineering and Trade Mark groups have worked closely with Strix for more than two decades, providing long-standing strategic advice, client management at partner level, and oversight of Strix’s global trade mark portfolio.
In June 2022, Dehns was contacted by Strix’s IP Manager, who advised that Strix was looking to enter the integrated water tap market and was considering the acquisition of Billi, an Australian company and leading brand in the supply of premium instant boiling, chilled and sparkling filtered water systems.
The proposed acquisition would provide Strix with an immediate entry point into a rapidly expanding market, while also delivering additional technology expertise. Dehns was instructed to undertake an IP due diligence project to assess Billi’s intellectual property portfolio.
The final report was required to identify and assess the strength of the IP portfolio, which included multiple pending patent applications and a number of registered trade marks, as well as highlight the potential commercial value of the IP assets. Given the scope of the portfolio, partners from both the Engineering and Trade Mark groups collaborated on the project to ensure comprehensive coverage of all IP aspects.
The team was given just three weeks to complete the research and analysis and deliver a final report to be reviewed by Strix, its legal advisers, and Zeus Capital, which was advising on the financing of the potential acquisition.
The Engineering team reviewed five pending patent families, while the Trade Mark team identified and reviewed 122 trade marks as part of the due diligence exercise.
In addition to assessing legal status and territorial coverage, the Engineering team provided an objective assessment of anticipated patent strength and the potential commercial value of the underlying technology. A patent landscape search was also commissioned to understand competitor activity and IP protection trends within the market.
The Trade Mark team advised on gaps within the trade mark portfolio, identifying marks in use on Billi’s websites that were not covered by trade mark registrations or applications, and recommended trade mark availability searches for certain key marks.
Despite the extremely tight timeframe, Dehns completed and delivered the IP due diligence report within three weeks.
Following submission of the report, Dehns responded to a number of follow-up queries from the various parties involved in the transaction, including Zeus Capital and Strix’s insurance broker. Additional information was provided to clarify the scope of the assessment and confirm the status of IP rights across multiple territories.
With all questions addressed and requests for further information satisfied, Strix’s acquisition of Billi completed in November 2022 for £38 million.
The acquisition gave Strix immediate access to the integrated water tap market and was cited by Strix as one of its key highlights of 2022.
This case study demonstrates how Dehns, with no prior involvement in the transaction or familiarity with the IP portfolio, was able to deliver a thorough and commercially focused IP due diligence report within an exceptionally short timeframe. The report played a direct and meaningful role in supporting the acquisition decision.