Süd Beteiligungen sells stake in KKL Group to bluu

Frank­furt a. M. — The Stut­t­­gart-based invest­ment company Süd Betei­li­gun­gen GmbH (SüdBG) has sold its shares in KKL Holding GmbH (KKL), Düssel­dorf, to bluu unit GmbH, a port­fo­lio company of Triton Part­ners. The tran­sac­tion also includes the shares of the foun­der Andreas Kohmann and the manage­ment invol­ved. The tran­sac­tion is still subject to anti­trust appr­oval. McDer­mott Will & Schulte advi­sed SüdBG on this transaction. 

Foun­ded in 1987, KKL is conside­red one of the most promi­nent specia­lists in the field of refri­ge­ra­tion, air condi­tio­ning and venti­la­tion tech­no­logy and data center solu­ti­ons in Germany. SüdBG inves­ted in the company in 2018 as part of a manage­ment buy-out and has since supported the manage­ment in imple­men­ting the growth stra­tegy toge­ther with the foun­der and advi­sory board. KKL curr­ently employs around 300 people and gene­ra­tes sales of over 80 million euros. 

bluu unit, head­quar­te­red in Ludwigs­burg, is an alli­ance of regio­nally strong, inde­pen­dent compa­nies with a focus on sustainable refri­ge­ra­tion and air condi­tio­ning technology.

SüdBG, a wholly owned subsi­diary of Landes­bank Baden-Würt­­te­m­­berg (LBBW), is one of the leading invest­ment compa­nies in the German-spea­king region and a long-term inves­tor. Over the past ten years, SüdBG has supported the sustainable deve­lo­p­ment of more than 70 compa­nies with around EUR 600 million and a broad network. 

McDer­mott advi­sed SüdBG under the lead manage­ment of part­ners Dr. Chris­tian Marz­lin and Dr. Bene­dikt von Schor­le­mer. The team included part­ners Rolf Hüner­mann and Dr. Heiko Kermer, coun­sel Holger Mlynek, Dr. Simon Grone­berg, Marcus Fischer and Dr. Laura Stamm­witz as well as asso­cia­tes Jenni­fer Rogal­ski, Jan Ischreyt, Constanze Götz, Carina Schüt­ze­berg and Sönke Wassermann.