DBAG acquires stake in software developer FLS
Frankfurt am Main/ Heikendorf — Bird & Bird LLP advised DBAG Expansion Capital Fund, advised by Deutsche Beteiligungs AG (DBAG), on the acquisition of shares in FLS GmbH (FLS), based in Heikendorf near Kiel. FLS is a company that offers software for real-time scheduling of appointments and tours in service and logistics and is a leader in this market niche with its cloud-based SaaS solution.
In the course of a management buyout, DBAG Expansion Capital Fund will acquire a majority stake in FLS. The company’s founder as well as the previous management and employees continue to hold a significant stake in the company through an innovative reverse shareholding structure. The transaction has already been completed. The parties have agreed not to disclose the purchase price.
DBAG Expansion Capital Fund was advised by the following Bird & Bird attorneys:
Partner Dr. Hans Peter Leube, LL.M., Lead Partner (Corporate/M&A, Frankfurt), Associates Marianne Nawroth (Corporate/M&A, Frankfurt), Laura Müller (Corporate/M&A, Düsseldorf), Chyngyz Timur (Corporate/M&A, Frankfurt), Partner Dr. Barbara Geck and Associates Daniela Gudat, (both Labor Law, Frankfurt) and Florian Keßenich (Labor Law, Hamburg) as well as Partner Dr. Fabian Niemann, Counsel Lea Mackert, LL.M. (both Düsseldorf), Associates Dr. Miriam Ballhausen (Hamburg) and Dr. Juliana Kliesch (Düsseldorf) all Commercial.
Attorney Florian Döring led the transaction DBAG internally; tax advice and advice to DBAG on Luxembourg law was provided by a Linklaters team led by Munich-based partner Dr. Jann Jetter.tt
This transaction demonstrates that Bird & Bird’s well-known technology focus is also being widely accepted in the legal market for M&A matters. This is because the firm’s private equity advisory services also focus on investments in companies that focus on digitization topics and thereby achieve a significant innovation boost for the respective industry. Peter Leube has already been on DBAG’s side in several transactions and refinancings in the telecommunications sector (most recently in the acquisition of the vitronet Group and the Netzkontor-Nord Group). In this case, DBAG once again relies on Bird & Bird’s know-how and expertise in the area of innovative, digital business models as well as technology-focused industry expertise, such as here in the software provider segment with one of the first cloud-based SaaS solutions.