ALTERNATIVE FINANCING FORMS
FOR ENTREPRENEURS AND INVESTORS

News-Kategorie: Deals

Rheinmetall takes over Spanish ammunition manufacturer Expal Systems

Düsseldorf/ Frank­furt a. M. — Herbert Smith Free­hills advi­sed Düssel­dorf-based Rhein­me­tall AG on the conclu­sion of a purchase agree­ment with Maxam­Corp. Holding S.L., Madrid, to acquire all shares in Expal Systems S.A., a global muni­ti­ons manu­fac­tu­rer. The closing of the tran­sac­tion, which is expec­ted to take place by summer 2023, is subject to anti­trust and other regu­la­tory reviews. The agree­ment between Rhein­me­tall and Maxam­Corp. The agreed purchase price is based on an enter­prise value of EUR1.2 billion.

Herbert Smith Free­hills advi­sed Rhein­me­tall with an inter­na­tio­nal team led by part­ners Dr. Sönke Becker (Corporate/M&A, Düssel­dorf) and Alberto Fras­quet (Corporate/M&A, Madrid).

Advi­sor Rhein­me­tall: Herbert Smith Free­hills Düsseldorf/ Frank­furt
Dr. Sönke Becker
(photo) (Lead, Corporate/M&A), Dr. Marcel Nuys (Compe­ti­tion), Dr. Marius Boewe (Regu­la­tory), Dr. Stef­fen Hoer­ner (Tax), Dr. Julius Brandt (Corporate/Capital Markets); Marjel Dema (Senior Asso­ciate, Corporate/M&A); Coun­sel: Dr. Chris­tian Johnen, Lena von Richt­ho­fen (both Corporate/M&A); Dr. Florian Huer­kamp (Compe­ti­tion); Asso­cia­tes: Tatiana Guens­ter (Tax), Mirko Gleits­mann, Caro­line Wendt (both Compe­ti­tion), Kris­tin Kattwin­kel, David Rasche (both Regulatory)

Madrid: Alberto Fras­quet (Lead, Corporate/M&A), Henar Gonza­lez (Compe­ti­tion), Tomas Diaz Mielen­hau­sen (Real Estate); Coun­sel: Marta Este­ban (Corporate/M&A), Pablo Garcia Mexia (Dispu­tes), Álvaro Gross (Real Estate), Esther Lumbre­ras (Public Law); Asso­cia­tes: Amparo de Leyva, Alejan­dro Hillage, Jacobo Jimé­nez-Poyato Narváez, Carmen Muñoz, Alvaro Silva (all Corporate/M&A), Igna­cio Jimé­nez-Poyato Narváez, Pablo de Vega Tremps (both Employ­ment), Beatriz Madri­gal, Lucía Tarr­acena Figar (both Real Estate), Miguel Ángel Barroso López, Monica de Hevia, Cata­lina Hierro (all Public Law), Jose Munoz (Compe­ti­tion), Miguel Alva­r­gon­za­lez, Chris­tina Diez de Rivera, Jose Maria Faz (all Finance)

New York: James Robin­son (Corporate/M&A), Joseph Falcone (Dispu­tes); Asso­cia­tes: Lina Velez (Finance, Corporate/M&A), Tyler Hendry (Employ­ment)
Milan: Fran­ce­sca Morra, Iria Calvino; Asso­ciate: Giacomo Gavotti (all Corporate/M&A)
London: Vero­nica Roberts; Asso­cia­tes: Max Kauf­man, Agostino Bignardi (all Regulatory)
Kuala Lumpur & Sing­a­pore: Glynn Cooper; Asso­cia­tes Prakash Selvam, John Ling (all Corporate/M&A)
Brussels: Kyria­kos Foun­tou­ka­kos (Compe­ti­tion)

GreenGate Partners advises COBE on the sale of its shares to Etribes Group

Munich — Etri­bes Group GmbH acqui­res 100% of the shares in COBE GmbH.
COBE GmbH offers specially deve­lo­ped, brand-speci­fic UX iden­tity methods (UXi) and thus expands the imple­men­ta­tion exper­tise of Etri­bes’ digi­tal consul­ting deut-
lich. Green­Gate Part­ners advi­sed the share­hol­ders of COBE GmbH on the sale of all ge-
busi­ness shares.

COBE GmbH is a specia­list in UI/UX design and soft­ware deve­lo­p­ment with around 90 full-time employees spread across Munich and Osijek (Croa­tia). Since its foun­ding in 2012, COBE — Creators Of Beau­ti­ful Expe­ri­en­ces — has suppor­ted a range of corpo­rate clients from ProSiebenSat.1 and Voda­fone to Bosch, BMW and REWE in the deve­lo­p­ment of digi­tal products. In doing so, the company combi­nes a user-cente­red design approach with proprie­tary, brand-speci­fic UX iden­tity (UXi) methods.
With the inte­gra­tion of the UX/UI design and product deve­lo­p­ment agency COBE into the Etri­bes Group, Etri­bes has signi­fi­cantly streng­t­he­ned its imple­men­ta­tion exper­tise in the areas of UX/UI design, service design, web and mobile deve­lo­p­ment. Toge­ther, COBE and Etri­bes are even more attrac­tive for DAX corpo­ra­ti­ons and German SMEs.

As part of the tran­sac­tion, Green­Gate Part­ners advi­sed the sellers on the sale of their shares in COBE GmbH to Etri­bes Group GmbH.

Advi­sor COBE GmbH: Green­Gate Part­ners Rechts­an­walts­ge­sell­schaft mbH
Dr. Tobias Schön­haar, LL.M. (part­ner)
Marc René Spitz, LL.M. (USC) (Part­ner)
Advi­sor Etri­bes Group GmbH: honert hamburg PartG mbB
Dr. Jan-Chris­tian Heins (Part­ner) Dr. Fran­ziska Stro­bel, LL.M. (LSE)

About Green­Gate Partners
Green­Gate Part­ners is a tech­no­logy law firm with parti­cu­lar exper­tise around venture capi­tal and tran­sac­tions. From our offices in Berlin, Hamburg and Munich, expe­ri­en­ced lawy­ers offer their clients first-class advice at eye level.
The scope of consul­ting in the venture capi­tal area is compre­hen­sive and ranges from the foun­ding to the indi­vi­dual finan­cing rounds to the exit. Clients include domestic and foreign venture capi­tal funds, stra­te­gic inves­tors, busi­ness angels as well as foun­ders, start-ups or managers.

Main Capital sells artegic to UNITED Marketing Technologies by DuMont

Düssel­dorf, Germany — Main Capi­tal Part­ners has success­fully comple­ted the stra­te­gic sale of arte­gic, a specia­list in marke­ting auto­ma­tion soft­ware, to marke­ting tech­no­logy provi­der UNITED Marke­ting Tech­no­lo­gies (“UNITED”), a DuMont Media Group company. The sale marks the third success­ful company sale by Main Capi­tal Part­ners in 2022.

The acqui­si­tion by UNITED repres­ents anot­her success­ful exit for Main Capi­tal Part­ners. With this acqui­si­tion, UNITED is further expan­ding its posi­tion in the field of marke­ting tech­no­logy. artegic’s marke­ting auto­ma­tion solu­ti­ons comple­ment UNITED’s current marke­ting tech­no­logy port­fo­lio, which inclu­des a cloud-based plat­form for social media manage­ment and an omnich­an­nel content platform.

arte­gic, head­quar­te­red in Bonn, Germany, was foun­ded in 2005. Since then, arte­gic has become a leading Euro­pean provi­der of cross-chan­nel, SaaS-based marke­ting auto­ma­tion solu­ti­ons and digi­tal CRM. arte­gic offers its custo­mers a strong service package for the concep­tion, imple­men­ta­tion and auto­ma­tion of indi­vi­dual marke­ting campai­gns. These solu­ti­ons enable first-class digi­tal dialog marke­ting via e‑mail and mobile.

The merger will enable UNITED and arte­gic to jointly acce­le­rate their growth trajec­tory in the field of marke­ting tech­no­logy. The part­ners­hip also combi­nes DuMont’s resour­ces and expe­ri­ence in media and marke­ting with artegic’s inno­va­tive soft­ware solution.

Main Capi­tal inves­ted in arte­gic in 2016 and has since suppor­ted the company on its orga­nic growth path. The focus was the trans­for­ma­tion from a tran­sac­tion-driven busi­ness model to a highly scala­ble and fast-growing SaaS model. Working with Main Capi­tal, arte­gic has nearly tripled its SaaS reve­nue and incre­a­sed its SaaS growth rate from a low single-digit percen­tage to over 33% in 2022/23.

Chris­tian Fried­richs, Mana­ging Direc­tor of UNITED by DuMont, commen­ted: “UNITED is taking a stra­te­gi­cally important step with the acqui­si­tion of arte­gic. We look forward to working with artegic’s manage­ment team and lever­aging our shared synergies.”

Stefan von Lieven, Mana­ging Direc­tor of arte­gic, commen­ted: “In UNITED, we have found a strong part­ner that has built up in-depth know­ledge in the field of marke­ting tech­no­logy throughout its corpo­rate history. As a group, we can offer our custo­mers a broa­der range of comple­men­tary solu­ti­ons in this area. We are very proud of this part­ners­hip and would like to thank Main Capi­tal Part­ners for their stra­te­gic support and exper­tise over the past years.”

Sven van Berge Hene­gou­wen, Part­ner at Main Capi­tal Part­ners, commen­ted: “We congra­tu­late arte­gic and UNITED on this success­ful part­ners­hip. The company has under­gone an impres­sive busi­ness model trans­for­ma­tion that has resul­ted in SaaS growth rates of over 33%. We believe arte­gic has found a strong part­ner in UNITED for the next phase of growth.”

UNITED Marke­ting Tech­no­lo­gies by DuMont — www.united-mt.com

UNITED Marke­ting Tech­no­lo­gies by DuMont compri­ses all of DuMont’s invest­ments, which were bund­led for the first time in 2017 in its own Marke­ting Tech­no­logy busi­ness unit. Today, the UNITED group inclu­des the compa­nies face­lift (100 percent), censhare (100 percent), quintly (100 percent) and arte­gic (75.1 percent) — all with a focus on scala­ble soft­ware-as-a-service busi­ness models in the MarTech context. Curr­ently, 470 employees work at a total of seven loca­ti­ons world­wide for UNITED Marke­ting Tech­no­lo­gies, which combi­nes the advan­ta­ges of large holists and a large number of small specia­lists. The port­fo­lio and size of the UNITED compa­nies thus give DuMont a unique posi­tio­ning in the global MarTech land­s­cape. UNITED Marke­ting Tech­no­lo­gies is a 100 percent subsi­diary of the family-owned company DuMont.

arte­gic — www.artegic.com/de
arte­gic was foun­ded in 2005 and employs over 70 people. The company offers SaaS marke­ting auto­ma­tion solu­ti­ons that enable custo­mers to deve­lop and auto­mate complex digi­tal campai­gns in real time. The custo­mer base inclu­des Payback, BMW, DHL, Ameri­can Express and a total of one third of the German DAX companies.

Main Capi­tal Partners

Main Capi­tal Part­ners is a leading soft­ware inves­tor in the Bene­lux, DACH region and the Nordic coun­tries. Main has nearly 20 years of expe­ri­ence in streng­t­he­ning soft­ware compa­nies and works closely with the manage­ment teams of its port­fo­lio compa­nies as a stra­te­gic part­ner to realize sustainable growth and build excel­lent soft­ware groups. Main employs over 55 people and has offices in The Hague, Stock­holm, Düssel­dorf, Antwerp and the USA (Boston). As of Octo­ber 2021, Main has over €2.2 billion in assets under manage­ment. Main has inves­ted in more than 150 soft­ware compa­nies to date. These compa­nies have crea­ted jobs for about 9000 employees.

Main Capital acquires Wanko and FleetGO for new logistics software group

Frank­furt a.M. — Main Capi­tal Part­ners acqui­res Wanko Infor­ma­ti­ons­lo­gis­tik GmbH and FleetGO Group. The two compa­nies will be merged under the name FleetGO Group to form a new compre­hen­sive logistics soft­ware group. The manage­ment of both compa­nies took a mino­rity stake in the tran­sac­tion. McDer­mott Will & Emery advi­sed Main Capi­tal Part­ners on both tran­sac­tions. A team led by Norman Wasse and Dustin Schwer­dt­fe­ger advi­sed Main Capi­tal first on the acqui­si­tion of Wanko Infor­ma­ti­ons­lo­gis­tik GmbH and subse­quently on the acqui­si­tion of FleetGO Group.

Wanko Infor­ma­ti­ons­lo­gis­tik is a logistics soft­ware part­ner for route plan­ning, wareh­ouse manage­ment and tele­ma­tics, foun­ded in 1972. FleetGO provi­des modern tele­ma­tics solu­ti­ons for compa­nies. Foun­ded in 2010, the company main­tains offices in Düssel­dorf and Istan­bul in addi­tion to its head­quar­ters in Hattem, the Nether­lands. Both compa­nies have a substan­tial and well-estab­lis­hed track record as market leaders in their respec­tive sectors. They both focus on the supply chain soft­ware market in Germany and the Nether­lands respectively.

Main Capi­tal Part­ners is a stra­te­gic inves­tor focu­sed on enter­prise soft­ware in Bene­lux, DACH and Scan­di­na­via. The company mana­ges assets of around 2.2 billion euros.

The McDer­mott team led by part­ners Norman Wasse and Dustin Schwer­dt­fe­ger, which is parti­cu­larly expe­ri­en­ced with soft­ware and tech tran­sac­tions, has already advi­sed Main Capi­tal on various tran­sac­tions and finan­cings, most recently on the acqui­si­tion and finan­cing of Form­So­lu­ti­ons and Data­Plan by mach­gruppe, Audimex by Swedish port­fo­lio company Blika Solu­ti­ons, and Crypt­share AG by its port­fo­lio company Point­s­harp. Just recently, the team also advi­sed on the dual tran­sac­tion to acquire Plato and IQS.

Advi­sors to Main Capi­tal Part­ners: McDer­mott Will & Emery, Frankfurt
Norman Wasse, LL.M. (Lead, Corporate/M&A), Dustin Schwer­dt­fe­ger (Finan­cing, Düssel­dorf), Dr. Gudrun Germa­kow­ski (Labor Law, Düssel­dorf), Dr. Johan­nes Honzen (Real Estate Law), Dr. Chris­tian L. Masch (IT/IP, Munich), Marcus Fischer (Coun­sel, Tax Law); Asso­cia­tes: Dr. Marion von Grön­heim, Lisa Schick­ling (Wanko tran­sac­tion only), Isabelle Suzanne Müller (all Corporate/M&A), Lukas Deutz­mann (Labor Law, Cologne/Düsseldorf), Fran­ziska Leub­ner (Labor Law, Munich — Wanko tran­sac­tion only), Isabella Kätzlmeier (IT/IP, Munich), Hannah Hense­ling (Real Estate Law), Markus Hunken­schrö­der (Finan­cing, Düssel­dorf), Johanna Grei­ßel (Tax Law — FleetGO tran­sac­tion only), Feli­ci­tas Faber (Liti­ga­tion, Munich — FleetGO tran­sac­tion only), Doro­thea Zimny (Public Law, Düssel­dorf — FleetGO tran­sac­tion only)

Addi­tio­nally invol­ved in the FleetGO tran­sac­tion were: McDer­mott Will & Emery, London/Brussels
Calum Thom, Linda Zeman (both Lead, Corporate/M&A), Gary Howes (Coun­sel, Life Scien­ces), Paul McGrath (Employ­ment; all London), Hendrik Viaene (Anti­trust and Compe­ti­tion, Brussels); Asso­cia­tes: Chris Marshall, Rosie Mist, Emmy Clode (all Corporate/M&A), Char­lotte Moor­house (Employ­ment), Sanjeet Johal (Real Estate), Sarah Gabbai (Tax; all London), Hanne­lore Wiame (Anti­trust and Compe­ti­tion, Brussels)

HSA Lawy­ers: Gert-Jan van Dalen, Eva Roelandt (Dutch law)

About McDer­mott Will & Emery

McDer­mott Will & Emery is a leading inter­na­tio­nal law firm with more than 1,200 lawy­ers in more than 20 offices in Europe, North America and Asia. Our lawy­ers cover the entire spec­trum of commer­cial and corpo­rate law with their advice. The German prac­tice is mana­ged by McDer­mott Will & Emery Rechts­an­wälte Steu­er­be­ra­ter LLP. For more infor­ma­tion, please visit: https://www.mwe.com/de/

 

Deloitte advises sale of hit label Telamo to BMG

Berlin — On August 2, 2022, the share­hol­ders of Telamo Musik & Unter­hal­tung GmbH (“Telamo”) signed an agree­ment for the sale and assign­ment of all shares in Telamo to BMG Rights Manage­ment GmbH (“BMG”). The tran­sac­tion, which is still subject to appro­val by the Austrian Federal Compe­ti­tion Autho­rity, will create one of Germany’s largest label divi­si­ons across genres, accord­ing to the parties involved.

Telamo co-foun­der Ken Otremba says, “Since incep­tion, our goal has been to create the opti­mal and most modern condi­ti­ons for our artist:ing. We are proud and exci­ted to now offer a new chap­ter with the best set-up. Telamo conti­nues all previous part­ners­hips, now offe­ring access to more new worlds — domesti­cally and internationally.”

A multi­di­sci­pli­nary team of Deloitte and Deloitte Legal advi­sed the majo­rity share­hol­der of Telamo, artcom-Gesell­schaft für Kommu­ni­ka­tion mbH (“artcom”), compre­hen­si­vely in the areas of finan­cial valua­tion, in all legal (partly also tax law) issues of the tran­sac­tion and was able to provide effi­ci­ent advice from a single source through cross-divi­sio­nal cooperation.
Marko Wünsch, sole share­hol­der of artcom says: “We have been working with Deloitte in a trus­ting manner for many years. At all times, we have not only recei­ved first-class advice, but also prepa­ra­tion and support.”

About artcom

artcom is the parent company of a German group of compa­nies that inclu­des Shop24Direct, a retailer specia­li­zing in Schlager.

About BMG

BMG, a Bertels­mann company, is the fourth largest music company in the world, the first new global player in the music busi­ness of the strea­ming age, and a record label and music publis­her in one. With 19 offices in 12 core music markets, BMG repres­ents more than three million titles and record­ings, inclu­ding many of the most renow­ned and success­ful artists, song­wri­ters and music catalogs.

About Telamo

Since its foun­ding in August 2012, Telamo has attrac­ted top-class estab­lis­hed artists and disco­ve­red and deve­lo­ped promi­sing talents. The focus of the publi­ca­ti­ons is the Schlager/MOR in all its facets — natio­nal and inter­na­tio­nal. Accord­ing to GfK-Enter­tain­ment, Munich-based Telamo was the most success­ful and highest-selling indie and pop label in 2021 for the fourth year in a row. Eight of the top 25 German Schlager/Deutschpop artists are under contract with Telamo. The label’s artists:inside include Giovanni Zarrella, Eloy de Jong, Mari­anne Rosen­berg, Ross Antony, Die Amigos, Thomas Anders and Florian Silbe­rei­sen, Daniela Alfi­nito and Fantasy.

Advi­sor TELEAMO: Deloitte Legal
Dr. Julia Peter­sen, Photo (Lead Corpo­rate M&A, Berlin), Dr. Moritz Erkel (Corporate/ M&A, Berlin)
Deloitte: Stef­fen Säuber­lich (Lead Part­ner Finan­cial Advi­sory, Berlin), Stef­fen Meier (Finan­cial Advi­sory, Berlin), Olga Metcher (Tax, Düsseldorf)
BMG: Stefa­nie Briefs (Senior Legal Coun­sel, Labor Law), Dr. Martin Dann­hoff (SVP Corpo­rate Legal, Corpo­rate M&A), André Schley (SVP Tax Germany, Taxes), Johan­nes Borg­dorf (Direc­tor, Center of Exper­tise, Finance), all Bertels­mann SE & Co. KGaA, Gütersloh

Winfried Carli, Partner at Sherman Sterling

Hundt family and Allgaier Werke transfer majority stake to Westron Group

Uhingen/ Munich — Shear­man & Ster­ling advi­sed Allgaier Group on finan­cing law in connec­tion with the trans­fer of a majo­rity stake to West­ron Group and a compre­hen­sive rest­ruc­tu­ring of its finan­cial liabilities.

With this tran­sac­tion, the Hundt family of share­hol­ders and Allgaier Werke GmbH trans­fer 88.9 percent of their busi­ness shares to the West­ron Group. In connec­tion with the tran­sac­tion, the West­ron Group contri­bu­ted addi­tio­nal equity to Allgaier Werke GmbH, thus streng­t­he­ning the finan­cial stabi­lity of the Allgaier Group.

The Allgaier Group is a system supplier for the inter­na­tio­nal auto­mo­tive indus­try as well as a deve­lo­per of stan­dar­di­zed and indi­vi­dual solu­ti­ons for the process engi­nee­ring indus­try based in Uhin­gen, Baden-Würt­tem­berg. The company employs 1,700 people.

West­ron Group is an indus­trial company whose invest­ment divi­sion focu­ses on the auto­mo­tive and tech­no­logy sectors.

The team led by part­ner Winfried M. Carli last advi­sed Allgaier Group 2021 on a compre­hen­sive restructuring.

Advi­sors to Allgaier Group: Shear­man & Sterling
The Shear­man & Ster­ling team inclu­ded part­ner Winfried M. Carli and asso­ciate Nils Holzg­refe (both Munich Finance).

About Shear­man & Sterling

Shear­man & Ster­ling is an inter­na­tio­nal law firm with 25 offices in 13 coun­tries and appro­xi­mately 850 lawy­ers. In Germany, Shear­man & Ster­ling has offices in Frank­furt and Munich. The firm is one of the inter­na­tio­nal market leaders in advi­sing on complex cross-border tran­sac­tions. World­wide, Shear­man & Ster­ling prima­rily advi­ses inter­na­tio­nal corpo­ra­ti­ons and large natio­nal compa­nies, finan­cial insti­tu­ti­ons, and large mid-sized compa­nies. www.shearman.com.

AUCTUS acquires laboratory equipment specialist a1-envirosciences

Munich — The private equity inves­tor AUCTUS has acqui­red the a1-envi­ro­sci­en­ces Group, which inclu­des a1-envi­ro­sci­en­ces GmbH of Düssel­dorf and a1-envi­ro­sci­en­ces Ltd. of Warring­ton (UK). The seller was the British company Diploma plc. AUCTUS acqui­res a1 Group to support its conti­nued orga­nic growth by, among other things, adding new product lines and ente­ring addi­tio­nal geogra­phic areas. In addi­tion, growth is also to be acce­le­ra­ted through acqui­si­ti­ons of further labo­ra­tory supply specia­lists by way of a Europe-wide buy-and-build concept.

a1-envi­ro­sci­en­ces is a respec­ted specia­list in medi­cal testing and analy­sis tech­no­logy, as well as quaran­tine tech­no­logy for medi­cal labo­ra­to­ries. a1 has loca­ti­ons in Germany, Great Britain, France, Belgium and the Nether­lands. In this context, a1’s busi­ness model inclu­des consul­ting, sales, user trai­ning and main­ten­ance of sold systems in order to provide a compre­hen­sive service.

AUCTUS is a Munich-based invest­ment company. With a fund capi­tal under manage­ment of more than EUR 800 million and curr­ently 47 plat­form compa­nies from various indus­tries, AUCTUS is one of the leading inves­tors in the German small- and mid-cap sector. The port­fo­lio curr­ently contains 47 plat­form compa­nies from various indus­tries in and outside Europe.

Diploma plc is an inter­na­tio­nally active group of compa­nies with a focus on the life scien­ces, seals and controls sectors.

Advi­sors to AUCTUS Capi­tal Part­ners AG: Heuking Kühn Lüer Wojtek:

Boris Dürr (Lead Part­ner, Corpo­rate Law / M&A), Munich
Marcel Greu­bel (Corpo­rate Law, M&A), Munich
Peter Michael Schäff­ler (Tax Law), Munich
Chris­tian Schild (Corpo­rate Law, M&A), Munich
Andreas Schruff (Corpo­rate Law, M&A), Munich
Dr. Markus Rabe (Banking & Finance), Munich
Dr. Henrik Lay (Tax Law), Hamburg
Dr. Sarah Slavik-Schulz (Tax Law), Hamburg
Sandra Pfis­ter (Banking & Finance), Hamburg
Andreas Wiencke (Banking & Finance), Frankfurt

Advi­sor Diploma plc: Simmons & Simmons

Dr Stephan Ulrich (Lead/Client Part­ner, Corporate/M&A, Dusseldorf)
Slaven Kova­ce­vic (Lead/Counsel, Private Equity/M&A, Dusseldorf)
Sabine Krause (Super­vi­sing Asso­ciate, Private Equity/M&A, Dusseldorf)
Sam Bert­ling (Asso­ciate, Corporate/M&A, Dusseldorf)
Dr Bernulph von Crails­heim (Part­ner, Tax, Frankfurt)
Elmar Wein­and (Coun­sel, Tax, Frankfurt)
Dr Jens Gölz (Part­ner, Finan­cial Markets, Frankfurt)
Peter Louzen­sky (Super­vi­sing Asso­ciate, Finan­cial Markets, Munich)
Dr Martin Gramsch (Coun­sel, Anti­trust, Munich)
Edward Baker (Part­ner, Private Equity/M&A UK, London)
Char­lotte Moor­house (Asso­ciate, Private Equity/M&A UK, London)

SoftBank acquires stake in IoT services provider 1NCE

Düssel­dorf / Colo­gne — Japan’s Soft­Bank Corp. has taken a signi­fi­cant stake in Colo­gne-based IoT service provi­der 1NCE GmbH. The compa­nies simul­ta­ne­ously signed an exclu­sive distri­bu­tion agree­ment for the Asia-Paci­fic (APAC) region. Soft­Bank will exclu­si­vely distri­bute 1NCE in 19 markets in the APAC region, inclu­ding Austra­lia, Japan, Malay­sia and Sing­a­pore. 1NCE will also open sales and tech­ni­cal offices in Sing­a­pore and Tokyo.

Soft­Bank Corp., head­quar­te­red in Tokyo, is a leading Japa­nese provi­der of telecom­mu­ni­ca­ti­ons and infor­ma­tion tech­no­lo­gies. In fiscal 2021/2022, Soft­Bank posted sales of 5.7 tril­lion yen.

Foun­ded in 2017 by Alex­an­der P. Sator and Deut­sche Tele­kom AG, 1NCE, head­quar­te­red in Colo­gne, Germany, specia­li­zes in IoT connec­ti­vity via a flat rate and offers mobile connec­ti­vity and soft­ware services in coope­ra­tion with network opera­tors in more than 110 coun­tries to date.

The Herbert Smith Free­hills team led by Dr. Sönke Becker recently advi­sed Soft­Bank Robo­tics Group Corp. on the sale of its French subsi­diary to United Robo­tics Group.

Advi­sors to Soft­Bank Corp.: Herbert Smith Free­hills, Düsseldorf
Dr. Sönke Becker (Lead), Lena von Richt­ho­fen (Coun­sel, both Corpo­rate), Dr. Marius Boewe (Regu­la­tory), Moritz Kunz (Labor Law, Frank­furt), Dr. Marcel Nuys (Anti­trust), Joseph Fisher (Corpo­rate, Tokyo); Asso­cia­tes: Marjel Dema, Dr. Niko­laus Moench, Janis Rentrop (all Corpo­rate), Kris­tin Kattwin­kel (Regu­la­tory), Dr. Simone Zieg­ler (Labor Law, Frank­furt), Juliana Penz-Evren (Anti­trust, Brussels), Naoko Adachi (Tokyo), Jarry Tay (Kuala Lumpur, both Corporate)

Oakley Capital and co-shareholders sell Contabo to KKR

Munich — Oakley Capi­tal Fund IV and other co-share­hol­ders have sold their shares in Cont­abo to KKR. Cont­abo is a fast-growing cloud infra­st­ruc­ture and hosting provi­der based in Munich, Germany, offe­ring simple, easy-to-use cloud services to small busi­nes­ses, deve­lo­pers, prosumers and gamers. With a global network of 24 data centers on four conti­nents, Cont­abo serves a diverse mix of more than 250,000 custo­mers across a wide range of indus­tries. Kirk­land & Ellis advi­sed Oakley Capi­tal Fund IV and other co-share­hol­ders on the sale of Cont­abo to KKR.

The exit will gene­rate a gross return in excess of 10x MM and over 100% IRR to Fund IV. As part of the tran­sac­tion, Oakley Capi­tal Fund V (“Fund V”) will acquire a mino­rity stake in Cont­abo along­side majo­rity inves­tor KKR, to bene­fit from the anti­ci­pa­ted future growth of the busi­ness. t

Advi­sors to Oakley Capi­tal Fund IV and other co-share­hol­ders: Kirk­land & Ellis, Munich

Dr. Benja­min Leyen­de­cker (photo), Dr. David Huth­ma­cher, Dr. Chris­toph Jerger (all lead, all Private Equity/M&A), Dr. Anna Schwan­der (Corpo­rate), Dr. Thomas S. Wilson (Anti­trust & Compe­ti­tion, Brussels); Asso­cia­tes: Dr. Thomas Diek­mann, Dr. Marcus Comman­deur, Lukas Fell­höl­ter, Juliane Hubert, Dr. Tamara Zehent­bauer (all Private Equity/M&A)

Advi­sors to Oakley Capi­tal Fund V: Kirk­land & Ellis, London

Jacob Traff, David Higgins (both lead); Asso­ciate: Kars­ten Silber­na­gel (all Private Equity/M&A)

About Kirk­land & Ellis
With more than 3,000 lawy­ers in 19 offices world­wide, Kirk­land & Ellis is one of the leading inter­na­tio­nal commer­cial law firms. The Munich team provi­des focu­sed advice in the areas of private equity, M&A, corpo­rate, capi­tal markets, rest­ruc­tu­ring, finan­cing and tax law.

Dr. Benjamin Ullrich YPOG

YPOG advises Consumer Edge on the acquisition of Qentnis

Colo­gne, Germany, June 09, 2022 — Data insight company Consu­mer Edge has acqui­red Qent­nis GmbH. As a result, the two compa­nies now operate jointly in the USA and Europe, two of the world’s most important consu­mer markets.

Consu­mer Edge is a leading data analy­tics company focu­sed on the inter­na­tio­nal consu­mer market, based in New York, USA. The acqui­si­tion of the Berlin-based startup is Consu­mer Edge’s response to the growing demand for accu­rate, always-on consu­mer spen­ding data and expands its compre­hen­sive offe­ring of multi­na­tio­nal, consu­mer-focu­sed alter­na­tive data and rese­arch solu­ti­ons to the pan-Euro­pean market.

About Consu­mer Edge

Foun­ded in 2009 by CEO Bill Peco­ri­ello, Consu­mer Edge is a data analy­tics solu­ti­ons provi­der focu­sed on the global consu­mer market. They provide key play­ers in the invest­ment and busi­ness land­s­cape with best-in-class alter­na­tive data products and tools to enable advan­ced stra­te­gic decision making. Consu­mer Edge’s suite of products, consis­ting of data feeds, templa­tes, and visua­liz­a­tion plat­forms, provi­des opti­mal insight into consu­mer beha­vior by linking nume­rous privacy-compli­ant data types across geogra­phies. This allows for action­able insights that are suppor­ted by the near real-time market intel­li­gence and bench­mar­king capa­bi­li­ties avail­able at the retailer, brand and item levels. https://consumer-edge.com

About Qent­nis GmbH

Qent­nis is a German, Berlin-based data company that provi­des unique insights for insti­tu­tio­nal inves­tors and corpo­ra­ti­ons. Qent­nis’ core busi­ness is the collec­tion, proces­sing, allo­ca­tion and aggre­ga­tion of anony­mi­zed tran­sac­tion data. The offer is aimed at insti­tu­tio­nal inves­tors, the private equity sector and compa­nies that want to learn more about market and company trends in order to form and vali­date invest­ment hypo­the­ses. Qent­nis was foun­ded in 2019 by Bene­dikt Ernst and Simon Kröger with IONIQ Group as the main inves­tor. https://www.qentnis.com

Advisor:inside Consu­mer Edge: YPOG
Dr. Benja­min Ullrich, Photo (Co-Lead, Tran­sac­tions), Partner
Dr. Johan­nes Janning (Co-Lead, Tran­sac­tions), Asso­cia­ted Partner
Jona­than Görg (Tran­sac­tions), Associate
Dr. Bene­dikt Flöter (IP/IT), Asso­cia­ted Partner
Anna Eick­meier (IP/IT, Data Protec­tion), Senior Associate
Stefan Rich­ter (Tax), Partner
Ann-Kris­tin Loch­mann (Tax), Asso­cia­ted Partner
Dr. Chris­toph Lütten­berg (Corpo­rate), Associate

The YPOG team worked closely with a team from Lowen­stein Sand­ler, led by Alex D. Leibo­witz, on U.S. legal matters and part­ne­red with boutique law firms Push Wahlig Work­place Law on employ­ment law matters, and KNPZ Attor­neys at Law on busi­ness law matters.

About YPOG
YPOG is a specia­list tax and commer­cial law firm opera­ting in the core areas of Corpo­rate, Funds, Liti­ga­tion, Tax, Tran­sac­tions, IP/IT, Notary Services, Banking + Finan­cial Services and FinTech + Block­chain. The YPOG team advi­ses a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. YPOG is one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners are natio­nally and inter­na­tio­nally ranked by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, YPOG employs more than 90 expe­ri­en­ced lawy­ers, tax advi­sors, tax specia­lists and a notary in three offices in Berlin, Hamburg and Colo­gne. www.ypog.law as well as www.linkedin.com/company/ypog.

Exit for DPE: Telefónica Tech acquires BE-terna for up to EUR 350m.

Madrid/ Munich — Tele­fó­nica Tech has acqui­red BE-terna, a leading Euro­pean provi­der of Micro­soft cloud solu­ti­ons for cloud-based indus­trial appli­ca­ti­ons, for up to €350 million (inclu­ding poten­tial profit sharing). The acqui­si­tion posi­ti­ons Tele­fó­nica Tech as one of the leading Euro­pean provi­ders of Micro­soft solu­ti­ons and secu­res its presence in Germany, Austria, Switz­er­land, the Adria­tic and Scan­di­na­via. — Gütt Olk Feld­haus advi­sed DPE Deut­sche Private Equity and other co-inves­tors on the sale of BE-terna Group to Tele­fó­nica Tech. The closing of the tran­sac­tion is subject to anti­trust clearance.

Tele­fó­nica Tech will acquire 100 percent of the shares of BE-terna Group from Deut­sche Private Equity and other mino­rity share­hol­ders. The tran­sac­tion is subject to a valua­tion of BE-terna at 13.7 times gross opera­ting income (EV/OIBDA), taking into account syner­gies and expec­ted 2022 results. BE-terna gene­ra­ted pro forma sales of €121 million in 2021, showing a year-on-year growth rate of 30 percent. The tran­sac­tion will be comple­ted in the coming weeks following clearance by the German compe­ti­tion authorities.

BE-terna was foun­ded in 2005 and has a highly quali­fied team of more than 1,000 employees at 28 loca­ti­ons, inclu­ding Germany, Austria, Switz­er­land, the Adria­tic and Scan­di­na­via. As one of the five largest cloud Micro­soft Dyna­mics part­ners in Europe, BE-terna specia­li­zes in driving digi­tal trans­for­ma­tion prima­rily based on Micro­soft solu­ti­ons, but also works with Infor, UI Path and Qlik to opti­mize busi­ness proces­ses for diffe­rent industries.

The acqui­si­tion expands Tele­fó­nica Tech’s geogra­phic reach and profes­sio­nal and mana­ged services capa­bi­li­ties across Europe and under­li­nes its ambi­tion to become a leading provi­der of tech­ni­cal services in Europe. The acqui­si­tion of BE-terna once again demons­tra­tes Tele­fó­nica Tech’s growth story, with reve­nues approa­ching the 1 billion euro mark at the end of 2021 and growing by 33.6 percent year-on-year.

Advi­sor to Tele­fó­nica Tech: Clif­ford Chance
Lead part­ner Stefan Bruder, photo © Clif­ford Chance (Frank­furt) and Simon Schmid (Düssel­dorf, both Corporate/M&A).

Inhouse at Tele­fó­nica, Diego Colchero Paetz (Gene­ral Coun­sel Tele­fó­nica Tech) and Miguel Basterra Marti­nez de San Vicente (Direc­tor Legal M&A Tele­fó­nica) led the tran­sac­tion team.

Legal advi­sors to DPE Deut­sche Private Equity: Gütt Olk Feld­haus, Munich
Dr. Kilian Helm­reich (Part­ner, M&A/Private Equity, Lead), Isabelle Vrancken (Senior Asso­ciate), Karl Ehren­berg (Senior Asso­ciate), Dr. Domi­nik Forst­ner (Asso­ciate, all Corporate/M&A)

About Gütt Olk Feldhaus

Gütt Olk Feld­haus is a leading inter­na­tio­nal law firm based in Munich. We provide compre­hen­sive advice on commer­cial and corpo­rate law. Our focus is on corpo­rate law, M&A, private equity and finan­cing. In these specia­list areas we also take on the litigation.

About Clif­ford Chance

Clif­ford Chance, one of the world’s leading law firms, is present for its clients with around 3,400 legal advi­sors in all major busi­ness centers around the world.
In Germany, Clif­ford Chance is repre­sen­ted by around 300 lawy­ers, audi­tors, tax advi­sors and soli­ci­tors in Düssel­dorf, Frank­furt am Main and Munich.

ISOVOLTA AG acquires “Aerospace” from Gurit Holding

Kassel — The globally active ISOVOLTA Group has acqui­red Gurit (Kassel) GmbH from Gurit Holding. Heuking Kühn Lüer Wojtek advi­sed ISOVOLTA Group on the acqui­si­tion of all shares in Gurit (Kassel) GmbH from Gurit Holding AG.

With around 1,500 employees, the globally active ISOVOLTA Group is a specia­list for electri­cal insu­la­tion mate­ri­als, tech­ni­cal lami­na­tes and compo­si­tes and a part­ner for more than 20 indus­tries. One important area is avia­tion, where light­weight mate­ri­als for aircraft cabin inte­riors are produ­ced in Wiener Neudorf/AT and in Harrisburg/USA. The ISOVOLTA Group has now acqui­red the “Aero­space” busi­ness unit of the Swiss listed company Gurit Holding AG, based in Kassel, Germany, with 80 employees, Gurit (Kassel) GmbH. The parties have agreed not to disc­lose the purchase price.

The ISOVOLTA Group is part of Constan­tia Indus­tries AG and has been a leading inter­na­tio­nal manu­fac­tu­rer of electri­cal insu­la­tion mate­ri­als, tech­ni­cal lami­na­tes and compo­site mate­ri­als for over 70 years. The company employs over 1,500 people at nume­rous produc­tion and sales loca­ti­ons in various coun­tries (inclu­ding Austria, Europe, China, North America) on three conti­nents. ISOVOLTA products are used in more than 20 indus­tries, from elec­tro­nics and e‑mobility to aero­space and mecha­ni­cal engi­nee­ring. In Austria, the company employs around 370 people in Wiener Neudorf and Wern­dorf near Graz.

The subsi­dia­ries of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Exchange: GUR) specia­lize in the deve­lo­p­ment and manu­fac­ture of advan­ced compo­si­tes, compo­si­tes manu­fac­tu­ring equip­ment and core kitting services. The product range inclu­des struc­tu­ral core mate­ri­als, fiber-rein­for­ced prep­regs, formu­la­ted products such as adhe­si­ves, resins, and struc­tu­ral compo­site tech­no­logy. Gurit supplies global growth markets such as the wind turbine indus­try, aero­space, marine, rail and many more. Gurit opera­tes manu­fac­tu­ring faci­li­ties and offices in Austra­lia, Canada, China, Denmark, Ecua­dor, Germany, India, Italy, Mexico, New Zealand, Poland, Spain, Switz­er­land, Turkey, the United King­dom and the United States.

Legal advi­sors to ISOVOLTA AG: Heuking Kühn Lüer Wojtek:
Dr. Mathias Schrö­der, LL.M.,
Fabian Becker, LL.M.,
Peter M. Schäff­ler (all corpo­rate law, M&A), all Munich
Kers­tin Deiters, LL.M., EMBA,
Prof. Dr. Martin Reufels (both Labor Law), both Cologne
Dr. Thomas Jansen (IP/IT and Data Protection),
Bettina Nehei­der (Public Law),
Dr. Leonie Schwarz­meier, LL.M. (Tenancy Law),
Dr. Ruth Schnei­der (Compe­ti­tion and Distri­bu­tion Law), all Munich
Bodo Dehne (Foreign Trade Law), Düsseldorf

Proventis supports sale of German tsd to Spanish SeproTec

Munich — Sepro­Tec Multi­lin­gual Solu­ti­ons has acqui­red 100% of the shares in tsd Tech­nik-Spra­chen­dienst GmbH from Dina Frei­bott (photo), who has deve­lo­ped the company over the past 30 years into one of the world’s 30 leading language service provi­ders based in Germany. Domi­ni­que Puls and Stefan Puls as tsd manage­ment team will keep their roles in the company as mana­ging direc­tors and will be part of the future setup of SeproTec.

Proven­tis Part­ners exclu­si­vely advi­sed tsd Tech­nik-Spra­chen­dienst GmbH, Cologne/Germany, on the sale to Sepro­Tec Multi­lin­gual Solu­ti­ons, Madrid/Spain.

McDer­mott Will & Emery advi­sed the share­hol­der of tsd Tech­nik-Spra­chen­dienst GmbH on the sale of the company to Sepro­Tec Multi­lin­gual Solu­ti­ons of Spain.

The role of Proven­tis Partners

Proven­tis Part­ners acted as exclu­sive M&A advi­sor to the share­hol­der, Dina Frei­bott (photo) and her manage­ment team, consis­ting of Domi­ni­que and Stefan Puls, on the sale of tsd. The consul­ting services inclu­ded the selec­tion of poten­tial buyers, discus­sions and nego­tia­ti­ons with the buyer, the coor­di­na­tion of the due dili­gence as well as the struc­tu­ring and nego­tia­tion of the econo­mic terms of the execu­ted share deal. The tran­sac­tion team of Proven­tis Part­ners consis­ted of Rainer Wieser (Part­ner, Munich), and Andreas König (Direc­tor, Munich).

The LSP market

Accord­ing to an analy­sis of the LSP market conduc­ted by Proven­tis Part­ners, the indus­try is facing a surge in supply as consu­mer demand for faster, more acces­si­ble media and other types of loca­liz­a­tion services incre­a­ses. There are six tech­no­logy trends: machine trans­la­tion (MT), auto­ma­ted work­flows (AW), auto­ma­ted quality assurance (AQA), trans­la­tion memory ™, trans­la­tion manage­ment systems (TMS), and arti­fi­cial intel­li­gence (AI)-based systems. There are two main reasons for this: decre­a­sing profit margins and the need for faster turnaround of trans­la­tion projects. Tech­no­logy enab­les a variety of tools and services that can incre­ase opera­tio­nal effi­ci­en­cies to coun­ter­act the conti­nual price erosion in the market­place, largely due to the proli­fe­ra­tion of strea­ming services and the incre­a­sing volume and speed at which audio, visual and textual content is consu­med in multi­ple languages around the globe.

Tran­sac­tion analy­ses of the last three years unders­core these trends: In 71 mergers and acqui­si­ti­ons and private place­ments, the total volume of language tech­no­logy tran­sac­tions amoun­ted to EUR 1.2 billion. Cross-border acti­vity in the sector remains strong, with 41% inter­na­tio­nal invest­ment from 24 buyer nati­ons in 22 target coun­tries. Most tran­sac­tions were made in the USA, China, Japan and Israel. Nearly two-thirds of all tran­sac­tions in the language tech­no­logy sector are private place­ments, with the rema­in­der being mergers and acqui­si­ti­ons, ranging from the largest deals of around EUR 800 million to smal­ler invest­ment rounds of EUR 10,000.

About Sepro­Tec

Sepro­Tec Multi­lin­gual Solu­ti­ons is a multi­lin­gual service provi­der ranked among the top 30 language service provi­ders in the world. Sepro­Tec, foun­ded in 1989, is one of the world’s largest provi­ders of trans­la­tion and inter­pre­ting services and has been part of the port­fo­lio of Spanish private equity inves­tor Nazca Capi­tal since fall 2021. The acqui­si­tion of TSD marks the company’s entry into the German market.

About tsd
Foun­ded in 1978 and head­quar­te­red in Colo­gne, Germany, tsd Tech­nik-Spra­chen­dienst GmbH has been success­fully opera­ting in the trans­la­tion and loca­liz­a­tion indus­try for over 45 years. With perso­nal and compre­hen­sive services, tsd has become an estab­lis­hed and expe­ri­en­ced provi­der of a wide range of language services in Germany and worldwide.

tsd pursues a holistic service approach that goes beyond the stan­dards of a clas­sic trans­la­tion agency. The company’s core compe­ten­cies are multi­lin­gual projects: Trans­la­tion, review, vali­da­tion, termi­no­logy, MT solu­ti­ons, post-edit­ing, tran­screa­tion, language consul­ting. Inno­va­tive and effi­ci­ent proces­ses in areas such as quality assurance (DIN ISO 900, ISO 17100 and ISO 18587, ISO 27001) and tech­no­logy charac­te­rize the working methods of tsd. In parti­cu­lar, the in-house team of lingu­ists enab­les tsd to cover complex custo­mer requests, respond quickly and flexi­bly, and provide high quality services. A close and trans­pa­rent custo­mer rela­ti­ons­hip, coupled with custo­mi­zed, effi­ci­ent proces­ses, is part of tsd’s self-image. www.tsd-int.com

Advi­sor to the share­hol­der of tsd Diana Frei­bott: McDer­mott Will & Emery 
Dr. Niko­laus von Jacobs (Corporate/M&A, lead), Nina Siewert, Marcus Fischer (Coun­sel; both Tax Law, both Frank­furt), Dr. Phil­ipp Schäuble (Labor Law); Asso­cia­tes: Matthias Wein­gut, Dr. Robert Feind, LL.M., Dr. Fabian Appa­doo, Sebas­tian Gerst­ner (all Corporate/M&A)

About Proven­tis Partners

Proven­tis Part­ners is a part­ner-led M&A advi­sory firm whose clients include a majo­rity of mid-sized family busi­nes­ses, corpo­rate subsi­dia­ries and private equity funds. With more than 30 M&A advi­sors, Proven­tis Part­ners is one of the largest inde­pen­dent M&A consul­tancies in the German-spea­king region and looks back on more than 20 years of M&A expe­ri­ence and well over 300 comple­ted tran­sac­tions. The M&A consul­tants with offices in Düssel­dorf, Hamburg, Munich and Zurich are active in the sectors Indus­tri­als & Chemi­cals, Busi­ness Services, Consu­mer & Retail, TMT, Health­Care and Energy & Sustaina­bi­lity. Exclu­sive members­hip in Mergers Alli­ance — an inter­na­tio­nal part­ners­hip of leading M&A specia­lists — enab­les Proven­tis Part­ners to assist clients in 30 coun­tries in key markets world­wide. The members of the Mergers Alli­ance, with its more than 200 M&A profes­sio­nals, provide Proven­tis Part­ners and thus its clients with unique access to local markets in Europe, North America, Latin America, Asia and Africa.

Stock market debut for About You: Otto Group subsidiary valued at € 3.9 billion

Hamburg/ Frank­furt a. M. — About You cele­bra­tes its debut on the Frank­furt Stock Exchange today, Wednes­day, June 16. The offer price for the private place­ment is set at 23.00 euros per share. CEO Tarek Müller holds a share of 4.3 percent, Sebas­tian Betz 3.7 percent and Hannes Wiese 2.7 percent.

The offer price for the private place­ment is 23.00 euros per share. The Otto Group subsi­diary is thus valued at 3.9 billion euros.

Accord­ing to Textil­wirt­schaft, the foun­ders hold the following shares: Tarek Müller has a share of 4.3 percent, Sebas­tian Betz 3.7 percent. Hannes Wiese has 2.7 percent. Howe­ver, the trio intends to sell just under 3.3 million shares, which will bring them a total of 76 million euros. After the private place­ment, Müller, Betz and Wiese will have stakes of 3.0 percent, 2.6 percent and 1.7 percent respectively.

Net, 627 million euros remain. — In addi­tion, from the holdings of the exis­ting owners GFH (Gesell­schaft für Handels­be­tei­li­gun­gen mbH), Seven­Ven­tures GmbH, GMPVC German Media Pool GmbH and Fashion Media Pool GmbH, up to 4.8 million ordi­nary bearer shares will be gran­ted as an option to cover over-allot­ments (green­shoe option).

The IPO will gene­rate gross proceeds of 657 million euros for About You. Net, 627 million euros remain. The company plans to spend 150 million euros on inter­na­tio­nal expan­sion, 115 million euros on tech­no­lo­gi­cal infra­st­ruc­ture and 50 million euros on the further deve­lo­p­ment of its B2B tech­no­logy divi­sion. 80 million euros is to be used to repay share­hol­der loans. About You is also consi­de­ring acqui­si­ti­ons. 80 million euros is reco­gni­zed as a reserve for M&A transactions.

Tarek Müller, Co-Foun­der and Board Member Marke­ting & Brand: “Today is a great day for About You. Toge­ther with some of the world’s most renow­ned brands and compa­nies, we are now part of the exchange family. Today we cele­brate the success­ful listing of About You, but our focus is already fully on the future.”

In addi­tion to Deut­sche Bank, Gold­man Sachs and JPMor­gan , Numis Secu­ri­ties, Société Géné­rale and UBS also suppor­ted the IPO.

Sales development

Benko’s SIGNA Sports United merges with US SPAC Yucaipa Acquisition Corporation

Frank­furt a.M. — McDer­mott Will & Emery advi­sed SIGNA Sports United GmbH (SSU) in connec­tion with its merger with Yucaipa Acqui­si­tion Corpo­ra­tion (YAC), a publicly traded special purpose acqui­si­tion company (SPAC). The merger also inclu­des the acqui­si­tion of the British online bicy­cle retailer Wiggle/CRC Group.

In the course of this so-called De-SPAC tran­sac­tion, the group struc­ture of SSU will be funda­ment­ally chan­ged. Upon comple­tion of the tran­sac­tion, SSU’s shares will be traded on the NYSE; SSU, as well as the publicly traded TopCo, will have their corpo­rate head­quar­ters in Berlin.

A McDer­mott team led by Dr. Kian Kauser and Sebas­tian Bonk advi­sed SIGNA Sports United GmbH and its majo­rity share­hol­der SIGNA Inter­na­tio­nal Sports Holding GmbH on the corpo­rate and tax struc­tu­ring of the group as well as on the acqui­si­tion of Wiggle/CRC Group.

The tran­sac­tion unders­cores McDer­mott Will & Emery’s strong posi­tion in provi­ding corpo­rate and tax advice on complex cross-border transactions.

Advi­sors to SIGNA Sports United GmbH and SIGNA Inter­na­tio­nal Sports Holding GmbH: McDer­mott Will & Emery, Düsseldorf/Frankfurt
Dr. Kian Tauser (Tax Law, Frank­furt), Sebas­tian Bonk (Asso­ciate, Corporate/M&A, Düssel­dorf; both Lead), Dr. Matthias Kamps­hoff, Dr. Phil­ipp Gren­ze­bach (both Corporate/M&A, Düssel­dorf), Dr. Heiko Kermer (Tax Law, Frank­furt), Elea­nor West (Corporate/M&A, London), Dr. Jan Hückel (Corporate/M&A, Düssel­dorf; both for take­over Wiggle/CRC Group), Chris­tian Krohs (Anti­trust, Düssel­dorf); Asso­cia­tes: Dr. Florian Schie­fer (Tax, Frank­furt), Sebas­tian Klein (Corporate/M&A, Düssel­dorf), Daniel Ross (Corporate/M&A, London), Carina Kant (Anti­trust, Düsseldorf)

Dr. Kai Kerger, Partner at Bird & Bir

Bird & Bird advises Investec on investment in Capitalmind Int.

London — Bird & Bird LLP has advi­sed Investec Bank plc (“Investec”) on its stra­te­gic mino­rity invest­ment in three Capi­tal­mind Inter­na­tio­nal (“Capi­tal­mind”) compa­nies in France, Germany and the Nether­lands. The tran­sac­tion expands the rela­ti­ons­hip between Investec and Capi­tal­mind and repres­ents an acce­le­ra­tion of both firms’ consul­ting strategies.

Investec’s parent company, Investec plc, is listed on the two stock exch­an­ges in London and Johan­nes­burg. Investec’s banking busi­ness works with growth compa­nies, insti­tu­ti­ons and private equity funds, advi­sing clients on capi­tal and trea­sury risk management.

Focus on medium-sized transactions
Medium-sized tran­sac­tions (€20 — €250 million) in the form of group spin-offs, succes­sion solu­ti­ons, share­hol­der buy-outs, acqui­si­ti­ons and finan­cing are now taking place in an inter­na­tio­nal envi­ron­ment. While large corpo­ra­ti­ons have access to a wide range of profes­sio­nal consul­ting and finan­cing services via inter­na­tio­nal banks and brokers with their specia­li­zed depart­ments, the services for medium-sized tran­sac­tions are still quite regio­nally struc­tu­red, very frag­men­ted and confusing.

Capi­tal­mind is a leading Euro­pean finan­cial advi­sory firm working with family busi­nes­ses, entre­pre­neurs, private equity houses and corpo­ra­ti­ons. Investec’s invest­ment in mino­rity stakes in each of the three compa­nies provi­des Capi­tal­mind with a link to the UK, Ireland, Asia and Africa, while Capi­tal­mind links Investec’s consul­ting busi­ness to most of Western Europe, inclu­ding Germany, France, Bene­lux, Scan­di­na­via and Switzerland.

The following Bird & Bird attor­neys, toge­ther with Investec’s in-house team in London, advi­sed on the tran­sac­tion in four jurisdictions:

The inter­na­tio­nal corpo­rate team was led by part­ner Clive Hope­well, who was suppor­ted by senior asso­ciate Richard Bloo­m­field and asso­ciate Char­lotte Hart (all corpo­rate, London). The French invest­ment was led by part­ner Gildas Louvel, who was suppor­ted by asso­ciate Pierre Lagresle (both Corpo­rate, Paris). The German invest­ment was made by part­ner Dr. Kai Kerger (photo), who was suppor­ted by asso­ciate Johanna Schind­ler (both Corpo­rate, Frank­furt), and the invest­ment in the Nether­lands was led by part­ner Michiel Wurf­bain, who was suppor­ted by part­ner and notary René Rieter and asso­cia­tes Nikita Gomme­ren and Musa Dinc (all Corpo­rate, The Hague).

Charles Barlow, who heads Investec’s cross-border corpo­rate finance busi­ness, said, “Bird & Bird under­stands what this tran­sac­tion means to us stra­te­gi­cally, and we are plea­sed to have them on board with their pan-Euro­pean office network to support the deve­lo­p­ment of our rela­ti­ons­hip with Capitalmind.”

Clive Hope­well added: “We are deligh­ted to have been able to success­fully assist Investec in comple­ting this important stra­te­gic invest­ment in Euro­pean M&A advi­sory services. We wish the teams at Investec and Capi­tal­mind every success in deve­lo­ping this exci­ting new plat­form for M&A advi­sory services across much of Western Europe, parti­cu­larly at a time when demand is expec­ted to be signi­fi­cant post-pandemic.”

DBAG portfolio companies vitronet and DING merge

Frank­furt am Main — vitro­net GmbH (“vitro­net”) and Deut­sche Infra­struk­tur und Netz­ge­sell­schaft mbH (“DING”), two invest­ments from the port­fo­lio of the private equity fund DBAG ECF mana­ged by Deut­sche Betei­li­gungs AG (DBAG), are merging and will in future operate as the vitro­net Group in the fiber optic and energy infra­st­ruc­ture market. The merger now agreed will create a group whose pro forma sales in 2020 amoun­ted to around 340 million euros and which now employs around 2,300 people at more than 30 loca­ti­ons in Germany.

In the fast-growing market for the expan­sion of fiber-optic and energy infra­st­ruc­ture, a provi­der is emer­ging with broad regio­nal coverage and a range of services that covers all the main value-adding steps, from plan­ning and construc­tion of the faci­li­ties to opera­tion and service. The vitro­net Group conti­nues to see good oppor­tu­nities to actively drive forward the conso­li­da­tion of this frag­men­ted market.

In 2017, Deut­sche Betei­li­gungs AG (DBAG) initi­ally struc­tu­red the manage­ment buy-out (MBO) of vitro­net GmbH along­side DBAG ECF. This was follo­wed in 2019 by the MBO of the STG Brauns­berg Group, which has since been opera­ting under the name Deut­sche Infra­struk­tur und Netz­ge­sell­schaft mbH. In the year of acqui­si­tion, vitro­net gene­ra­ted sales of 42 million euros, DING 18 million euros. In recent years, both compa­nies have grown stron­gly; 15 corpo­rate acqui­si­ti­ons to date have contri­bu­ted to this to a consi­derable extent. The Group’s pro forma sales have thus incre­a­sed almost six-fold.

Since the start of the invest­ment, DBAG and DBAG ECF have inves­ted 49 million euros in the two compa­nies, of which DBAG accounts for 22 million euros. DBAG will hold a stake of around 39 percent in the newly formed vitro­net Group, while DBAG ECF will hold 46 percent; most of the remai­ning shares will be held by the Group’s manage­ment. The tran­sac­tion will have no further impact on the valua­tion of the invest­ments in DBAG’s balance sheet. Howe­ver, as of the most recent repor­ting date of March 31, 2021, the value of the latest company acqui­si­ti­ons has been incre­a­sed; these have also already been inclu­ded in the fore­cast for fiscal 2020/2021, which was raised on March 26, 2021.

vitro­net, based in Essen, Germany, has so far focu­sed on acting as a gene­ral contrac­tor for fiber-optic projects. In recent years, various specia­list compa­nies along the value chain have been acqui­red and inte­gra­ted. vitro­net has thus deve­lo­ped into one of Germany’s leading end-to-end part­ners in what is known as FttH expan­sion (FttH: fiber to the home), meaning that it can offer all the essen­tial process steps for this expan­sion. DING, based in Bochum, has so far stood for effi­ci­ent infra­st­ruc­ture expan­sion in the areas of telecom­mu­ni­ca­ti­ons (fiber optics, FttH, mobile commu­ni­ca­ti­ons), energy (district heating, electri­city, eMobi­lity) and utili­ties (gas, water, pipe­line) in Germany.

High market demand meets tight capacity

The Group is bene­fi­t­ing from the dyna­mic growth in demand for high-perfor­mance Inter­net connec­tions. This is trig­ge­ring strong demand for network expan­sion services, which is being met by a shor­tage of corre­spon­ding capa­city in the market. To date, around 70 percent of reve­nue has been gene­ra­ted by the fiber-optic infra­st­ruc­ture busi­ness. The Group’s services range from project plan­ning for new networks and their construc­tion to the opera­tion and servicing of fiber-optic networks. The service share in parti­cu­lar is to grow. Busi­ness in the energy and utili­ties market, which has so far accoun­ted for around 30 percent of sales, is set to bene­fit from the energy tran­si­tion, among other things: To enable eMobi­lity on a large scale, for example, the infra­st­ruc­ture will have to be trans­for­med. The Group sees itself as one of the leading service provi­ders for infra­st­ruc­ture expan­sion in Germany.

In 2013, DBAG began inves­ting in compa­nies that expand or operate fiber-optic networks. The first two invest­ments (inexio and DNS:Net) were sold in 2019 and March 2021. In addi­tion to vitro­net and DING, DBAG, toge­ther with DBAG ECF and DBAG Fund VIII, holds invest­ments in three other compa­nies in the sector (netz­kon­tor nord, BTV and Deut­sche Giga Access).

Larger projects of tele­phone compa­nies, utili­ties and public utilities

“We have inves­ted in a growing market in which, howe­ver, speed in the further deve­lo­p­ment of the compa­nies is decisive for invest­ment success,” expres­sed Tors­ten Grede, Spokes­man of the Manage­ment Board of DBAG on the occa­sion of the tran­sac­tion with regard to the 15 company acqui­si­ti­ons. “We will also support the newly formed group to conti­nue to watch inor­ga­ni­cally.” This invol­ves, for example, closing exis­ting gaps in the regio­nal offering.

“Our custo­mers are incre­a­singly looking for provi­ders who can inde­pendently handle ever-larger projects throughout Germany,” says Marc Lützen­kir­chen, Chair­man of vitronet’s Manage­ment Board. “We can now fulfill this claim even better with the syner­gies of the Group and the deca­des of expe­ri­ence of our subsi­dia­ries.” Last but not least, the new size of the Group will also improve its access to the capi­tal market and thus the finan­cing opti­ons for further corpo­rate acquisitions.

About DBAG

DBAG has made six plat­form invest­ments rela­ted to broad­band telecom­mu­ni­ca­ti­ons expan­sion in Germany since 2013. — Deut­sche Betei­li­gungs AG, a listed company, initia­tes closed-end private equity funds and invests — predo­mi­nantly along­side DBAG funds — in well-posi­tio­ned medium-sized compa­nies with poten­tial. One focus for many years has been indus­try. An incre­a­sing propor­tion of equity invest­ments are in compa­nies in the growth sectors of broad­band telecom­mu­ni­ca­ti­ons, IT services/software and health­care. The long-term, value-enhan­cing entre­pre­neu­rial invest­ment approach makes DBAG a sought-after invest­ment part­ner in the German-spea­king region. Assets mana­ged or advi­sed by the DBAG Group amount to €2.5 billion.

Simon white

McDermott advises Paragon portfolio company APONTIS PHARMA AG on IPO

Frank­furt a.M. — McDer­mott Will & Emery, as tran­sac­tion coun­sel, advi­ses the issuer APONTIS PHARMA AG, its main share­hol­der, the invest­ment company Para­gon Part­ners, as well as the joint bookrun­ners Hauck & Aufhäu­ser and M.M.Warburg on the IPO at the Frank­furt Stock Exchange.

The place­ment price for the IPO was set at 19.00 euros per share. The place­ment volume totals 101 million euros. A total of 5,290,000 shares were placed with inves­tors as part of the IPO, which also inclu­ded a U.S. tran­che in accordance with Rule 144A of the U.S. Secu­ri­ties Act. The place­ment inclu­des 2,000,000 new shares from a cash capi­tal incre­ase as well as 1,600,000 exis­ting shares in connec­tion with a base deal, 1,000,000 exis­ting shares in connec­tion with a top-up option and 690,000 exis­ting shares in connec­tion with an over-allot­ment option from the holdings of the main share­hol­der Para­gon Part­ners. The first day of trading on the Frank­furt Stock Exchange is sche­du­led for May 11, 2021. The exis­ting share­hol­ders Para­gon Part­ners and the manage­ment of APONTIS PHARMA will remain share­hol­ders in the company after the place­ment with a stake of 31% and 7%, respectively.

APONTIS PHARMA AG is a leading phar­maceu­ti­cal company for single pills in the German market. The Company intends to use the net proceeds from the issu­ance of the new shares prima­rily for selec­ted invest­ments in the deve­lo­p­ment of new single pills, acce­le­ra­ting the deve­lo­p­ment and licen­sing of the exis­ting near-term product pipe­line, and expan­ding marke­ting and sales acti­vi­ties to capture addi­tio­nal market share and product acquisitions.

McDer­mott provi­ded compre­hen­sive capi­tal markets legal advice to all parties invol­ved. The McDer­mott team was also respon­si­ble for the corpo­rate struc­tu­ring in the run-up to the IPO.

Advi­sors APONTIS, Para­gon Part­ners and banks Hauck & Aufhäu­ser and M.M.Warburg:
McDer­mott Will & Emery, Frank­furt a.M./Düsseldorf
Capi­tal Markets/IPO Work­stream: Simon Weiß (Project Coor­di­na­tion; Capi­tal Markets), Joseph W. Marx (US Capi­tal Markets; joint lead), Gregory M. Weigand (Miami), Edwin C. Lauren­son (Coun­sel, San Fran­cisco; both US Law), Dr. Deniz Tschamm­ler (Munich), Dr. Monika Rich­ter (both Coun­sel, both Life Scien­ces); Asso­cia­tes: Dr. Marion von Grön­heim, Isabelle Suzanne Müller, Chris­toph Schä­fer, Ardalan Zargari (Staff Attor­ney); Corpo­rate Work­stream: Dr. Phil­ipp Gren­ze­bach (Lead), Dr. Thomas Gennert (both Corpo­rate, both Düssel­dorf); Asso­ciate: Tom Schäfer

Audibene plans IPO on Nasdaq under hear.com brand

Berlin — With its plan­ned IPO, hear.com, the online hearing aid provi­der known in Germany as audi­bene, has finally joined the top league of inter­na­tio­nal TOP online star­tups. On April 19, the regis­tra­tion was submit­ted to the SEC (U.S. Secu­ri­ties and Exchange Commis­sion). Hear.com’s “HCG” paper is thus to be traded on Nasdaq.

Audi­bene is taking a small detour, which is not unusual for German compa­nies: The Dutch company and the simul­ta­ne­ous brand hear.com N.V. submit­ted the docu­ments because of the more favor­able condi­ti­ons under stock exchange law for an IPO in the USA.

From startup to listed company

Berlin, Mainz, Miami, Denver, Toronto, Utrecht, Seoul, Gura­gon (India) and Kuala Lumpur: it is impres­sive what has become of the former startup foun­ded in the capi­tal in 2012 that wanted to “shake up the hearing aid market”.

Now, almost 10 years later, the success story is to be crow­ned by an IPO. Among the first inves­tors are none other than Morgen Stan­ley, J.P. Morgan, Deut­sche Bank and Gold­man Sachs. The former two are acting as Lead Book-Running Mana­gers for the propo­sed offe­ring and as repre­sen­ta­ti­ves of all signa­to­ries to the propo­sed offering.

Hear.com facts and figures

World­wide, hear.com had nearly 5,200 part­ner compa­nies as of the repor­ting date of Sept. 30, 2020, inclu­ding 1,000 in Germany. 106,000 hearing aids were sold world­wide and exclu­ding returns at an average price of €1,426 per hearing aid. — This results in sales of 151 million euros (+26% compa­red to 2019 120 mill. euros). Over­all, the company gene­ra­ted a loss of €23.1 million (2019: €17.34 million). More than 1,500 employees work for hear.com, inclu­ding almost 200 techs.

Deve­lo­p­ment
Online hearing aid retailer Audi­bene was sold to hearing aid manu­fac­tu­rer Sivan­tos in 2015. The two foun­ders Paul Crusius and Marco Vietor remai­ned on board as mana­ging direc­tors. As part of the tran­sac­tion, both foun­ders, who previously held a majo­rity stake in Audi­bene, will receive shares in Sivan­tos Group.

Venture capi­ta­lists Acton Capi­tal Part­ners and Sunstone Capi­tal, as well as an unknown number of busi­ness angels such as entre­pre­neur Stephan Schu­bert, had all sold their stakes in Sivan­tos. Berlin scene heads such as Project-A-Ventures CEO Florian Heine­mann, Edar­ling foun­ders Lukas Bros­se­der and David Khalil, as well as Zalando’s former head of marke­ting, Oliver Roskopf, were also inves­ted in the startup.

Invest­ments for more growth and independence

The company aims to raise $100 million through the IPO. Among other things, this will be used to repay share­hol­der loans to WS Audio­logy that fall due between 2021 and 2023. In addi­tion, a plan­ned rest­ruc­tu­ring is to be put on a stable footing, and the rema­in­der is to be used for gene­ral corpo­rate purpo­ses, inclu­ding finan­cing further growth and imple­men­ting the busi­ness stra­tegy. Further acqui­si­ti­ons are also being considered.

The speci­fic areas in which further invest­ments are to be made remain open. But this is of course where the months after the IPO will be parti­cu­larly exci­ting. For inves­tors, howe­ver, the success story of the model itself and the expec­ted global incre­ase in demand and the resul­ting growth fore­casts in gene­ral should be reason enough for an invest­ment. Whether they then jump into the topics of multich­an­nel sales (online and tradi­tio­nal retail), tech­no­logy (online hearing tests, consu­mer jour­ney) or remote fitting will certainly be some­thing to read about.

VDS traffic engineering flash device

FGvW advises on the sale of VDS Verkehrstechnik to Quarterhill

Toronto, Frank­furt, Löbau — Cana­dian intel­li­gent trans­por­ta­tion systems provi­der Quar­ter­hill Inc. through its wholly owned subsi­diary Inter­na­tio­nal Road Dyna­mics Inc. (“IRD”) acqui­red all shares in VDS Verkehrs­tech­nik GmbH, a German-based provi­der of high-precision traf­fic moni­to­ring equipment.

VDS, based in Löbau, Germany, deve­lops, manu­fac­tures and distri­bu­tes statio­nary and mobile traf­fic moni­to­ring devices that measure vehi­cle speed and record red light viola­ti­ons. VDS’s devices are curr­ently the only radar-based products certi­fied under the new regu­la­ti­ons in Germany, allowing direct tracking of traf­fic viola­ti­ons. VDS has a produc­tion faci­lity and two service centers in Germany and will be inte­gra­ted into Sensor Line GmbH, which was acqui­red by Quarterhill/IRD in Janu­ary 2021. Sensor Line is one of the largest suppliers of VDS for optoelec­tro­nic sensors (www.vds-verkehrstechnik.de).

Quar­ter­hill is a growth-orien­ted company in “Intel­li­gent Trans­por­ta­tion Systems” and a leader in intel­lec­tual property licen­sing (for more infor­ma­tion: www.quarterhill.com). IRD is a dyna­mic ITS tech­no­logy company enga­ged in the deve­lo­p­ment of key compon­ents and advan­ced systems for the next genera­tion of trans­por­ta­tion networks (for more infor­ma­tion: www.irdinc.com).

In the tran­sac­tion, the share­hol­der and the mana­ging direc­tor of VDS were compre­hen­si­vely legally advi­sed by an M&A team of the commer­cial law firm Fried­rich Graf von West­pha­len & Part­ner (FGvW) in Frei­burg and Frank­furt under the leaders­hip of part­ner Dr. Hendrik Thies. The share­hol­der was exten­si­vely advi­sed in the area of commer­cial, stra­te­gic and orga­niz­a­tio­nal M&A tran­sac­tion advice by MNI Part­ners LLC under the leaders­hip of part­ner Domi­nik Lutz. FGvW regu­larly carries out complex, often inter­na­tio­nal M&A projects toge­ther with MNI Partners.

Advi­sor Quar­ter­hill: Norton Rose Fulbright
Paul Amirault (Part­ner, Corpo­rate, Ottawa), Nils Rahlf (Part­ner), Dr. Ariane Theis­sen (Asso­ciate) and Andre Hart­mann (Asso­ciate) (Corpo­rate, Frank­furt); Clau­dia Poslu­schny (Coun­sel), Micha­els Zenkert (Asso­ciate); Olivia Reinke (Asso­ciate) (Employ­ment, Munich); Michael Mehler (Coun­sel), Daniela Kowalsky (Senior Asso­ciate) (Real Estate, Frank­furt); Tino Duttiné (Part­ner), Sarah Heufel­der (Asso­ciate) (Tax, Frank­furt); Tiffany Zilliox (Senior Asso­ciate, Intel­lec­tual Property, Munich).

Advi­sor to share­hol­der and mana­ging direc­tor VDS Verkehrs­tech­nik GmbH: Fried­rich Graf von West­pha­len & Part­ner, Frei­burg and Frankfurt
Dr. Hendrik Thies (Lead Part­ner, Corpo­rate Law, M&A)
Dr. Till Bött­cher (Real Estate Law)
Annette Rölz (Labor Law)

MNI Part­ners LLC
Domi­nik Lutz, Part­ner (Lead Part­ner, M&A Tran­sac­tion Advisory)

About MNI Part­ners: MNIP is a specia­li­zed boutique M&A stra­tegy and tran­sac­tion advi­sory firm in the U.S., Germany and India with a focus on smal­ler and mid-sized tran­sac­tions that are hand-picked, often cross-cultu­ral and below the radar of typi­cal market parti­ci­pants and invest­ment banks. MNIP’s clients, prima­rily on the sell side, are profi­ta­ble compa­nies owned by fami­lies and foun­ders or smal­ler corpo­rate spin-offs with $3 — $30 million in annual revenues.

About Fried­rich Graf von West­pha­len & Partner
Fried­rich Graf von West­pha­len & Part­ner is one of the leading inde­pen­dent German commer­cial law firms. The firm’s appro­xi­mately 100 lawy­ers, 35 of whom are part­ners, advise compa­nies world­wide from offices in Colo­gne, Frei­burg, Berlin, Frank­furt am Main, Alicante and Brussels. In total, the firm has around 250 employees. www.fgvw.de.

Adrian von Prittwitz

Scintomics sells PentixaPharm stake to Eckert & Ziegler

Munich — Scin­to­mics GmbH has sold its stake in Pentix­a­Pharm GmbH to Eckert & Zieg­ler Strah­len- und Medi­zin­tech­nik AG. It was advi­sed on the tran­sac­tion by Gütt Olk Feld­haus (GOF). Part of the consi­de­ra­tion consis­ted of shares in Eckert & Zieg­ler. The parties have agreed not to disc­lose the purchase price.

Pentix­a­Pharm is deve­lo­ping a radio­phar­maceu­ti­cal combi­na­tion product against lymphoma and a number of rela­ted tumors that can be used for both the diagno­sis and treat­ment of cancer. In Febru­ary 2021, Pentix­a­Pharm had recei­ved confir­ma­tion from the Euro­pean Medi­ci­nes Agency (EMA) that its drug candi­date Pentixa­For can advance directly into Phase III clini­cal trials.

Scin­to­mics is active in the deve­lo­p­ment, licen­sing and commer­cia­liz­a­tion of radio-phar­maceu­ti­cal know-how and radio­phar­maceu­ti­cals and was a foun­ding share­hol­der in PentixaPharm.

Eckert & Zieg­ler is a listed company head­quar­te­red in Berlin, Germany, which holds inte­rests in compa­nies in the fields of medi­cal and isotope tech­no­logy as well as radio-phar­macy and nuclear medi­cine, among others.

Legal advi­sors to Scin­to­mics GmbH: Gütt Olk Feld­haus, Munich
Adrian von Prit­twitz (Part­ner, Lead), Dr. Ricarda Theis (Asso­ciate, both Corporate/M&A)

About Gütt Olk Feldhaus
Gütt Olk Feld­haus is a leading inter­na­tio­nal law firm based in Munich. We provide compre­hen­sive advice on commer­cial and corpo­rate law. Our focus is on corpo­rate law, M&A, private equity and finan­cing. In these specia­list areas we also take on the litigation.

WuXi Biologics purchases biologics and COVID-19 vaccines facility from Bayer

Wupper­tal — The globally active Chinese group WuXi Biolo­gics has comple­ted the acqui­si­tion of a plant for biolo­gi­cal subs­tan­ces from Bayer AG in Wupper­tal. The closing took place in Colo­gne on April 30, 2021. A team led by Dirk W. Kolven­bach, Part­ner at the Düssel­dorf office, and Michael Pauli from the Colo­gne office of Heuking Kühn Lüer Wojtek provi­ded legal advice to the Chinese group on the purchase. The tran­sac­tion volume, inclu­ding the lease, is around €150 million. The tran­sac­tion is expec­ted to close in the first half of 2021 and is subject to regu­la­tory review.

The new faci­lity in Wupper­tal is one of the largest vaccine produc­tion sites in Germany and will be used to manu­fac­ture highly sought-after subs­tan­ces for COVID-19 vacci­nes and other biolo­gics. WuXi Biolo­gics plans addi­tio­nal invest­ments in process equip­ment at the Wupper­tal site. “We are very proud to have provi­ded legal support for the purchase of this major vaccine produc­tion faci­lity,” said attor­ney Dirk W. Kolven­bach. “Through this tran­sac­tion, we can also make an important contri­bu­tion on an advo­cacy level for vaccine manu­fac­tu­ring, inclu­ding COVID-19 vacci­nes, in Germany.”

With the conclu­sion of the agree­ment, Bayer and WuXi Biolo­gics have at the same time ente­red into a long-term sublease and a service agree­ment. Bayer will provide various services to WuXi Biolo­gics during the start-up of the plant, contri­bu­ting its own resour­ces. The signing already took place on Decem­ber 21, 2020. The tran­sac­tion volume, inclu­ding the lease, is over 150 million euros.

WuXi Biolo­gics is listed on the Hong Kong Stock Exchange and is a leading global open access biolo­gics tech­no­logy plat­form. The company provi­des end-to-end solu­ti­ons to help compa­nies disco­ver, deve­lop and manu­fac­ture biolo­gics from concept to commer­cial produc­tion. For Kolvenbach’s team, this is not the first tran­sac­tion for WuXi. Heuking had already advi­sed WuXi Biolo­gics on the acqui­si­tion of a drug formu­la­tion plant from Bayer in 2020.

Advi­sor to WuXi Biolo­gics: Heuking Kühn Lüer Wojtek
Dirk W. Kolven­bach (Corpo­rate Law/ Project Coor­di­na­tion), Düsseldorf
Michael Pauli, LL.M. (Corpo­rate Law/Project Coor­di­na­tion), Cologne
Mathis Dick, LL.M. (Real Estate), Düsseldorf
Michael Below, (Public Law), Düsseldorf
Dr. Bodo Dehne (invest­ment control), Düsseldorf
Wolf­ram Meven (Tax Law), Düsseldorf
Dr. Rainer Velte (Anti­trust Law), Düsseldorf
Fabian Gerst­ner, LL.M., Munich, Bettina Nehei­der (both Construc­tion Law), Munich
Dr. Tobias Plath, LL.M. (Insurance Law), Tors­ten Groß, LL.M. (Labor Law), Sarah Radon, LL.M. (Commer­cial), all Düsseldorf

Michael von Rueden, Deloitte Legal

Deloitte Legal advises Implenia on sale of maintenance division

Düssel­dorf — A Deloitte Legal team led by Düssel­dorf M&A part­ners Michael von Rüden and Dirk Hänisch (both lead part­ners) advi­sed SIX Swiss Exchange-listed Imple­nia Group, one of Switzerland’s leading construc­tion and real estate services compa­nies, on the plan­ned sale of German-based Imple­nia Instand­set­zung GmbH to Karrié Bau GmbH & Co KG. As a result of the tran­sac­tion, which was signed on April 16, 2021 and is expec­ted to be comple­ted on May 31, 2021 (closing), all sites and ongo­ing projects with a total of 199 employees of the Main­ten­ance divi­sion will be trans­fer­red to Karrié Bau.

Imple­nia is dispo­sing of the main­ten­ance busi­ness in order to focus further on the defi­ned core port­fo­lio in line with its stra­tegy. Karrié Bau plans to assume respon­si­bi­lity for ongo­ing projects after the acqui­si­tion is comple­ted. As part of the tran­sac­tion, the condi­ti­ons were crea­ted for a seam­less carve-out of the main­ten­ance busi­ness and its success­ful conti­nua­tion by Karrié Bau.

In the imple­men­ta­tion of the project, the Deloitte Legal team was able to contri­bute to the success through a combi­na­tion of first-class legal advice, tran­sac­tion expe­ri­ence and goal-orien­ted commu­ni­ca­tion. The close coope­ra­tion with colleagues from Deloitte Corpo­rate Finance and Deloitte Tran­sac­tion Services Switz­er­land and Deloitte Tax Germany enab­led compre­hen­sive inter­di­sci­pli­nary advice on all commer­cial, legal and tax aspects mate­rial to the tran­sac­tion. www.deloittelegal.de

Advi­sor Imple­nia: Deloitte Legal
Dr. Michael von Rüden and Dirk Hänisch (both Lead, Corporate/M&A), Thilo Hoff­mann (Coun­sel), André Giesen (Senior Asso­ciate, all Corporate/M&A, Düssel­dorf) Deloitte Corpo­rate Finance and Tran­sac­tion Services, Switz­er­land: Stephan Brücher, Benja­min Lechuga, Maxi­mi­lian Hornung, Nico­las Bornitz Deloitte Tax: Fabian Borkowski

Advi­sor Karrié Bau GmbH & Co KG: EY Law
Dr. Thors­ten Erhard, Dr. Robert Schil­ler, Dr. Timo Rinne EY: Chris­toph Serf, Hagen Reiser, Jan-Hendrik Pirwitz, Thors­ten Schnei­der, Tobias Kampmann

About Imple­nia
As a leading Swiss construc­tion and real estate service provi­der, Imple­nia deve­lops and reali­zes living spaces, working envi­ron­ments and infra­st­ruc­ture for future genera­ti­ons in Switz­er­land and Germany. Imple­nia also plans and builds complex infra­st­ruc­ture projects in Austria, France, Sweden and Norway. Imple­nia can look back on around 150 years of construc­tion tradi­tion. The company brings toge­ther the exper­tise of highly quali­fied consul­ting, plan­ning and execu­tion units under one roof to form an inte­gra­ted, multi­na­tio­nal leading construc­tion and real estate service provider.

With its broad range of services and the in-depth expe­ri­ence of its specia­lists, the Group is able to realize complex large-scale projects and support struc­tures throughout their entire life cycle and in close proxi­mity to custo­mers. The focus is on the needs of custo­mers and a sustainable balance between econo­mic success and social and envi­ron­men­tal respon­si­bi­lity. Imple­nia, head­quar­te­red in Opfikon near Zurich, employs more than 8,500 people across Europe and gene­ra­ted sales of almost CHF 4 billion in 2020. For more infor­ma­tion, visit implenia.com. About Imple­nia Instand­set­zung GmbH Imple­nia Instand­set­zung is a leading full-service part­ner in Germany for struc­tu­ral resto­ra­tion of buil­dings, infra­st­ruc­ture struc­tures or parts thereof.

Management Team of Raound2Capital

ROUND2 CAPITAL: 7 investments in Europe in 3 months

Vienna — Round2 Capi­tal, the Vienna-based growth finance invest­ment fund and Euro­pean pioneer in reve­nue-based finan­cing, closes the first quar­ter with seven invest­ments. The exis­ting port­fo­lio of 13 compa­nies will thus be expan­ded by tech scale-ups from Germany, the UK, Austria, France and Sweden. Chris­tian Czer­nich, Round2 Capi­tal foun­der and CEO, explains why the alter­na­tive finan­cing form of reve­nue-based finan­cing is so in demand right now.

The first quar­ter ended parti­cu­larly success­fully for the Round2 Capi­tal team: 7 new compa­nies now expand the port­fo­lio of the Vienna-based invest­ment fund, which is prima­rily dedi­ca­ted to reve­nue-based finan­cing. Invest­ments are made far beyond natio­nal borders and scale-ups from Germany, Sweden, Great Britain, France and, of course, Austria are welco­med into the family of port­fo­lio compa­nies. The new invest­ments are:

Logsta (AT), next-genera­tion soft­ware-enab­led logistics company with wareh­ouse loca­ti­ons in Austria, Germany, the UK, France and the US.

Projekt­eins (DE), B2B soft­ware plat­form for the inte­gra­tion of various e‑commerce applications.

Dracoon (DE), cyber­se­cu­rity busi­ness cloud with the highest encryp­tion standards.

Hamil­ton Apps (FR), a leading work­place tech­no­logy provi­der offe­ring a wide range of solu­ti­ons within a single inte­gra­ted platform.

Sales Impact Academy (UK), an e‑learning plat­form for B2B salespeople.

Subscrip­tion-based sports commu­nity (UK)

Inter­net Yield (SE), acqui­res, owns and opera­tes reve­nue-genera­ting websites curr­ently selling 40 million ad impres­si­ons per month.

Round2 Capi­tal focu­ses on young digi­tal SaaS compa­nies that are in the growth phase and already employ 20 — 150 people. As a rule, these compa­nies have already reached the opera­ting brea­ke­ven point. The majo­rity of the port­fo­lio compa­nies were able to reach this level without exter­nal finan­cing and are now pursuing a growth stra­tegy that enab­les growth even without high burn rates. The Round2 port­fo­lio inclu­des e.g. the German cyber secu­rity company Myra Secu­rity, the Swiss EduTech scale-up Aval­lain or the Finnish, multi­ple award-winning scale-up Vainu, all of which have mana­ged to grow to a sales volume of between 5- 15 million euros without exter­nal equity financing.

Reve­nue-based finan­cing is a rela­tively new finan­cing instru­ment in Europe, which has been success­fully estab­lis­hed not least through the work of Round2 Capi­tal. The high­light of this form of growth finan­cing is that the company does not have to give up any company shares, as instead the fund parti­ci­pa­tes in the company’s sales until a prede­fi­ned repay­ment amount is reached. The monthly repay­ments auto­ma­ti­cally adjust to the company’s turno­ver and thus do not cause any cash flow problems. Since leng­thy nego­tia­ti­ons on company valua­tions are no longer necessary, the tran­sac­tion process is also signi­fi­cantly faster. All these advan­ta­ges make reve­nue-based finance a simple, flexi­ble and fully trans­pa­rent finan­cing tool.

The capi­tal provi­ded by Round2 is mostly used by the young compa­nies to expand sales, marke­ting and inter­na­tio­na­liz­a­tion. In other words, for measu­res that quickly lead to sales growth.

Today, Round2 Capi­tal mana­ges over 30 million euros from mainly entre­pre­neurs and family offices from Sweden, Germany, and Austria. Wher­eby plans are already under­way to open the fund to insti­tu­tio­nal inves­tors and signi­fi­cantly incre­ase the capi­tal under management.

How Reve­nue-based Finan­cing Works

Reve­nue-based finan­cing consists of a subor­di­na­ted loan whose repay­ment is linked to the reve­nue of the company in which the invest­ment is made. This share is between 2–6%, depen­ding on the amount finan­ced and sales, and consists of both a repay­ment and a royalty compo­nent. The reve­nue share is paid until a certain multi­ple of the finan­cing amount, which is between 1.35x — 2.15x, has been paid. When this is reached after 4–6 years, the finan­cing auto­ma­ti­cally expi­res. The finan­cing volume is initi­ally between EUR 500,000 and EUR 2 million and can be gradu­ally incre­a­sed to over EUR 10 million by supple­men­ting it with equity. Since in some cases it can be well combi­ned with an equity invest­ment and even replace it, Round2 Capi­tal selec­tively also offers a combi­na­tion of these two invest­ment models.

The advan­tage of reve­nue-based finan­cing over other venture debt finan­cing is that repay­ments are linked to sales and thus to the company’s cash flow. In this way, this cannot become unba­lan­ced due to the repay­ment obligations.

About Round2 Capi­tal Partners
Round2 Capi­tal is a fast-growing Euro­pean invest­ment firm with over €30 million in capi­tal under manage­ment. Based in Vienna, Berlin and Stock­holm, the company is a strong part­ner for Euro­pean scale-ups with digi­tal and sustainable busi­ness models. Since its incep­tion in 2017, Round2 Capi­tal has been pionee­ring reve­nue-based finan­cing in Europe and is active in several Euro­pean coun­tries, with a focus on Germany, Switz­er­land, Austria, UK and the Nordic coun­tries. To date, Round2 Capi­tal has inves­ted in 20 diffe­rent compa­nies. www.round2cap.com

Matthias Henning, Finexx

Finexx takes over Volpini packaging and increases fund volume

Stutt­gart — The invest­ment company Finexx has acqui­red 100 percent of the shares in Volpini Verpa­ckun­gen GmbH Austria as part of a succes­sion plan. Volpini is a leading manu­fac­tu­rer in Central Europe of Pack­a­ging cups and films. The exis­ting manage­ment will conti­nue to support the company in all opera­tio­nal matters to ensure a seam­less tran­si­tion of manage­ment. The parties have agreed not to disc­lose further details of the tran­sac­tion. The new invest­ment, which stra­te­gi­cally fits perfectly into Finexx’s invest­ment stra­tegy, takes into account an incre­ase of Finexx Fund II to the total volume of 30 million euros. The high-growth mid-market inves­tor from Stutt­gart now mana­ges a total of around EUR 65 million.

Volpini Verpa­ckun­gen GmbH Austria, based in Spit­tal an der Drau, Austria, was origi­nally foun­ded in 1811. Since 1970, the tradi­tio­nal company with its current work­force of around 60 employees has specia­li­zed in the produc­tion of plastic pack­a­ging, in parti­cu­lar sustainable pack­a­ging cups (yogurt pots) and ther­mo­forming sheets. In the field of Desto cups, which are consi­de­red to be parti­cu­larly sustainable, Volpini plays a leading role in the Central Euro­pean market. The company has modern produc­tion faci­li­ties that are opti­mally adap­ted to the requi­re­ments of medium-sized and large custo­mers in the food indus­try. Most recently, Volpini gene­ra­ted annual sales of around 13 million euros.

With the acqui­si­tion of Volpini, Finexx further expands its presence and exper­tise in the food indus­try. With the orga­nic food inno­va­tor BIOVEGAN and BioneXX Holding with the brands GSE, Fitne and Feel­good Shop, the port­fo­lio of the indus­try specia­list already inclu­des two market-leading plat­forms in the field of orga­nic baking and cooking ingre­dients as well as food supple­ments and healing products.

“The food indus­try is in a state of flux. Not only is the market for health-conscious nutri­tion growing rapidly, but compa­nies and inno­va­tive solu­ti­ons in the field of sustainable pack­a­ging solu­ti­ons are also boom­ing. Volpini is already excel­lently posi­tio­ned in this area. In addi­tion, we see both orga­nic and inor­ga­nic growth poten­tial at Volpini. With its market-leading posi­tion, the company is there­fore the opti­mal stra­te­gic addi­tion to our indus­try-orien­ted port­fo­lio,” says Finexx CEO Matthias Heining.

Accom­pany­ing the tran­sac­tion, Finexx Fund II, which was closed at the end of last year, was incre­a­sed from 20 to now 30 million euros. The Baden-Würt­tem­berg-based invest­ment company, which specia­li­zes in growth invest­ments and succes­sion plan­ning, now mana­ges a total of around 65 million euros. Finexx’s cross-sector invest­ment stra­tegy focu­ses on small and medium-sized enter­pri­ses (SMEs) with sales of 10 million euros or more.

“Our invest­ment philo­so­phy is to support medium-sized compa­nies with indus­try exper­tise, capi­tal and an exten­sive network in their growth or in chal­len­ging succes­sion situa­tions as part­ners. In our self-image as an insti­tu­tio­nal family share­hol­der, we wanted to conti­nue this proven stra­tegy with our second fund from the outset. The incre­ase of our Finexx Fund II by around ten million euros shows that we are on the right track with our entre­pre­neu­rial convic­tion,” says Dr. Markus Seiler, CEO of Finexx.

In addi­tion to Volpini, BIOVEGAN and BioneXX Holding in the pack­a­ging and food indus­try, Finexx has a stake in Sicko, a medium-sized specia­list in indus­trial auto­ma­tion in wood processing.

About Finexx
Finexx GmbH Unter­neh­mens­be­tei­li­gun­gen, based in Stutt­gart, is an invest­ment company foun­ded in 2013 that specia­li­zes in estab­lis­hed medium-sized compa­nies. Typi­cal fields of acti­vity are growth, invest­ment and acqui­si­tion finan­cing as well as the support of chan­ges in the share­hol­der struc­ture and succes­sion planning.

Finexx invests long-term funds from insurance compa­nies and pension funds, among others, in compa­nies from the German-spea­king region, predo­mi­nantly within the frame­work of majo­rity share­hol­dings. These have sales of EUR 10 million or more, a quali­fied manage­ment team, and can demons­trate sustainable earnings power and cash flow based on a success­ful busi­ness model.

The team has many years of indus­trial and manage­ment expe­ri­ence as well as profound know-how in the invest­ment sector — both are brought to bear for the success­ful further deve­lo­p­ment of compa­nies and in the asso­cia­ted change proces­ses. Finexx supports manage­ment by provi­ding active commer­cial and tech­ni­cal advice without inter­fe­ring with day-to-day opera­ti­ons, as well as a cross-indus­try network. www.finexx.de

300 million euros: Eurazeo launches Sustainable Maritime Infrastructure Fund

Paris/ Frank­furt am Main — Eura­zeo laun­ches Sustainable Mari­time Infra­st­ruc­ture, a thema­tic fund to finance envi­ron­ment­ally friendly infra­st­ruc­ture and tech­no­logy in the mari­time sector. The Fund enab­les sustainable deve­lo­p­ment as defi­ned in Arti­cle 9 of Regu­la­tion (EU) 2019/2088 (known as the “Disclo­sure Regu­la­tion”) and thus directly contri­bu­tes to Eurazeo’s ESG stra­tegy called “O+”, through which the company aims to achieve carbon neutra­lity by 2040. The target size of the fund is 300 million euros, and several renow­ned state and insti­tu­tio­nal inves­tors have already pled­ged their participation.

Curr­ently, 90 percent of the world’s goods are trans­por­ted by sea. Carbon dioxide reduc­tion in the mari­time sector is thus crucial to halting climate change. To meet this chal­lenge, the fund will finance mainly in three areas: Ships equip­ped with advan­ced tech­no­lo­gies and there­fore more envi­ron­ment­ally friendly, inno­va­tive port faci­li­ties, and capi­tal equip­ment used in the deve­lo­p­ment of offshore rene­wa­ble energy genera­tion facilities.

The Euro­pean Commission’s Green Deal envi­sa­ges Europe achie­ving the goal of climate neutra­lity by 2050. The Eura­zeo Sustainable Mari­time Infra­st­ruc­ture will finance around fifty projects or faci­li­ties in the mari­time indus­try across Europe that contri­bute to achie­ving this goal. Germany is to play a key role in this as an invest­ment loca­tion. The mari­time indus­try in this coun­try has an annual sales volume of up to 50 billion euros, the coun­try is one of the largest ship­buil­ding nati­ons in the world, and around 20 percent of global contai­ner capa­city comes from here (as of 2018).

The Sustainable Mari­time Infra­st­ruc­ture fund is mana­ged by Idin­vest Part­ners, a subsi­diary of Eura­zeo. As a leasing fund, it offers its inves­tors a parti­cu­larly secure risk profile, as the invest­ments are colla­te­ra­li­zed by the finan­ced capi­tal goods. Through the asset finance model, it gene­ra­tes quar­terly distri­bu­ti­ons from lease payments recei­ved and has an advan­ta­ge­ous solvency capi­tal requi­re­ment of less than ten percent.

As of Janu­ary 1, 2020, ship­ping compa­nies must signi­fi­cantly reduce their emis­si­ons (from 3.5 to 0.5 percent) under the new Inter­na­tio­nal Mari­time Orga­niz­a­tion (IMO) regu­la­tion to reduce the sulfur content of fuels. This regu­la­tion is part of a global stra­tegy by the IMO and aims to reduce total green­house gas emis­si­ons from the ship­ping indus­try by at least 50 percent by 2050 compa­red to 2008 levels. The fund will help reduce both green­house gas emis­si­ons and emis­si­ons of sulfur oxides (Sox) and nitro­gen oxides (NOx), which are parti­cu­larly harm­ful to the air.

The emis­sion reduc­tions achie­ved with the help of the fund invest­ments are measu­red using quan­ti­ta­tive indi­ca­tors whose measu­re­ment metho­do­logy has been veri­fied by inde­pen­dent experts and which are checked as part of an annual exter­nal survey.

In Janu­ary 2020, Eura­zeo Sustainable Mari­time Infra­st­ruc­ture recei­ved the LuxFLAG label (“Appli­cant Fund Status”). The label certi­fies that funds take ESG crite­ria into account at every stage of the invest­ment process.

Chris­to­phe Bavière, member of Eurazeo’s Execu­tive Board, said, “We are very plea­sed to offer our inves­tors an option that meets the ‘Arti­cle 9’ crite­ria with Eura­zeo Sustainable Mari­time Infra­st­ruc­ture. Many inves­tors are looking for invest­ments that make a measura­ble contri­bu­tion to decar­bo­niz­a­tion and envi­ron­men­tal change. In addi­tion, the fund is charac­te­ri­zed by a parti­cu­larly high level of capi­tal protection.”

Daniel Emers­le­ben, who serves as invest­ment direc­tor for the fund, added:
“Our new fund is a finan­cing instru­ment that will help reduce green­house gases and sulfur. We measure the emis­sion reduc­tions achie­ved, have the values veri­fied by inde­pen­dent experts and disc­lose them to our inves­tors. The imple­men­ta­tion of this process, which was deve­lo­ped in a trans­pa­rent process toge­ther with inde­pen­dent orga­niz­a­ti­ons, demons­tra­tes our commit­ment to deploy­ing capi­tal in a way that makes a measura­ble contri­bu­tion to addres­sing the envi­ron­men­tal and climate chal­len­ges of our time.”

About the O+ ESG strategy

Eurazeo’s sustaina­bi­lity stra­tegy, called “O+”, was laun­ched in 2020 and has two main components:

A net zero carbon emis­si­ons target for Eura­zeo as well as its port­fo­lio compa­nies by 2040. The Company is guided by the crite­ria of the Science Based Targets initia­tive. This goal will be achie­ved by inves­ting in low-carbon compa­nies, redu­cing carbon costs and risks in the port­fo­lio, and measu­ring the carbon foot­print throughout the invest­ment cycle.
Promo­ting grea­ter inclu­sion and soli­da­rity by achie­ving at least 40 percent leaders­hip of the under­re­pre­sen­ted gender at Eura­zeo as well as its port­fo­lio compa­nies, estab­li­shing systems to ensure that all stake­hol­ders bene­fit from the value crea­ted by Eurazeo’s invest­ments, and initia­ti­ves to improve access to health­care and promote equity and philanthropy.

Eura­zeo is the only private equity company listed in the indi­ces of the five leading rating agen­cies for non-finan­cial crite­ria. With an AA rating in MSCI’s ESG ranking (as of March 2020), Eura­zeo is among the top 20 percent of best-rated compa­nies, above the indus­try average. In 2020, Eura­zeo also achie­ved the maxi­mum score (A+) in the four PRI (Princi­ples for Respon­si­ble Invest­ment) assess­ment cate­go­ries rele­vant to its busi­ness: Stra­tegy & Gover­nance, Private Equity (indi­rect), Private Equity (direct) and Fixed Income (direct). In each of these cate­go­ries, Eurazeo’s scores are thus above the median for the sector.

About Eura­zeo

Eura­zeo is a leading inter­na­tio­nal invest­ment company mana­ging €21.8 billion in assets across a diver­si­fied invest­ment port­fo­lio of more than 450 compa­nies. 15.0 billion euros of the assets under manage­ment came from invest­ment part­ners. With its compre­hen­sive exper­tise in private equity, real estate and private debt, Eura­zeo supports compa­nies of all sizes. A team of nearly 300 profes­sio­nals with deep sector exper­tise as well as access to global markets supports the deve­lo­p­ment of the port­fo­lio compa­nies and provi­des them with a respon­si­ble and stable growth plat­form. The solid share­hol­der struc­ture, consis­ting of insti­tu­tio­nal inves­tors and family share­hol­ders, in combi­na­tion with a robust balance sheet without struc­tu­ral debt and a flexi­ble invest­ment hori­zon allow Eura­zeo to accom­pany port­fo­lio compa­nies over the long term.

Eura­zeo has offices in Paris, New York, Sao Paulo, Seoul, Shang­hai, London, Luxem­bourg, Frank­furt, Berlin and Madrid. Eura­zeo is listed on Euronext Paris.

Schölly Fiberoptic sells majority stake to Aesculap

Frei­burg — The Schölly family has sold the majo­rity of its shares in Baden-Würt­tem­berg-based Schölly Fiber­op­tic GmbH to Aescu­lap AG, a subsi­diary of phar­maceu­ti­cal group B. Braun SE, but will retain a 30 percent stake. The tran­sac­tion is still subject to anti­trust clearance. The parties have agreed not to disc­lose the purchase price.

Schölly Fiber­op­tic was compre­hen­si­vely legally advi­sed on the sale by a corpo­rate and M&A team from the law firm Fried­rich Graf von West­pha­len & Part­ner, led by Dr. Barbara Mayer. FGvW thus once again unders­cores the strong health­care exper­tise of its M&A prac­tice. FGvW previously advi­sed Schölly Fiber­op­tic on the sale of its robo­tics endo­scopy busi­ness to Intui­tive Surgi­cal in 2019. Schölly was advi­sed on tax matters by Hanns-Georg Schell and Clau­dio Schmitt of the audi­t­ing and tax consul­ting firm BANSBACH GmbH in Frei­burg. Aescu­lap AG was advi­sed by a team from the law firm Brei­ten Burk­hardt under the leaders­hip of Dr. Chris­tian Ulrich Wolf in Hamburg.

The medi­cal tech­no­logy company Schölly Fiber­op­tic GmbH, based in Denz­lin­gen / Baden-Würt­tem­berg, specia­li­zes in engi­nee­ring and the produc­tion of custo­mi­zed visua­liz­a­tion systems in the busi­ness areas of Medi­cal Endo­scopy and Visual Inspec­tion. Since 1998, the owners of the globally active company have been both the Schölly family and Aescu­lap AG in Tutt­lin­gen. Schölly Fiber­op­tic was foun­ded in 1973 and curr­ently employs about 550 people.

Aescu­lap AG, with around 3,600 employees and head­quar­ters in Tutt­lin­gen, is a leading global supplier of products and services in the field of medi­cal tech­no­logy. The company is part of the B. Braun Group.

Advi­sors to Schölly Fiber­op­tic GmbH: Fried­rich Graf von West­pha­len & Part­ner, Freiburg
Dr. Barbara Mayer, Frei­burg, Part­ner (Lead Part­ner, Corpo­rate, M&A)
Dr. Jan Barth, Frei­burg, Senior Asso­ciate (Corpo­rate, M&A)
Daniel Rombach, Frei­burg, Asso­ciate (Merger Control)

BANSBACH GmbH, Freiburg
Hanns-Georg Schell, Mana­ging Part­ner (Tax Law)
Clau­dio Schmitt, Asso­ciate Part­ner (Tax Law)

ARQIS advises BME on the acquisition of Mahler Group

Düssel­dorf — ARQIS advi­sed BME Group on the acqui­si­tion of Mahler Group — a leading buil­ding mate­ri­als and tile distri­bu­tor in Bava­ria. The share sale is still subject to appro­val by the rele­vant anti­trust autho­ri­ties and is expec­ted to be comple­ted in the course of 2021.

BME is one of the leading buil­ding mate­ri­als trading compa­nies in Europe and is active in Germany in the sale of buil­ding mate­ri­als under the brands Bauking (gene­ral buil­ding mate­ri­als trading) and Paul­sen Gruppe, Dete­ring, Berg­mann & Franz (all sani­tary, heating and instal­la­tion trading). With the acqui­si­tion of the Mahler Group, Bauking will expand its presence to southern Germany.

The Mahler Group compri­ses the brands Bauwa­ren Mahler, Mahler Baye­ri­sche Bauwa­ren, Mahler Flie­sen & Glas­bau and Hillari Flie­sen­cen­ter. The group has a network of five bran­ches and employs a total of 273 people.

The ARQIS focus group Tran­sac­tions around Dr. Jörn-Chris­tian Schulze advi­sed BME for the second time. When Dete­ring was acqui­red in the summer of 2020, it was the first time the team worked for the then newly formed BME Group. Previously, ARQIS had already comple­ted the acqui­si­ti­ons of the Paul­sen Group and the Berg­mann & Franz Group for the former parent company CRH plc. accompanied

Advi­sor BME: ARQIS (Düssel­dorf)

Dr. Jörn-Chris­tian Schulze (Lead; Corporate/M&A), Dr. Ulrich Lien­hard (Real Estate), Marcus Noth­hel­fer (Commer­cial & IP/IT; Munich), Tobias Neufeld (Pensi­ons & Data Protec­tion); Coun­sel: Thomas Chwa­lek (Corporate/M&A), Sina Janke (Compli­ance; Munich); Asso­cia­tes: Kamil Flak, Dr. Nima Hanifi-Atash­gah (both Corporate/M&A), Jenni­fer Huschauer (Real Estate), Nora Meyer-Strat­mann, Rolf Tichy (both Commer­cial & IP/IT; both Munich), Martin Wein­gärt­ner (Pensi­ons & Labor), Eva Kraszkie­wicz, Juliane Lewen (both Data Privacy), Walde­mar Rembold (Risk); Legal Specia­list: Gloria Bitt­ner-Schüt­zen­dorf (Commer­cial)
Niit­väli (Frank­furt): Evelyn Niit­väli (Anti­trust)

About ARQIS

ARQIS is an inde­pen­dent busi­ness law firm opera­ting inter­na­tio­nally. The firm was foun­ded in 2006 in Düssel­dorf, Munich and Tokyo. Around 55 lawy­ers and legal specia­lists advise domestic and foreign compa­nies at the highest level on German and Japa­nese busi­ness law. With the focus groups Tran­sac­tions, HR.Law, Japan, Data.Law and Risk, the firm is geared towards provi­ding holistic advice to its clients.

Subscribe newsletter

Here you can read about the latest transactions, IPOs, private equity deals and venture capital investments, who has raised a new fund, how Buy & Build activities are going.

Get in touch

Contact us!
fyb [at] fyb.de