News-Kategorie: Deals

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.

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 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.

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.

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)


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.

Stefan Muench

KORIAN acquires Lebenswert intensive care service

Munich — KORIAN Deutsch­land AG has acqui­red the ‘Inten­siv­pfle­ge­dienst Lebens­wert’ (IPDL). Bird & Bird LLP advi­sed KRIAN on this transaction.

For KORIAN, one of Europe’s leading provi­ders of care and nursing services for seni­ors, the inte­gra­tion of IPDL into its network was another important step in diver­si­fy­ing its offe­ring in care and nursing services for seni­ors and those in need of care. KORIAN also offers long-term care faci­li­ties, specialty clinics, assis­ted living, and home care and services, among other services. In addi­tion to Germany and France, the KORIAN Group is also active in Belgium, Italy, the Nether­lands and Spain.

IPDL’s services include inten­sive and respi­ra­tory care at home or in special resi­den­tial commu­ni­ties, as well as an outpa­ti­ent service for senior care at home. In addi­tion, the company’s own “Lebens­wert Academy” offers exten­sive advan­ced and further trai­ning in the field of inten­sive and respi­ra­tory care.

IPDL was foun­ded in 2009 by the married couple Martina and Rudolf Wied­mann and employs around 280 people. The care service is active in parts of Baden-Würt­tem­berg and Bava­ria. Rudolf Wied­mann remains with the company as Mana­ging Direc­tor. His wife as well as the whole manage­ment team are still active in the manage­ment and support KORIAN Germany with their know-how.

Advi­sor to KORIAN Deutsch­land AG: Bird & Bird, Munich
Lead Part­ner Stefan Münch, Coun­sel Michael Gaßner, Asso­ciate Marcel Nurk (all Corporate/M&A, Munich) and Asso­ciate Jan Medele (Corporate/M&A, Düssel­dorf), Part­ner Dr. Alex­an­der Duis­berg and Asso­ciate Goek­han Kosak (both Commer­cial, Munich), Part­ner Thomas Hey and Asso­ciate Alisa Nent­wig (both Labor Law, Düssel­dorf), Part­ner Dr. Stephan Wald­heim and Asso­ciate Marcio da Silva Lima (both Anti­trust, Düssel­dorf), Part­ner Dr. Markus Körner (Trade­mark, Munich).

Bird & Bird alre­ady advi­sed KORIAN Deutsch­land AG last year on the acqui­si­tion of the care divi­sion of Quali­vita AG.

Compleo Charging Solution

Heuking Kühn Lüer Wojtek advises Compleo on the merger with wallbe

Dortmund/ Colo­gne — With a team led by Dr. Oliver Bött­cher and Kris­tina Schnei­der from the Colo­gne office, Heuking Kühn Lüer Wojtek advi­sed Compleo Char­ging Solu­ti­ons AG on a merger with wallbe AG. The closing of the tran­sac­tion and the combi­na­tion of Compleo’s and wallbe’s opera­ti­ons are expec­ted to take place before the end of April. The merger of the compa­nies, whose products and services comple­ment each other, is expec­ted to create a major provi­der of char­ging solu­ti­ons in Europe. With the merger, Compleo and wallbe streng­then their leading posi­tion on the German market and in Europe.

Compleo will acquire 100 percent of the shares in wallbe in return for payment of appro­xi­m­ately one-third in Compleo shares, and appro­xi­m­ately two-thirds in cash from exis­ting liqui­dity. The two previous and largest owners of wallbe, ener­city AG (around 50 percent) and Weid­mül­ler Mobi­lity Concepts GmbH & Co. KG (around 26 percent), as well as Dr. Domi­nik Freund, will remain invol­ved in Compleo as new shareholders.

Compleo is a leading provi­der of char­ging solu­ti­ons for elec­tric vehic­les. In doing so, the company supports complete solu­tion provi­ders with its char­ging stati­ons and, if requi­red, also with the plan­ning, instal­la­tion, main­ten­ance, service or backend of the char­ging infra­struc­ture. Compleo’s offe­ring includes both AC and DC char­ging stati­ons. DC char­ging stati­ons from Compleo are the first DC char­ging stati­ons on the market that comply with cali­bra­tion regu­la­ti­ons. The company deve­lops and manu­fac­tures all products at its Dort­mund site. In doing so, the manu­fac­tu­rer focu­ses on inno­va­tion, safety, consu­mer-friend­li­ness and cost-effec­ti­ve­ness. Compleo star­ted produc­tion of the first char­ging stati­ons in 2009. The fast-growing company is head­quar­te­red in Dort­mund and curr­ently employs over 260 people. Since Octo­ber 2020, Compleo has been listed in the Prime Stan­dard segment of the Frank­furt Stock Exch­ange (ISIN: DE000A2QDNX9).

The Böttcher/Schneider team alre­ady advi­sed the current majo­rity share­hol­der and part of the manage­ment on the acqui­si­tion of the stake in the then EBG compleo GmbH at the end of 2019. In the context of the current merger, Compleo’s advice included full advice on the acqui­si­tion, due dili­gence, contract docu­men­ta­tion, inclu­ding the exch­ange of shares carried out, up to the closing.

Advi­sors to Compleo Char­ging Solu­ti­ons AG: Heuking Kühn Lüer Wojtek
Dr. Oliver Bött­cher (Lead Partner),
Kris­tina Schnei­der, LL.M.,
Dr. Phil­ipp Jansen,
Dr. Chris­toph Schork, LL.M.,
Anna Schä­fer (all corporate/M&A), all Cologne
Dr. Thors­ten Kuthe,
Meike Dres­ler-Lenz (both Capi­tal Markets), both Cologne
Dr. Ruben Hofmann (IP), Cologne
Dr. Sascha Sche­wiola (Labor Law), Cologne
Dr. Lutz Keppe­ler (IT), Cologne
Tim Peter­mann (Sales Law),
Fabian G. Gaffron (Taxes), both Hamburg
Beatrice Stange, LL.M. (anti­trust law), Düsseldorf
Klaus Weinand-Härer
Adam Brock­mann (both Tax Due Dili­gence), both Frankfurt

Leupold packaging

Waterland: Packaging manufacturer Leupold merges with Strobel

Hamburg / Schwa­bach / Roth — Pack­a­ging mate­ri­als and folding carton manu­fac­tu­rer Leupold is ente­ring its first part­ner­ship under the aegis of private equity firm Water­land Private Equity, which acqui­red a majo­rity stake in Leupold in August 2020. In the future, Stro­bel AG, a manu­fac­tu­rer of folding cartons and card­board pack­a­ging with a special focus on sustaina­bi­lity, will comple­ment the product range of the pack­a­ging manu­fac­tu­rer. With Waterland’s support, the two compa­nies will increase their custo­mer segments and geogra­phic reach, and mutually leverage and further expand product inno­va­tions. The current Stro­bel owners, Fried­rich and Monika Bech­told, will remain on board as part of a tran­si­tion phase.

Stro­bel, based in Roth, was foun­ded in 1894. Over the years, the long-estab­lished company has deve­lo­ped into a specia­li­zed supplier of carton­board pack­a­ging and rela­ted services for the consu­mer and food indus­tries. Stro­bel AG’s product range, which can be indi­vi­du­ally adapted to speci­fic custo­mer requi­re­ments, extends from folding boxes to displays. Stro­bel also offers its custo­mers a range of services in areas such as pack­a­ging and logistics.

Stro­bel places a special focus on sustaina­bi­lity and climate neutra­lity in deve­lo­p­ment and produc­tion: Stro­bel has alre­ady been certi­fied and awarded seve­ral times for its achie­ve­ments in this area, for exam­ple with first place in the Energy Turn­around Award of the city of Roth and the German Pack­a­ging Award 2020. Stro­bel was also the first Bava­rian pack­a­ging company to become comple­tely climate-neutral. The company’s custo­mers include renow­ned manu­fac­tu­r­ers of bran­ded goods in the sports, fitness and well­ness, food and pet food, and toy sectors.

Foun­ded in Schwa­bach in 1910, Joh. Leupold GmbH & Co. KG is one of the leading German suppli­ers of indi­vi­dual pack­a­ging solu­ti­ons made of card­board and focu­ses on the design and manu­fac­ture of folding cartons, blis­ter cards, blanks, corru­ga­ted pack­a­ging, displays and erec­ting boxes. The company is one of the largest medium-sized folding carton manu­fac­tu­r­ers and produ­ces around 1.5 million pack­a­ging solu­ti­ons daily for brand manu­fac­tu­r­ers in Germany, Europe and the USA.

“With Leupold and Water­land, we have found the ideal part­ners for our further deve­lo­p­ment. As part of a larger group, there are new oppor­tu­ni­ties for us to expand our produc­tion capa­bi­li­ties, enter new markets and further deve­lop our busi­ness model. We are looking forward to the coope­ra­tion,” says Fried­rich Bech­told, CEO of Stro­bel AG.

“The part­ner­ship with Stro­bel is a natu­ral next step on our contin­ued growth path, which we have now been able to realize with the support of Water­land,” says Michael Fuchs, one of Leupold’s mana­ging direc­tors. “Not only thanks to the geogra­phi­cal proxi­mity — Strobel’s head­quar­ters in Roth is only ten kilo­me­ters away from Leupold — this coope­ra­tion offers nume­rous poten­ti­als to bundle and further deve­lop our resour­ces and exper­tise in the areas of deve­lo­p­ment, produc­tion and sales,” adds Thomas Göll­ner, also Mana­ging Direc­tor of Leupold.

“Leupold alre­ady has a strong posi­tio­ning in the Euro­pean carton­board pack­a­ging market, which we intend to expand into market leader­ship in the areas of quality, inno­va­tion, sustaina­bi­lity and service. A buy & build stra­tegy, which we have now laun­ched with the acqui­si­tion of Stro­bel, is an essen­tial part of our growth stra­tegy. In parti­cu­lar, the high focus on sustaina­bi­lity and climate neutra­lity convin­ced us of Stro­bel as a very good fit,” says Dr. Cars­ten Rahlfs, Mana­ging Part­ner of Waterland.

About Water­land

Water­land is an inde­pen­dent private equity invest­ment firm that helps compa­nies realize their growth plans. With substan­tial finan­cial support and indus­try exper­tise, Water­land enables its port­fo­lio compa­nies to achieve acce­le­ra­ted growth both orga­ni­cally and through acqui­si­ti­ons. Water­land has offices in the Nether­lands (Bussum), Belgium (Antwerp), France (Paris), Germany (Hamburg, Munich), Poland (Warsaw), the UK (Manches­ter), Ireland (Dublin), Denmark (Copen­ha­gen) and Switz­er­land (Zurich). Curr­ently, over eight billion euros in equity funds are under management.

Water­land has consis­t­ently outper­for­med with its invest­ments since its incep­tion in 1999. The firm ranks fifth globally in the 2020 HEC/Dow Jones Private Equity Perfor­mance Rankings and eighth among global private equity firms in the 2020 Preqin Consis­tent Perfor­mers in Global Private Equity & Venture Capi­tal Report. In addi­tion, Real Deals awarded Water­land the title of “Pan-Euro­pean House of the Year 2020” at the PE Awards.

After unsuccessful IPO, WeWork wants to go public via a SPAC

WeWork has agreed to go public through a merger with blank-check firm BowX Acqui­si­tion Corp in a deal that values the office-sharing startup at $9 billion inclu­ding debt.

It marks a steep drop from the $47 billion that WeWork was valued for a listing in 2019, ahead of a botched listing plan that implo­ded due to inves­tor concerns over its busi­ness model and its foun­der Adam Neumann’s manage­ment style.

Even though WeWork has long lost billi­ons of dollars, it always found ways to attract huge invest­ments from deep-pocke­ted inves­tors. Now, less than two years after it was rescued from a collapse, the co-working company has found yet another backer willing to over­look its losses. The company announ­ced on Friday that it had agreed to merge with a blank-check firm in a deal that would give it a listing on the stock market it was denied when it was forced to shelve an initial public offe­ring as inves­tors ques­tio­ned its finan­cial strength and dubious gover­nance practices.

Instead of a tradi­tio­nal I.P.O., WeWork is merging with BowX Acqui­si­tion, a company listed on the stock exch­ange for the sole purpose of buying a busi­ness, in a type of deal that has become hugely popu­lar in recent months. Inves­tors, bankers, and even cele­bri­ties and athle­tes have rushed to float such special purpose acqui­si­tion compa­nies, or SPACs, because they offer their crea­tors a chance to mint huge profits rela­tively quickly. And merging with these vehic­les is attrac­tive to compa­nies like WeWork because they provide an express lane onto the stock market without the obsta­cles that scuttled WeWork’s public offe­ring in Septem­ber 2019.

A SPAC is a shell firm that uses proceeds from a public listing to buy a private firm and WeWork is the latest in a slew of high-profile compa­nies that have taken this route to the markets.

“There have been doubts raised about its busi­ness model, and those doubts may be diffi­cult to address in an I.P.O. road­show,” said Michael Klaus­ner, a Stan­ford busi­ness profes­sor, refer­ring to the presen­ta­ti­ons that compa­nies give to mutual funds, pension mangers and other insti­tu­tio­nal inves­tors before a public offe­ring. SPACs are “highly proble­ma­tic” because their struc­ture can encou­rage buyers to over­pay, hurting share­hol­ders in return, he said.

In 2021 only, 295 SPACs had gone public (USA, source New York Times), raising $93 billion and brea­king last year’s record in a matter of months. Because so many of these compa­nies are now out there, some have tried to use star power to get busi­nesses to enter­tain their merger offers.

WeWork said the deal with BowX gave it an equity value of $7.9 billion, far less than the nearly USD 50 billion value that its inves­tors placed on the company in 2019. WeWork will receive $1.3 billion in cash from the deal, inclu­ding $800 million from Insight Part­ners, Star­wood Capi­tal Group, Black­Rock and other investors.

WeWork will fetch $1.3 billion in cash from the latest deal, inclu­ding $800 million in private invest­ment from Insight Part­ners, funds mana­ged by Star­wood Capi­tal, Fide­lity Manage­ment and others.

Baker McKenzie advises Sino Biopharmaceutical on acquisition of Softhale

Berlin — The Chinese company Sino Biophar­maceu­ti­cal Limi­ted is buying Softhale NV. Softhale is a priva­tely held Belgian company focu­sed on the deve­lo­p­ment of products for the treat­ment of respi­ra­tory dise­a­ses. Its next-gene­ra­tion Soft Mist Inha­la­tion (“SMI”) device is based on diffe­ren­tia­ted tech­no­logy and enables more effi­ci­ent drug depo­si­tion in the lungs.

The tran­sac­tion volume is USD 110 million and addi­tio­nal payments rela­ted to regu­la­tory and commer­cial milestones.

An inter­na­tio­nal team of Baker McKen­zie lawy­ers provi­ded compre­hen­sive advice to Sino Biophar­maceu­ti­cal Limi­ted on all legal and regu­la­tory aspects of the tran­sac­tion, with the agree­ment gover­ned by German law. The M&A nego­tia­ti­ons were led by Dr. Thors­ten Seidel in Berlin. The due dili­gence on the Belgian company was led by Baker McKen­zie Brussels under the leader­ship of Domi­ni­que Maes.

“With the successful closing of the tran­sac­tion, we were able to support our client in the imple­men­ta­tion of its growth stra­tegy. With this acqui­si­tion, our client gains a stra­te­gic hub in Europe on its way to beco­ming a major deve­lo­per of inno­va­tive respi­ra­tory products for China and the global market,” commen­ted Dr. Thors­ten Seidel, Part­ner Baker McKenzie.

Sino Biophar­maceu­ti­cal, toge­ther with its subsi­dia­ries, is a leading inno­va­tive rese­arch and deve­lo­p­ment (“R&D”) focu­sed phar­maceu­ti­cal conglo­me­rate in China. Sino Biopharmaceutical’s busi­ness compri­ses a fully inte­gra­ted chain of phar­maceu­ti­cal products that includes a number of inno­va­tive R&D plat­forms and pipe­lines, a range of smart manu­fac­tu­ring faci­li­ties, and a strong distri­bu­tion infrastructure.

Softhale is a Belgian phar­maceu­ti­cal company specia­li­zing in the deve­lo­p­ment of SMI (Soft Mist Inha­la­tion) devices (vapor inha­lers) and rela­ted phar­maceu­ti­cal products for the deli­very of drugs to the lungs.

Baker McKenzie’s global Corporate/M&A team advi­ses on more cross-border tran­sac­tions than any other law firm. Most recently, Baker McKen­zie advi­sed Para­gon on the sale of Novu­mIP to Ques­tel Group, TA Asso­cia­tes on the acqui­si­tion of a majo­rity stake in IGEL, Embra­cer on the acqui­si­tion of Easy­brain Limi­ted, SK Tele­com on a joint venture with Deut­sche Tele­kom, Chr. Hansen Holding A/S in its acqui­si­tion of Jenne­wein Biotech­no­lo­gie GmbH, DBAG in an invest­ment in conga­tec Holding AG, SAP in the sale of its SAP Digi­tal Inter­con­nect commu­ni­ca­ti­ons unit to Sinch AB, Air Liquide in the sale of the Schülke Group to Swedish finan­cial inves­tor EQT, METRO AG in the sale of its China busi­ness and the estab­lish­ment of a stra­te­gic part­ner­ship with Wumei, Bayer AG in the sale of its majo­rity stake in chemi­cal park opera­tor Currenta, and Evonik in the sale of its methacry­la­tes group to Advent International.

Legal advi­sor Sino Biophar­maceu­ti­cal Limi­ted: Baker McKenzie
Lead: Corporate/M&A: Dr. Thors­ten Seidel (Part­ner, Berlin)
Other lawy­ers invol­ved: Corporate/M&A: Domi­ni­que Maes (Part­ner, Brussels), Kim Stas (Coun­sel, Brussels), Derek Poon (Part­ner, Hong Kong), Bruno Schroé (Asso­ciate, Brussels), Holger Engel­kamp (Coun­sel, Berlin)
Employ­ment: Dr. Matthias Köhler (Part­ner, Berlin), Tatjana Serbina (Asso­ciate, Berlin)
IP: Dr. Rembert Niebel (Part­ner, Frankfurt)

About Baker McKenzie

Baker McKen­zie advi­ses clients to successfully deal with the chal­lenges of globa­liza­tion. We solve complex legal problems across natio­nal borders and legal fields. Our unique culture — grown over 70 years — enables our 13,000 employees to under­stand local markets while opera­ting inter­na­tio­nally. We use the trus­ting and friendly coope­ra­tion in our inter­na­tio­nal network for the bene­fit of our clients.

In Germany, around 200 lawy­ers with proven profes­sio­nal exper­tise and inter­na­tio­nal expe­ri­ence repre­sent the inte­rests of their clients at the offices in Berlin, Düssel­dorf, Frankfurt/Main and Munich. As one of the leading German law firms, Baker McKen­zie advi­ses natio­nal and inter­na­tio­nal compa­nies and insti­tu­ti­ons in all areas of commer­cial law.

Vorwerk hydrogen plant

Successful IPO of Friedrich Vorwerk Group SE on Frankfurt Stock Exchange

Frank­furt a.M. — McDer­mott Will & Emery advi­ses Fried­rich Vorwerk Group SE on its successful IPO in the Prime Stan­dard segment of the Frank­furt Stock Exchange.

A total of 9.2 million shares were placed at a price of 45 euros per share. Of this amount, 2.0 million came from a capi­tal increase and 6.0 million from the holdings of the exis­ting share­hol­ders MBB SE and ALX Betei­li­gungs­ge­sell­schaft mbH. In addi­tion, 1.2 million shares were allot­ted to exis­ting share­hol­ders under an over-allot­ment option. The total place­ment volume thus amounts to 414 million euros. The first day of trading on the Regu­la­ted Market of the Frank­furt Stock Exch­ange is expec­ted to be March 25, 2021.

The IPO was supported by Beren­berg and Jeffe­ries as Joint Global Coor­di­na­tors and by Hauck & Aufhäu­ser as Joint Bookrunner.

“The IPO gives us the oppor­tu­nity to play a decisive role in shaping the energy tran­si­tion and, in parti­cu­lar, to expand in the growing markets for hydro­gen and the expan­sion of elec­tri­city high­ways,” says Torben Klein­feldt, CEO of the Vorwerk Group and share­hol­der, explai­ning the company’s decis­ion to go public.

Fried­rich Vorwerk is a leading provi­der of energy infra­struc­ture solu­ti­ons for gas, elec­tri­city and hydro­gen appli­ca­ti­ons. Fried­rich Vorwerk plans to use the gross proceeds of 90 million euros from the newly issued shares to signi­fi­cantly expand its busi­ness over the next few years, parti­cu­larly in the areas of elec­tri­city and clean hydrogen.

McDer­mott has a long-stan­ding client rela­ti­onship with the medium-sized, family-owned invest­ment company MBB SE. McDer­mott alre­ady advi­sed MBB subsi­diary Aumann AG on its IPO in 2017.

Advi­sors to Fried­rich Vorwerk Group SE: McDer­mott Will & Emery, Frankfurt
Simon Weiß, Joseph W. Marx (both Capi­tal Markets, both Lead), Dr. Phil­ipp Gren­ze­bach (Corpo­rate, Düssel­dorf), Edwin C. Lauren­son (Senior Coun­sel, Capi­tal Markets, San Francisco/New York); Asso­cia­tes: Isabelle Müller, Elena Platte, LL.M., Chris­toph Schä­fer, Tom Schä­fer (all Corporate)

About McDer­mott Will & Emery
McDer­mott Will & Emery is a leading inter­na­tio­nal law firm. With over 1,200 attor­neys, we are repre­sen­ted in 21 loca­ti­ons world­wide: Atlanta, Boston, Brussels, Chicago, Dallas, Düssel­dorf, Frank­furt a. M., Hous­ton, Colo­gne, London, Los Ange­les, Miami, Milan, Munich, New York, Orange County, Paris, San Fran­cisco, Sili­con Valley, Washing­ton, D.C. and Wilm­ing­ton. The German prac­tice is mana­ged by McDer­mott Will & Emery Rechts­an­wälte Steu­er­be­ra­ter LLP.

Joachim Braun, Silverfleet Capital

Silverfleet acquires ec4u and BULPROS

Frank­furt a. Main — ec4u and BULPROS join forces under the majo­rity parti­ci­pa­tion of Silver­fleet Capi­tal to offer their custo­mers a new gene­ra­tion of digi­tal cloud expe­ri­ence services. Shear­man & Ster­ling advi­sed Silver­fleet Capi­tal on the finan­cing provi­ded by Ares for the acqui­si­tion of ec4u and BULPROS.

ec4u and BULPROS join forces to offer their custo­mers a new gene­ra­tion of digi­tal cloud expe­ri­ence services. The joint plat­form will employ around 1,400 people at 25 sites in a total of eleven countries.

ec4u, head­quar­te­red in Karls­ruhe, and BULPROS, head­quar­te­red in Sofia, Bulga­ria, have alre­ady been working toge­ther as part­ners in the field of digi­tal cloud solu­ti­ons since 2018. The foun­ders and exis­ting manage­ment teams of both compa­nies will remain on board as share­hol­ders and will conti­nue to manage the merged company. The merger is subject to the custo­mary regu­la­tory approval.

ec4u was foun­ded in 2000 and specia­li­zes in the digi­tal trans­for­ma­tion of busi­ness-criti­cal proces­ses in the areas of marke­ting, sales, service and e‑commerce across the entire custo­mer life­cy­cle. The company offers its custo­mers consul­ting services, tech­ni­cal imple­men­ta­tion, and ongo­ing deve­lo­p­ment and opera­tion of CRM systems. ec4u has successfully comple­ted a total of more than 800 trans­for­ma­tion projects, prima­rily in Germany, Austria and Switz­er­land. The company employs more than 400 experts at seve­ral Euro­pean locations.

BULPROS, foun­ded in 2010, is a provi­der of digi­tal trans­for­ma­tion services. This includes digi­tal solu­ti­ons imple­men­ta­tion, cyber­se­cu­rity, cloud migra­tion and mana­ged services, and tech­no­logy services. BULPROS opera­tes world­wide and employs more than 1,000 people at 20 loca­ti­ons in Europe and North America. The company has been named as one of the fastest growing tech­no­logy compa­nies by leading indus­try analysts — inclu­ding Deloitte’s Tech­no­logy Fast 50 in CE report and the Finan­cial Times 100 Europe.

In addi­tion to their highly compe­ti­tive service port­fo­lios and the high level of exper­tise of their employees, the two compa­nies also have strong rela­ti­onships with stra­te­gic tech­no­logy part­ners such as Sales­force, Micro­soft, SAP, Oracle, IBM, Cisco and Snowflake.

The invest­ment in ec4u and BULPROS builds on Silver­fleet Capital’s exten­sive expe­ri­ence with compa­nies in the tech­no­logy sector: Tech­no­lo­gi­cal change is a key macro trend under­pin­ning Silver­fleet Capital’s invest­ment approach. The private equity firm’s recent invest­ments include Trust­Quay, a provi­der of trust, corpo­rate and fund admi­nis­tra­tion services, and Coll­ec­tia, a credit manage­ment services plat­form. Previous successful invest­ments in this area include Phase One, Ipes and TMF.

“ec4u and BULPROS are leaders in the market for cloud-based, digi­tal solu­ti­ons for enter­pri­ses. This is a market that is very attrac­tive and offers high growth poten­tial. We are plea­sed to be able to support them in the future to fully exploit this poten­tial,” comm­ents Dr. Chris­tian Süss, Part­ner at Silver­fleet Capi­tal.

“Both ec4u and BULPROS have strong stra­te­gic part­ner­ships with the leading play­ers in the digi­tal plat­form space. We will support both compa­nies in explo­ring further coope­ra­tion and expan­sion oppor­tu­ni­ties,” adds Joachim Braun (photo), Part­ner at Silver­fleet Capi­tal.

At Silver­fleet, Dr. Chris­tian Süss, Joachim Braun, Benja­min Hubner and Jenni­fer Regehr were respon­si­ble for the tran­sac­tion. The invest­ment company was advi­sed on the tran­sac­tion by Latham & Watkins (Corpo­rate & Tax Legal), Shear­man & Ster­ling (Finance Legal), Nauta­Du­tilh (Legal), PwC (Finan­cial), wdp (IT), Grant Thorn­ton (Tax), Kambou­rov (Legal), Noerr (Legal), Schön­herr (Legal), Bär & Karrer (Legal), Kear­ney (Commer­cial) and MD Advi­sors (Debt Advi­sory). Funding was provi­ded by Ares.

About Silver­fleet Capital
Silver­fleet Capi­tal is an inde­pen­dent pan-Euro­pean private equity firm that invests in middle-market compa­nies and is a long-stan­ding client of Shear­man & Sterling.

The Shear­man & Ster­ling team led by part­ner Winfried M. Carli included asso­cia­tes Andreas Breu and Daniel Wagner (all 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. For more infor­ma­tion, visit

Dr. Franz Tepper, Brandi

BRANDI advises Miele on majority stake in Otto Wilde Grillers

Güters­loh — House­hold and commer­cial appli­ance manu­fac­tu­rer Miele has acqui­red a majo­rity stake in Otto Wilde Gril­lers GmbH, a leading manu­fac­tu­rer of grills. Miele was advi­sed on the tran­sac­tion by a cross-loca­tion M&A team from the law firm BRANDI Rechts­an­wälte, led by Güters­loh part­ners Dr. Franz Tepper (photo) and Dr. Cars­ten Chris­to­phery. The tran­sac­tion was carried out by way of a share deal. The parties have agreed not to disc­lose the purchase price.

By acqui­ring 75.1% of the shares in the specia­list for gas barbe­cu­e­ing, the world-renow­ned Miele house­hold appli­ance group is further expan­ding its exper­tise in the field of outdoor cooking. In addi­tion to expan­ding the port­fo­lio, further inter­na­tio­na­liza­tion is on the joint agenda.

Foun­ded in 2015 in Düssel­dorf, Germany, the family-owned company Otto Wilde Gril­lers deve­lops, builds and sells high-end grills along with access­ories. The devices are produ­ced by manu­fac­tu­ring part­ners in Germany and China. The company curr­ently employs 30 people.

Miele has many years of exper­tise in the deve­lo­p­ment, produc­tion and global marke­ting of premium built-in appliances.

BRANDI Rechts­an­wälte conti­nuously advi­ses Miele on tran­sac­tions and corpo­rate law issues, in parti­cu­lar on invest­ments in and acqui­si­ti­ons of start-ups. The advice on the invest­ment in Otto Wilde Gril­lers covered the due dili­gence, the purchase agree­ment, the invest­ment agree­ment and the nego­tia­ti­ons in the context of the transaction.

Advi­sors to Otto Wilde Gril­lers: LACORE Rechts­an­wälte, Berlin

Advi­sor Miele: BRANDI Attor­neys Gütersloh/Paderborn/Bielefeld
Dr. Franz Tepper (photo), Part­ner (Co-Lead, Corporate/M&A), Gütersloh
Dr. Cars­ten Chris­to­phery, Part­ner (Co-Lead, Corporate/M&A), Gütersloh
Dr. Nils Wigging­haus, Part­ner (Corporate/M&A), Gütersloh
Eva-Maria Gott­schalk, Part­ner (Corporate/M&A), Gütersloh
Dr. Sörren Kiene, Part­ner (Commer­cial), Gütersloh
Dr. Sandra Vyas, Part­ner (Employ­ment Law), Paderborn
Dr. Chris­toph Rempe, Part­ner (IP/IT, Anti­trust Law), Bielefeld
Meike Pott­hast, Asso­ciate (Labor Law), Paderborn

Advi­sors to Otto Wilde Gril­lers GmbH: LACORE Rechts­an­wälte, Berlin
Nata­lie Vahsen, Part­ner (Corporate/M&A)
Stefa­nie Berges, Asso­ciate (Corporate/M&A)
Paola Leiva, Asso­ciate (Corporate/M&A)

DLA Piper advises TRUMPF Group on acquisition of Lantek Group

Hamburg — DLA Piper has advi­sed Germany-based multi­na­tio­nal TRUMPF Group on the acqui­si­tion of the global busi­ness of Lantek Sheet Metal Solutions.

TRUMPF is one of the world’s leading compa­nies for machine tools, lasers and elec­tro­nics for indus­trial appli­ca­ti­ons. In fiscal 2019/20, the company gene­ra­ted sales of 3.5 billion euros with around 14,300 employees.

Lantek is a leading global provi­der of soft­ware systems and solu­ti­ons for compa­nies in the sheet metal working sector, and is repre­sen­ted in 14 countries.

The inter­na­tio­nal DLA Piper team on this tran­sac­tion was led jointly by part­ner Teresa Zueco (Corpo­rate, Madrid) and the German Coun­try Mana­ging Part­ner Dr. Benja­min Para­mes­wa­ran, Photo (Corporate/M&A, Hamburg) — who is also DLA Piper’s global Client Rela­ti­onship Part­ner for the TRUMPF Group — supported by a core team consis­ting of Corpo­rate Asso­cia­tes Héctor Gómez, Alejan­dra Casta­ñeda and Carlos Fuerte (all Madrid). DLA Piper’s cross-border team also included colle­agues from more than ten juris­dic­tions, inclu­ding the UK, the US, France, Germany and China.

TRUMPF was advi­sed in-house by Dewi Kusuma (in-house counsel).

About DLA Piper

DLA Piper is one of the world’s leading commer­cial law firms, with offices in more than 40 count­ries in Africa, Asia, Austra­lia, Europe, the Middle East, and North and South America. In Germany, DLA Piper is repre­sen­ted by more than 250 lawy­ers at its offices in Frank­furt, Hamburg, Colo­gne and Munich. In certain juris­dic­tions, this infor­ma­tion may be conside­red attor­ney adver­ti­sing.

Jens Schmelt

Stein Media Group acquires trade media specialist ims

Hamburg / Werl — Menold Bezler has advi­sed the specia­list and retail book­sel­ler A. Stein’sche Medi­en­gruppe GmbH from Werl on the acqui­si­tion of ims Inter­na­tio­na­ler Medien Service GmbH & Co. KG based in Hamburg.

The A. Stein’sche Medi­en­gruppe, which has been in exis­tence since 1713, is thus conti­nuing its stra­te­gic expan­sion stra­tegy and further expan­ding its B2B busi­ness in parti­cu­lar. With the take­over, the loca­tion in Hamburg with 42 jobs as well as the company name will be retai­ned. The manage­ment will be taken over jointly by the current Mana­ging Direc­tor Phil­ipp Woer­mann and Alex­an­der Stein, Mana­ging Part­ner of A. Stein’sche Mediengruppe.

ims was foun­ded in 2007 as a joint venture between Axel Sprin­ger and the press whole­sa­ler PVG Group GmbH & Co. KG and was a subsi­diary of the PVG Group from 2015. The busi­ness acti­vi­ties cover the area of analog and digi­tal specia­list media procu­re­ment and use in compa­nies and the public sector.

Follo­wing the acqui­si­tion of Haufe Disco­very (now LSL) and Thieme subsi­diary froh­berg in 2020, Menold Bezler also provi­ded legal and tax advice to A. Stein’sche Medi­en­gruppe in connec­tion with this transaction.

Advi­sors to A. Stein’sche Medi­en­gruppe GmbH: Menold Bezler (Stutt­gart)
Jens Schmelt, Photo (Part­ner, Corporate/M&A), Nico Haldy (Part­ner), Clemens Mauch (both Tax)

About Menold Bezler
Menold Bezler is a part­ner­ship-struc­tu­red commer­cial law firm based in Stutt­gart. More than 120 profes­sio­nals offer legal advice, tax advice, audi­ting and busi­ness manage­ment advice from a single source. Our clients include well-known medium-sized compa­nies, listed corpo­ra­ti­ons, the public sector and its compa­nies as well as non-profit orga­niza­ti­ons. More at

Goodwin advises browser vendor Brave on acquisition of Tailcat

Frank­furt a.M. — The brow­ser provi­der Brave has acqui­red the search engine Tail­cat. Tail­cat is an open search engine built on an inde­pen­dent index that does not coll­ect IP addres­ses or use perso­nal data to improve search results.

Tail­cat was deve­lo­ped by the team previously respon­si­ble for the search and brow­ser products at Cliqz, a Hubert Burda Media holding.

Tail­cat is inten­ded to act as the foun­da­tion for Brave Search. Brave Search and the Brave brow­ser provide an inde­pen­dent, privacy-friendly alter­na­tive to big-tech brow­sers and search engines.

Advi­sor Brave Soft­ware, Inc.: Good­win, Frank­furt a.M./Silicon Valley
Gregor Klenk, Photo (Part­ner, Private Equity, Frank­furt), Anthony J. McCus­ker (Part­ner, Tech­no­logy, Sili­con Valley; both Lead), Heiko Penn­dorf (Part­ner, Tax, Frank­furt), Caro­lin Kefer­stein (Asso­ciate, Private Equity, Frank­furt), Chris­tina Papa­di­mi­triou (Asso­ciate, Private Equity, Frank­furt), Eliza­beth Tele­fus (Asso­ciate, Tech­no­logy, Sili­con Valley)

Arcaris takes over MAGRO fasteners

Düssel­dorf — The invest­ment company Arca­ris takes over MAGRO Verbin­dungs­ele­mente GmbH as part of the company’s succes­sion. The sole share­hol­der of MAGRO was advi­sed by GvW Graf von West­pha­len on the sale to Arcaris.

MAGRO is a medium-sized family busi­ness based in Wupper­tal. Specia­li­zing in the procu­re­ment and logi­stics of indus­trial fasten­ers, the company supplies the auto­mo­tive and mecha­ni­cal engi­nee­ring indus­tries in parti­cu­lar with appli­ca­ti­ons such as turned, milled and pres­sed parts.

Arca­ris Manage­ment GmbH is an inde­pen­dent invest­ment company foun­ded by entre­pre­neurs. Through them, a broad network of entre­pre­neurs and entre­pre­neu­rial fami­lies invests in German SMEs. Arca­ris exclu­si­vely repres­ents long-term orien­ted inves­tors who support their invest­ments in many ways as part­ners and assume respon­si­bi­lity. The focus of these invest­ments is on the manu­fac­tu­ring and service sectors.

Advi­sor to Magro: GvW Graf von Westphalen
GvW advi­sed the family-owned company through a Frank­furt team consis­ting of Titus Walek (lead), Jan Hüni­ken (both M&A), Andrea Torka (real estate law), Kars­ten Kujath (labor law), Dr. Frank Tsche­sche and Soufian Hjiri (both tax law).

About Graf von Westphalen
GvW is a part­ner­ship of 160 lawy­ers and tax advi­sors. With offices in Berlin, Düssel­dorf, Frank­furt am Main, Hamburg, Munich, Stutt­gart and foreign offices/representative offices in Brussels, Istan­bul and Shang­hai, the firm is one of the largest inde­pen­dent law firms in Germany.

Lakestar SPAC 1 SE: IPO on the Frankfurt Stock Exchange

Luxem­bourg — The public shares of Lake­star SPAC 1 SE, the first so-called Special Purpose Acqui­si­tion Company (SPAC) focu­sed on an acqui­si­tion in the tech­no­logy sector in Europe, have been admit­ted to the regu­la­ted market of the Frank­furt Stock Exch­ange (Gene­ral Stan­dard) on Monday. In addi­tion, SPAC’s public warrants were intro­du­ced to the over-the-coun­ter market at Börse Frank­furt Zerti­fi­kate AG. — The spon­sors of Lake­star SPAC 1 SE were advi­sed on the IPO by a team from the inter­na­tio­nal law firm Arendt & Meder­nach specia­li­zing in capi­tal market tran­sac­tions, led by part­ners Alex­an­der Olli­ges and Fran­çois Warken.

Within two days, Luxem­bourg-based Lake­star SPAC I SE raised EUR 275 million from insti­tu­tio­nal inves­tors. It is the first shell company of its kind in Germany in more than ten years. SPAC has two years to iden­tify and buy one or more promi­sing tech compa­nies. The focus is on publicly traded compa­nies worth between EUR 750 million and EUR 4 billion.

The pros­pec­tus was appro­ved in Luxem­bourg on Febru­ary 19, 2021 by the Commis­sion de Surveil­lance du Secteur Finan­cier (CSSF) in its capa­city as compe­tent autho­rity. In addi­tion, Lake­star SPAC 1 SE has issued spon­sor shares and spon­sor warrants. This tran­sac­tion is expec­ted to pave the way for the come­back of other Luxem­bourg-based SPACs on Euro­pean stock exchanges.

The SPAC as an alter­na­tive invest­ment oppor­tu­nity and alter­na­tive to going public

A SPAC is an acqui­si­tion vehicle typi­cally formed by profes­sio­nals in a parti­cu­lar field (such as in the case of Lake­star SPAC 1 SE tech­no­logy). The primary objec­tive is to acquire, through a busi­ness combi­na­tion, an opera­ting company or group that is often itself in the early stages of an IPO. Such an acqui­si­tion will be finan­ced by SPAC’s capi­tal raising in the course of its own IPO. Proceeds raised in this manner are held in an escrow account for quick deploy­ment when needed. Once a poten­tial acqui­si­tion target has been iden­ti­fied, the busi­ness combi­na­tion must be appro­ved by a majo­rity of the votes cast at a share­hol­ders’ meeting of the SPAC and, as a rule, comple­ted within a period of two years from its listing. Other­wise, the SPAC will be liquidated.

SPAC’s public share­hol­ders thus have the oppor­tu­nity to invest directly in an acqui­si­tion vehicle while enjoy­ing the legal guaran­tees of a listed company: regu­la­tion and trans­pa­rency, as well as the right to have a say in the busi­ness combi­na­tion. If this is appro­ved, the public share­hol­ders who do not approve of the plan­ned busi­ness combi­na­tion can demand the repurchase of their shares. For the target company, the busi­ness combi­na­tion repres­ents an attrac­tive alter­na­tive to a tradi­tio­nal IPO of its own.

New poten­tial for Luxembourg

The launch of Luxembourg’s first SPAC in more than a decade points to attrac­tive oppor­tu­ni­ties for Europe and Luxem­bourg alike. Thanks to its busi­ness-friendly envi­ron­ment, invest­ment focus and specia­li­zed regu­la­tory autho­ri­ties, Luxem­bourg is ideally posi­tio­ned as a loca­tion for laun­ching SPACs. Expert assis­tance in areas speci­fic to SPAC forma­tion (inclu­ding capi­tal markets regu­la­tion, corpo­rate law, M&A, and tax) is essen­tial to the successful forma­tion of a SPAC.

“SPAC offers a new way of going public that meets today’s desire for effi­ci­ency and shor­tened time-to-market,” explains Fran­çois Warken, part­ner and head of Arendt & Medernach’s capi­tal markets law prac­tice in Luxem­bourg. “Lake­star SPAC 1 SE is also a very apt exam­ple of the versa­ti­lity of Luxem­bourg company law and rele­vant corpo­rate gover­nance rules, which allow the key features of a U.S. SPAC to be accu­ra­tely repli­ca­ted in a Luxem­bourg company while fully comply­ing with EU secu­ri­ties and stock exch­ange regulations.”

“This type of acqui­si­tion is a great oppor­tu­nity for Luxem­bourg: right in the heart of Europe and also with good access to all major Euro­pean stock exch­an­ges,” empha­si­zes Alex­an­der Olli­ges, Part­ner in Arendt & Medernach’s Corporate/M&A prac­tice in Luxem­bourg. “The acces­si­bi­lity of the regu­la­tor and its know­ledge of the product and condi­ti­ons, the flexi­bi­lity of Luxem­bourg company law in imple­men­ting market condi­ti­ons for a SPAC and the unique inter­na­tio­nal envi­ron­ment allow projects to be reali­zed quickly — espe­ci­ally in the field of tech­no­logy and inno­va­tion, as we have seen in the case of Lake­star SPAC 1 SE.”

The team of Arendt & Meder­nach was compo­sed of Alex­an­der Olli­ges (Part­ner, Lead Corpo­rate), Fran­çois Warken (Part­ner, Lead Capi­tal Markets) and Jan Neuge­bauer (Part­ner, Tax) as well as Senior Asso­cia­tes Noémi Gémesi (Capi­tal Markets) and Maria Gros­busch (Corpo­rate) on the side of Lake­star SPAC 1 SE.

The IPO in Frank­furt was hand­led by the law firm Sulli­van & Crom­well under the leader­ship of part­ner Dr. Cars­ten Berrar.

About Arendt & Medernach

Arendt & Meder­nach is the leading and inde­pen­dent law firm in Luxem­bourg. The firm’s inter­na­tio­nal team of more than 350 lawy­ers and attor­neys specia­li­zes in provi­ding legal advice and legal repre­sen­ta­tion to Luxem­bourg and foreign clients in the area of finan­cial and commer­cial law. Arendt & Meder­nach has offices in Luxem­bourg, Dubai, Hong Kong, London, Moscow, Paris and New York. In Decem­ber 2020, the firm was named Euro­pean Law Firm of the Year and Law Firm of the Year for Bene­lux by The Lawyer magazine.

MBI: ARQIS accompanies sale of forcont during succession process

Munich/ Leip­zig — ARQIS advi­sed the former share­hol­ders of the Leip­zig-based IT company forcont busi­ness tech­no­logy gmbh on the sale of all shares. With the sale, the former share­hol­ders Christa Gaud­litz, Matthias Kunisch and Invent­ment GmbH — who foun­ded the company 30 years ago — were able to imple­ment a succes­sion plan that ensu­res the inde­pen­dence, contin­ued exis­tence and further growth of the Leip­zig IT company.

The acqui­rer group of forcont consists of Matthias Koch, who initia­ted the acqui­si­tion as a manage­ment buy-in (MBI), WMS Wachs­tums­fonds Mittel­stand Sach­sen (repre­sen­ted by Thomas Tetten­born), and Thomas Fahrig, one of the previous mana­ging direc­tors of forcont. Matthias Koch, who as the new mana­ging part­ner will be the entre­pre­neu­rial head of forcont, has been active as a mana­ger in the ECM indus­try in German-spea­king count­ries for more than 20 years. In addi­tion to forcont Mana­ging Direc­tor Thomas Fahrig, autho­ri­zed signa­tory Achim Anhalt and the entire manage­ment team will conti­nue their successful work.

Foun­ded as IXOS Anwen­dungs-Soft­ware GmbH, the company offers stan­dar­di­zed ECM products, prima­rily for digi­tal person­nel and contract manage­ment as well as indi­vi­dual file solu­ti­ons. The appro­xi­m­ately 400 custo­mers include the ALBA Group and Deut­sche Wohnen SE.

The ARQIS team around Prof. Dr. Chris­toph von Einem (photo) regu­larly accom­pa­nies tech­no­logy-rela­ted M&A tran­sac­tions and company succes­si­ons. In 2018, for exam­ple, it also advi­sed the share­hol­ders of IT secu­rity and cloud provi­der Brain­loop AG on its sale to US compe­ti­tor Dili­gent. The largest share­hol­der there was also Invent­ment GmbH, with whose sole share­hol­der von Einem has enjoyed deca­des of close, trus­ting cooperation.

Advi­sor to former share­hol­ders of forcont: ARQIS (Munich)
Prof. Dr. Chris­toph von Einem (Lead; of Coun­sel), Dr. Mauritz von Einem (Co-Lead; both Corporate/M&A), Marcus Noth­hel­fer (IP); Coun­sel: Tanja Kurt­zer (Pensi­ons); Asso­cia­tes: Benja­min Bandur (Corporate/M&A), Martin Wein­gärt­ner (Düssel­dorf; Pensions)

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. For more infor­ma­tion, visit

Bastei Lübbe restructures corporate financing with NCF

Colo­gne — NETWORK Corpo­rate Finance (NCF) advi­sed the Execu­tive Board of Bastei Lübbe AG on the restruc­tu­ring of its entire corpo­rate finan­cing, inclu­ding an acqui­si­tion finan­cing for the purchase of the “smar­ti­cu­lar” publi­shing house.

As part of this restruc­tu­ring of Bastei Lübbe AG’s corpo­rate finan­cing, the entire debt finan­cing was aligned for the long term and supple­men­ted by acqui­si­tion finan­cing for the purchase of the publi­shing house “smar­ti­cu­lar”, which specia­li­zes in sustaina­bi­lity. This allo­wed the old, very complex syndi­ca­ted finan­cing to be repla­ced by flexi­ble, cost-effec­tive finan­cing on a bila­te­ral basis.

About Bastei Lübbe AG
Listed Bastei Lübbe AG is one of Germany’s largest and best-known publi­shing houses, specia­li­zing in the publi­ca­tion of books, audio books, and e‑books with fiction and popu­lar science content, as well as peri­odi­cal novel issues. Inter­na­tio­nal and natio­nal best­sel­ling authors such as Ken Follett, Dan Brown, Jeff Kinney, Rebecca Gablé, Petra Hüls­mann, Andreas Esch­bach, Timur Vermes and many more have been publi­shing their books at the Colo­gne publi­shing house, in some cases for deca­des. With the acqui­si­tion of “smar­ti­cu­lar,” Bastei Lübbe AG is expan­ding and supple­men­ting its content on the topic of sustaina­bi­lity.

About NCF
Network Corpo­rate Finance is an inde­pen­dent, owner-mana­ged advi­sory firm focu­sed on mergers and acqui­si­ti­ons, capi­tal markets tran­sac­tions, and equity and debt finan­cing. We advise both estab­lished and young compa­nies in a wide range of indus­tries. With our team of more than 20 employees at our offices in Düssel­dorf, Berlin and Frank­furt, we have estab­lished oursel­ves as one of the most successful inde­pen­dent corpo­rate finance consul­ting firms in Germany since our foun­da­tion in 2002.

KRAHN Chemie acquires six companies from Jollis AB & Partners

Hamburg — DLA Piper has advi­sed Hamburg-based KRAHN Chemie Group, part of the globally active Otto Krahn Group, on the acqui­si­tion of majo­rity stakes in six compa­nies from Jollis AB & Part­ners, Sweden. In order to bundle the new acti­vi­ties, KRAHN Nordics AB was foun­ded, in which KRAHN Chemie holds the majo­rity with the parti­ci­pa­tion of some of the previous owners of the acqui­red compa­nies. With annual sales of appro­xi­m­ately EUR 1.3 billion, the Otto Krahn Group has around 1,600 employees at 36 loca­ti­ons worldwide.

The acqui­red compa­nies include Gothen­burg-based AmphoChem AB, a leading Scan­di­na­vian distri­bu­tor of indus­trial chemi­cals, addi­ti­ves as well as specialty chemi­cals, and Pemco Addi­ti­ves AB, another leading Scan­di­na­vian distri­bu­tor active in the fuel, lubri­cants and petro­che­mi­cal industries.

In addi­tion, the tran­sac­tion included the indi­rect acqui­si­tion of shares in Temper Tech­no­logy AB, Gothen­burg, which produ­ces sustainable and energy-effi­ci­ent heat trans­fer fluids and anti­freeze, BGM Logi­stics AB, Gothen­burg, a provi­der of logi­stics solu­ti­ons for warehousing, third-party logi­stics and distri­bu­tion in Sweden, and Pemco-Trigue­ros Addi­ti­ves Spain S.L., Alicante, which covers the distri­bu­tion of addi­ti­ves and base oils for use in fuels, indus­trial and auto­mo­tive formu­la­ti­ons in Spain.

In the course of the tran­sac­tion, KRAHN Chemie also acqui­red 100% of Petrico Ltd., Sand­bach, England, in which Pemco Addi­ti­ves AB was previously the indi­rect majo­rity owner. Petrico distri­bu­tes highly specia­li­zed petro­leum products and chemi­cal products for the lubri­cants and addi­ti­ves industry.

DLA Piper, under the lead manage­ment of Sebas­tian Decker (photo)In recent years, we have successfully advi­sed the Otto Krahn Group on various natio­nal and inter­na­tio­nal tran­sac­tions, most recently on the acqui­si­tion of shares in the Greek company Inter­Ac­tive S.A. at the begin­ning of 2020 and previously on the acqui­si­tion of eMBe by KRAHN Chemie as well as on the acqui­si­tion of the WIPAG Group by ALBIS PLASTIC and its joint venture with William Barnet & Son in the USA.

“Sebas­tian Decker and his team are very prudent and thorough, yet prag­ma­tic and respon­sive, even in complex tran­sac­tions. The team­work within the DLA team and with the client is outstan­ding and the willing­ness and ability to get invol­ved in the — also commer­cial — details of a tran­sac­tion are parti­cu­larly note­wor­thy” says Axel Sebbesse, Chief Deve­lo­p­ment Offi­cer and Head of M&A at Otto Krahn Group.

The inter­na­tio­nal team of DLA Piper was under the joint lead of part­ner Sebas­tian Decker and senior asso­ciate Sophie von Mandels­loh (both Corporate/M&A, Hamburg). Also present from the Frank­furt office were Part­ner Semin O, Coun­sel Sergej Bräuer and Asso­ciate Alex­an­der Rösch (all Anti­trust), from Leeds, UK, Part­ners Andrew Davies (Corpo­rate) and Jane Hannon (Employ­ment) and Asso­cia­tes Simon Winterburn (Corpo­rate) and Char­lotte Need­ham (Employ­ment), from Stock­holm, Sweden, part­ners Magnus Oskars­son (Corpo­rate) and Björn Rustare (Employ­ment), senior asso­ciate Kris­tina Stavne and asso­ciate Björn Torsteins­rud (both Corpo­rate), and from the Madrid, Spain, office, legal direc­tor Remei Sanchez and asso­ciate Maria Gutier­rez (both Corporate).

The in-house team of the Otto Krahn Group was led by Axel Sebbesse (Chief Deve­lo­p­ment Offi­cer and Head of M&A) and Fabian Maerz (Direc­tor Tax & Legal).

About DLA Piper

DLA Piper is one of the world’s leading commer­cial law firms, with offices in more than 40 count­ries in Africa, Asia, Austra­lia, Europe, the Middle East, and North and South America. In Germany, DLA Piper is repre­sen­ted by more than 250 lawy­ers at its offices in Frank­furt, Hamburg, Colo­gne and Munich. In certain juris­dic­tions, this infor­ma­tion may be conside­red attor­ney adver­ti­sing. For more infor­ma­tion, visit:

Proventis Partners

Bilfinger sells Bilfinger GreyLogix Aqua to SCIO Automation

Hamburg — SCIO Auto­ma­tion GmbH (“SCIO”), a port­fo­lio company of the funds advi­sed by Quadriga Capi­tal Eigen­ka­pi­tal­be­ra­tung GmbH, acqui­res Bilfin­ger Grey­Lo­gix Aqua GmbH (“Aqua”), a subsi­diary of Bilfin­ger Grey­Lo­gix GmbH. Proven­tis Part­ners supported Bilfin­ger and the two mana­ging part­ners throug­hout the entire M&A process.

SCIO takes over all shares of the previous Aqua main share­hol­der Bilfin­ger Grey­Lo­gix GmbH. The two other mana­ging part­ners of Aqua will conti­nue to hold shares in the company in the future. In the future, the company will operate under the brand name VESCON AQUA GmbH and will be incor­po­ra­ted into SCIO. With the acqui­si­tion of the company, SCIO expands its custo­mer port­fo­lio and opens up new indus­tries. At the same time, it is streng­thening its auto­ma­tion and programming services in the process engi­nee­ring envi­ron­ment, thus setting the course for further growth in a future-orien­ted and sustainable envi­ron­ment such as drin­king water treat­ment and waste­wa­ter plants.

“Through this tran­sac­tion, we are streng­thening our auto­ma­tion tech­no­logy service port­fo­lio and expan­ding our custo­mer base in a very homo­ge­neous and stable envi­ron­ment. We are now contri­bu­ting our exten­sive know­ledge and expe­ri­ence in all areas of process tech­no­logy to further deve­lop Aqua in the long term,” says Michael Goepf­arth, Mana­ging Direc­tor of SCIO Automation.

The role of Proven­tis Partners

Proven­tis Part­ners supported Bilfin­ger and the two mana­ging part­ners throug­hout the entire M&A process. Services included prepa­ring all tran­sac­tion docu­men­ta­tion, iden­ti­fy­ing and approa­ching suita­ble inves­tors, coor­di­na­ting due dili­gence and commer­cial nego­tia­tion of the transaction.

About Bilfin­ger Grey­Lo­gix Aqua GmbH

Aqua was foun­ded in 1998 by Olaf Krem­sier and has been part of the Bilfin­ger Group since 2013 as a subsi­diary of Bilfin­ger Grey­Lo­gix GmbH. The focus is on control and process control tech­no­logy for drin­king water treat­ment and waste­wa­ter plants, mainly for custo­mers in the public sector. In doing so, Aqua acts as a systems inte­gra­tor with a focus on project manage­ment and high-end auto­ma­tion and programming services. Across seven loca­ti­ons, the company ensu­res that custo­mers receive compre­hen­sive support close to their sites.

About SCIO Auto­ma­tion Group

SCIO Auto­ma­tion GmbH was foun­ded in Janu­ary 2019 as a medium-sized plat­form in the field of indus­trial auto­ma­tion tech­no­logy and rela­ted engi­nee­ring services, combi­ning niche provi­ders with deca­des of expe­ri­ence in their fields of acti­vity. Custo­mers come from the auto­mo­tive, logi­stics, chemi­cal and process indus­tries, clean room and elec­tro­nics, life science and medi­cal tech­no­logy, as well as the energy indus­try and envi­ron­men­tal technology.
About Proven­tis Partners

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 30 M&A advi­sors, Proven­tis Part­ners is one of the largest inde­pen­dent M&A consul­tancies in the German-spea­king region and looks back on 20 years of M&A expe­ri­ence and over 300 comple­ted tran­sac­tions. The M&A advi­sors with offices in Zurich, Hamburg, Colo­gne and Munich are active in the sectors Indus­tri­als, Busi­ness Services, Consu­mer & Retail, TMT, Health­care and Energy. 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. Mergers Alli­ance members, with over 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.

Fiber optic networks

Wagner Fernmeldebau Holding takes over Benzina Kommunikation

Munich/ Frei­burg — With a team led by Part­ner Dr. Rainer Hersch­lein, Heuking Kühn Lüer Wojtek advi­sed Wagner Fern­mel­de­bau Holding GmbH on the majo­rity acqui­si­tion of Benzina Kommu­ni­ka­tion GmbH of Frei­burg. The seller of the shares is the sole share­hol­der and mana­ging direc­tor M. Benzina. He will remain on board unch­an­ged after the closing of the tran­sac­tion, and the company name will be continued.

The Wagner Group is curr­ently forming a full-service provi­der for the cons­truc­tion of fiber optic infra­struc­ture as part of a buy-and-build stra­tegy. With this acqui­si­tion, the Wagner Group is further expan­ding its range of services and will in future be able to imple­ment compre­hen­sive projects in the FTTX sector using a gene­ral contrac­tor approach. Benzina Kommu­ni­ka­tion GmbH comple­ments the exis­ting service port­fo­lio with all services within commu­ni­ca­tion and network technology.

Benzina Kommu­ni­ka­tion GmbH was foun­ded in 1999 by M. Benzina and has been owner-mana­ged ever since. The company imple­ments needs-based solu­ti­ons in the areas of commu­ni­ca­ti­ons and network tech­no­logy, buil­ding and light­ing tech­no­logy, and elec­tro­mo­bi­lity infra­struc­ture for muni­ci­pal faci­li­ties, compa­nies, and public-sector clients.

Wagner GmbH, based in Wald­bö­ckel­heim near Bad Kreuz­nach, is a prefer­red part­ner of Deut­sche Tele­kom AG in FTTC/B/H expan­sion in Germany. Wagner GmbH was foun­ded in 2006 by Peter Wagner and has been mana­ged by him ever since.

Advi­sors to Wagner Fern­mel­de­bau Holding: Heuking Kühn Lüer Wojtek
Dr. Rainer Hersch­lein, LL.M. (Lead, Corporate),
Char­lotte Schmitt, LL.M. (Corpo­rate, M&A), both Stuttgart

ABL-TECHNIC acquires Industriebedarf GmbH

Frank­furt a.M. — McDer­mott Will & Emery has advi­sed ABL-TECHNIC Entla­ckung GmbH and the invest­ment company behind it, Rubicon Part­ners, on the acqui­si­tion of Indus­trie­be­darf GmbH as part of an asset deal.

Indus­trie­be­darf GmbH, foun­ded in 1979 and based in Sulz am Neckar, is a medium-sized company for envi­ron­men­tally friendly paint strip­ping with over 30 employees. Custo­mers include compa­nies from the auto­mo­tive indus­try, their suppli­ers and other compa­nies from all areas of surface technology.

The ABL Group — with ABL-TECHNIC Entla­ckung GmbH as the opera­ting parent company — is a specia­list service provi­der for indus­trial paint strip­ping and offers a broad port­fo­lio of services ranging from paint strip­ping manage­ment to dispo­sal and reco­very of recy­clable mate­ri­als. The company has 23 loca­ti­ons in 14 count­ries. The ABL Group has been part of the Rubicon Part­ners port­fo­lio since 2011.

The McDer­mott team most recently advi­sed ABL Group and the invest­ment company behind it, Rubicon Part­ners, on the successful comple­tion of the refi­nan­cing of exis­ting finan­cial debt (combi­ned with a growth finan­cing component).

Advi­sors to ABL-TECHNIC Entla­ckung GmbH/ Rubicon Part­ners: McDer­mott Will & Emery, Frankfurt
Dr. Michael Cziesla, Photo (Lead, Corporate/M&A/Private Equity), Dr. Maxi­mi­lian Clos­ter­meyer (Real Estate), Dr. Chris­tian Rolf (Labor Law); Asso­cia­tes: Isabelle Müller, Tobias Riemen­schnei­der (both Corporate/M&A/Private Equity), Elena Platte, LL.M. (real estate law)

Vector Innovation Fund: first $300 million pandemic protection fund

Luxem­bourg — Vector Inno­va­tion Fund GP S.à.r.l. (VIF) has now laun­ched an expec­ted $300 million pande­mic protec­tion sub-fund 1. This first sub-fund aims to invest in tech­no­lo­gies for pande­mic protec­tion and future health­care, aiding and support­ing precis­ion medi­cine, highly advan­ced point of care and AI tech­no­lo­gies to support the global economy, sustainable health­care, and life longe­vity. This first sub-fund’s objec­tive is to target commit­ments total­ling $300m due to a strong deal flow, with an expec­ted first close of $120m and a final close expec­ted within 19 months.

The Gene­ral Part­ners have an excel­lent track record in indus­try, health­care, tech­no­logy and invest­ment, with 21 exits and a total value crea­tion of $2.4billion, inclu­ding two successful IPOs.

VIF is a Reser­ved Alter­na­tive Invest­ment Fund based in Luxem­bourg has just been incor­po­ra­ted under the laws of the Grand Duchy of Luxem­bourg as a corpo­rate part­ner­ship limi­ted by shares (société en comman­dite par actions) quali­fy­ing as an invest­ment company with varia­ble capi­tal — reser­ved alter­na­tive invest­ment fund (société d’in­ves­tis­se­ment à capi­tal varia­ble — fonds d’in­ves­tis­se­ment alter­na­tif réservé) under the RAIF Law.

VIF has been set up as an umbrella struc­ture with sub-fund Vector Inno­va­tion Fund — Pande­mic Protec­tion Fund 1 at incor­po­ra­tion date. The Gene­ral Part­ner might, at its discre­tion, launch addi­tio­nal sub-funds (which may be open-ended or close-ended) each of which is repre­sen­ted by one or more Clas­ses of Shares. The fund quali­fies as an AIF within the meaning of the AIFM Law.

Each sub-fund shall consti­tute a distinct and segre­ga­ted part of the assets and liabi­li­ties of VIF’s umbrella structure.

Econo­mic fore­cas­ters say fall­out from COVID-19 is driving huge invest­ment within AI and nano­tech­no­logy as health­care invest­ment is expec­ted to grow at a rate of nearly 50% extra a year toward a market set to be worth $1.333 tril­lion by 2027, accor­ding to Prece­dence Rese­arch 2020.

The Pande­mic Protec­tion sub-fund 1 plans to invest in sophisti­ca­ted biotech and nano­tech­no­logy-based diagno­stics, biomar­kers, vacci­nes, novel thera­pies, highly targe­ted nano­me­di­ci­nes, and AI, allo­wing us to move to a more sustainable, digi­ti­sed, decen­tra­li­sed and demo­cra­tised point-of-care envi­ron­ment. The world cannot afford another pande­mic, the ongo­ing impact of long Covid symptoms will have a profound effect on health­care provi­sion for the next five to ten years. The world of invest­ment, indus­try and govern­ments are gearing up to be better prepared and are funding future proof tech­no­lo­gies for global health.

These dyna­mic invest­ments will help to poten­ti­ally free up our econo­mies and future-proof us from infec­tious dise­a­ses as well as deve­lop solu­ti­ons to anti­bio­tic resis­tance, another global health­care chall­enge that only tech­no­logy can solve.

VIF, repre­sen­ted by its mana­ging gene­ral part­ner Vector Inno­va­tion GP, has also appoin­ted Fuchs Asset Manage­ment S.A., led by CEO Timo­the Fuchs. Fuchs Asset Manage­ment S.A. is a public limi­ted liabi­lity company based in Luxem­bourg, as the quali­fied Fund Mana­ger (AIFM) gover­ned under Luxem­bourg law for reser­ved alter­na­tive invest­ment funds under RAIF Law 2016.

The appoin­ted invest­ment advi­sor for the fund is Enab­ling Tech Invest­ment Advi­sors S.À R.L. who is also based and incor­po­ra­ted in Luxem­bourg under Luxem­bourg law. VIF’s depo­si­tory bank is Banque de Luxem­bourg. Other inter­na­tio­nal service provi­ders include Mait­land, Ashurst, The World Nano Foun­da­tion and World Science Aid.

The fund has brought toge­ther some of the world’s leading figu­res in biome­di­cine, advan­ced diagno­stics, nano biomar­kers, tele­me­di­cine, AI and machine lear­ning to acce­le­rate these trans­for­ma­tio­nal tech­no­lo­gies into the markets, backed by sophisti­ca­ted, UHNW and insti­tu­tio­nal inves­tors crea­ting poten­ti­ally one of the most dyna­mic inter­na­tio­nal invest­ment structures.

VIF’s fund invest­ment stra­tegy looks to deli­ver 25–30% esti­ma­ted gross IRR, 4x MOIC over the life of the fund with an esti­mate of 10–12 diver­si­fied invest­ments per sub-fund.

Each pros­pect company seeking invest­ment from VIF must demons­trate to our invest­ment advi­sors, our global advi­sory board, invest­ment commit­tee and fund mana­gers, their ability to commer­cia­lise highly disrup­tive tech­no­logy globally. For this, VIF uses its unique proprie­tary rating system for stra­tegy imple­men­ta­tion, using world-class bench­mark mode­ling for tech­no­logy and health­care investment.

The Fund’s Enab­ling Tech­no­logy Invest­ment Advi­sors and global advi­sory board are inter­na­tio­nal leaders in these fields of exper­tise. This has been demons­tra­ted via previous start ups that have gone on to become ‘unicorns’, as well as our team’s wider expe­ri­ence with large conglo­me­ra­tes in terms of advi­sing and support­ing them on stra­tegy, scaling or commer­cia­li­sing disrup­tive inno­va­tions in inter­na­tio­nal markets.

One inter­na­tio­nal invest­ment plat­form is a Pande­mic Protec­tion alter­na­tive invest­ment fund opera­ted by Vector Inno­va­tion Fund in Luxem­bourg focu­sed on limi­ting the effect of long form Covid-19, insu­la­ting the world against the impact of future pande­mics, whilst mini­mi­sing any impact on the global economy and health­care provi­sion and prepared­ness. As well as this, the fund is commit­ted to enhan­cing the deve­lo­p­ment and preva­lence of nano­tech­no­logy in healthcare.

The Vector Inno­va­tion Fund is a Reser­ved Alter­na­tive Invest­ment Fund (RAIF) specia­li­sing in support for tech­no­logy compa­nies able to trans­form global markets, nota­bly in global health­care, sustaina­bi­lity and longe­vity. These trans­for­ma­tio­nal tech­no­lo­gies come from the nano­tech­no­logy, biotech, AI and machine lear­ning, medi­cal devices, thera­pies and digi­tal health sectors.

The Vector Inno­va­tion Fund (VIF) is a semi-regu­la­ted alter­na­tive invest­ment fund based in Luxem­bourg and offers all the bene­fits a sophisti­ca­ted or accre­di­ted inter­na­tio­nal inves­tor would require and has seve­ral sub-funds: Pande­mic Protec­tion Fund, Enab­ling Tech­no­lo­gies Fund, Future Health­care Fund.

The VIF was incor­po­ra­ted on Novem­ber 30th, 2020 for its first sub fund for Pande­mic Protec­tion Fund and Future Health­care.

CleanTech company ABIONIK receives €20 million from ELF Capital

Munich — ABIONIK Group reali­zes a unitran­che finan­cing in the amount of more than 20 million euros with ELF Capi­tal Group.

ABIONIK Group GmbH, head­quar­te­red in Berlin, is one of the leading envi­ron­men­tal tech­no­logy provi­ders for water and air treat­ment; in parti­cu­lar, the group has an inno­va­tive and mature product port­fo­lio, which is used in muni­ci­pal as well as indus­trial and mari­time envi­ron­ments. With sales and produc­tion faci­li­ties in Europe, China and India, the company has a global presence.

The clean­tech company ABIONIK will further acce­le­rate its growth and will in future have an equally expe­ri­en­ced and entre­pre­neu­rial private debt inves­tor at its side in the Frank­furt-based ELF Capi­tal Group. In total, ELF Capi­tal Group provi­des a medium- to long-term finan­cing volume of more than EUR 20.0 million for ABIONIK to replace the previous bank finan­cing and for further growth

ELF Capi­tal Group, head­quar­te­red in Frank­furt, is an inde­pen­dent Euro­pean invest­ment mana­ger offe­ring private capi­tal solu­ti­ons to middle market compa­nies in Germany, Austria, Switz­er­land and Western Europe.

Legal advi­sors ABIONIK Group: Gütt Olk Feld­haus, Munich

Dr. Tilmann Gütt, LL.M., Julian J. Zaich, LL.M. (both part­ners, banking/finance law), Chris­to­pher Ghabel (senior asso­ciate, banking/finance law), Chris­to­pher Müller (asso­ciate, banking/finance law)

About ELF Capi­tal Group

ELF Capi­tal Group specia­li­zes in flexi­ble finan­cing solu­ti­ons for medium-sized compa­nies with a focus on Germany, Austria and Switz­er­land as well as Northwest Europe. The entire invest­ment team has many years of expe­ri­ence in struc­tu­ring custo­mi­zed finan­cing solu­ti­ons for owner-mana­ged middle-market compa­nies, manage­ment teams and private equity port­fo­lio compa­nies looking for an entre­pre­neu­rial, relia­ble and commit­ted finan­cing partner.

Through ELF Capital’s network of entre­pre­neurs, private equity spon­sors and advi­sors, ELF Capi­tal offers indi­vi­du­ally desi­gned finan­cing solu­ti­ons for estab­lished, fast-growing medium-sized compa­nies as well as for compa­nies in special situa­tions. Target invest­ments for compa­nies range from EUR 10 to 40 million, with a focus on capi­tal solu­ti­ons for compa­nies with solid and profi­ta­ble busi­ness models, leading market posi­tio­ning and good growth prospects.

Exit: SAP acquires Signavio from consortium of investors

Wall­dorf, Germany — SAP SE is acqui­ring Signa­vio GmbH from a consor­tium consis­ting of Apax Part­ners, Deut­sche Tele­kom Capi­tal Part­ners, Summit Part­ners, GP Bull­hound and the foun­ders, repor­tedly paying about 1 billion euros. — Wilkie Farr & Gallag­her LLP advi­ses the consor­tium on the sale of Signa­vio GmbH to SAP SE.

Signa­vio, foun­ded in 2009, is a leading provi­der of SaaS-based busi­ness process analy­sis and decis­ion manage­ment soft­ware that enables orga­niza­ti­ons to design, imple­ment, analyze and manage complex proces­ses, decis­i­ons and work­flows. The parties have agreed not to disc­lose details of the tran­sac­tion. The tran­sac­tion is expec­ted to be comple­ted by the 2nd quar­ter of 2021.

The inves­tors were invol­ved as follows: The Ameri­can finan­cier Summit Part­ners, which has been with Signa­vio since 2015, still held around 8.1% of the company at the exit. Deut­sche Tele­kom Capi­tal Part­ners — now better known as DTCP — held 6.6%. The Ameri­can inves­tor Apax, which, like DTCP, inves­ted in Sgna­vio in 2019, was last on board with 40.6%. Which, at best, has now raised over 400 million. Last but not least, GP Bull­hound also held a stake in Signa­vio (0.4%).

Signa­vio foun­der Gero Decker last held around 15.2% of Signa­vio. On paper, this means around 152 million euros. Signa­vio co-foun­der Nico­las Peters, who will work at the soft­ware startup until the summer of 2020, most recently held around 9.3% of the company. Co-foun­der Willi Tsche­sch­ner (CTO) most recently held around 9.5% of the company’s shares. Co-foun­der Torben Schrei­ter, who worked at Signa­vio until 2016, came to 2.8% shortly before the exit.

Will­kie advi­sed the consor­tium consis­ting of lead inves­tor Apax Part­ners, Deut­sche Tele­kom Capi­tal Part­ners, Summit Part­ners, GP Bull­hound and the foun­ders (“Consor­tium”) on the sale of Signa­vio GmbH (“Signa­vio”) to SAP SE (“SAP”). The consor­tium announ­ced that it has ente­red into an agree­ment to sell Signa­vio, a leader in busi­ness process intel­li­gence and process manage­ment, to SAP.

Advi­sor to the consor­tium: Will­kie Farr & Gallagher
under the leader­ship of part­ner Dr. Kamyar Abrar (Corpo­rate, Frank­furt), consis­ted of part­ners Simon F. Spen­cer (IP, New York), Eugene L. Chang (IP, New York), William H. Rooney (Anti­trust, New York), Michael L. Katz (Corpo­rate, New York), Dr. Markus Lauer (Corpo­rate, Frank­furt), coun­sels Miriam Steets, Wolf­gang Münchow, Daniel Zakrzew­ski, Dr. Moritz Vetter­mann (all Corpo­rate, Frank­furt), Ludger Kempf (Tax, Frank­furt), Matthias Schr­a­der (Liti­ga­tion, Frank­furt), Matthias Töke (Finance, Frank­furt) and Jona­than Konoff (Anti­trust, New York), asso­cia­tes Aurel Hille (Anti­trust, Frank­furt), Cesare Vannuc­chi, Jane Hentz, Ilie Manole, Andreas Sand­ber­ger, Philip Thür­mer (all Corpo­rate, Frank­furt), Dr. Nadine Kramer, Martin Waskow­ski (both HR, Frank­furt), Chris­tian Schmidt (Tax, Frank­furt), Chris­to­pher Cleri­hew, Stefa­nie Lech­ler (both Finance, Frank­furt), Ahmad El- Gamal (Trade & Export, Washing­ton), Scott Wallace (Tax, London).

About Will­kie Farr & Gallag­her LLP
Will­kie Farr & Gallag­her LLP is an inter­na­tio­nal law firm with more than 750 lawy­ers with offices in New York, Washing­ton, Hous­ton, Palo Alto, San Fran­cisco, Chicago, Paris, London, Frank­furt am Main, Brussels, Milan and Rome.

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]