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News-Kategorie: Private Equity

DBAG portfolio company Sero acquires Semecs

Frank­furt am Main — Sero GmbH (Sero), a company in the port­fo­lio of DBAG Fund VII, acqui­res Solid Semecs B.V. Like Sero, the Dutch company is a deve­lo­p­ment and manu­fac­tu­ring service provi­der for EMS (Elec­tro­nic Manu­fac­tu­ring Services, complete contract manu­fac­tu­ring of elec­tro­nic assem­blies, devices and systems) and opera­tes on the market as Semecs. DBAG Fund VII will invest around 16 million euros in the purchase, of which 3.6 million euros will be inves­ted by Deut­sche Betei­li­gungs AG (DBAG).

The aim of the tran­sac­tion, which was agreed at the end of last week, is to broa­den the custo­mer base, open up new custo­mer sectors and expand produc­tion capa­ci­ties with a site in Eastern Europe. The seller is the Dutch company Rade­ma­ker Beheer B.V. The family behind the company is prima­rily invol­ved in machinery for large bake­ries; Semec’s acti­vi­ties are accord­in­gly outside its core busi­ness. The purchase is subject to appro­val by the anti­trust autho­ri­ties; the tran­sac­tion is expec­ted to be comple­ted by mid-year.

DBAG Fund VII, which was advi­sed by DBAG, had inves­ted in Sero in Novem­ber 2018 as part of a manage­ment buyout. DBAG had co-inves­ted around eleven million euros along­side the fund. It holds 21 percent of the shares in Sero. The current tran­sac­tion is the seven­te­enth corpo­rate acqui­si­tion struc­tu­red by a company from the DBAG port­fo­lio within the past twelve months. The objec­tive is predo­mi­nantly to acce­le­rate the perfor­mance of the respec­tive port­fo­lio compa­nies, for example by broa­de­ning the product range and regio­nal coverage or by conso­li­da­ting the market.

Semecs (www.semecs.com) assem­bles prin­ted circuit boards for a wide range of appli­ca­ti­ons and also specia­li­zes in common assem­bly, cali­bra­tion and testing services. The company, head­quar­te­red in Uden, Nether­lands, employs 480 people, 450 of whom work at the produc­tion site in Vráble, Slova­kia, which was built in 2012. For the current year, the company expects sales of around 72 million euros.

The elec­tro­nic compon­ents produ­ced by Semecs in predo­mi­nantly small quan­ti­ties are used, for example, to control air-condi­tio­ning systems or the motors of e‑bikes, are found in elec­tro­nic electri­city meters and mobile insu­lin pumps, and are instal­led in the LED ligh­t­ing or engine control systems of cars. Around 70 percent of sales are gene­ra­ted with indus­trial custo­mers; the remai­ning share is accoun­ted for by appli­ca­ti­ons in medi­cal tech­no­logy and products for the auto­mo­tive industry.

is where Semecs differs from Sero: Sero is an estab­lis­hed produc­tion part­ner to the auto­mo­tive supply indus­try and gene­ra­tes around 85 percent of its sales there. With a high degree of auto­ma­tion, the company specia­li­zes in high-volume orders. Semecs, on the other hand, deals with orders above medium quan­ti­ties and a higher propor­tion of manual acti­vi­ties. Both compa­nies will bene­fit equally from the combi­na­tion of manu­fac­tu­ring opera­ti­ons invol­ving the Slova­kian site, ther­eby achie­ving a higher degree of flexi­bi­lity for diffe­rent order sizes and better posi­tio­ning in the acqui­si­tion of new busi­ness. The acqui­si­tion of Semecs thus broa­dens Sero’s custo­mer base and market access for the company, which employs around 220 people in Rohr­bach, Rhineland-Palatinate.

The newly formed group opera­tes in an attrac­tive market: for the core segments of indus­try, medi­cine and auto­mo­tive, growth rates above the already attrac­tive growth of the EMS market as a whole are expec­ted in the coming years.

“The compe­ten­cies of the two compa­nies comple­ment each other perfectly,” said Jannick Hune­cke, member of the DBAG Manage­ment Board on the occa­sion of the tran­sac­tion. He added: “Toge­ther they can better serve the attrac­tive market and opti­mally combine their capa­bi­li­ties in produc­tion, so that with the company acqui­si­tion we are streng­t­he­ning and acce­le­ra­ting the further deve­lo­p­ment of our origi­nal investment.”

Sero CEO Dr. Bernd Welzel high­ligh­ted the stra­te­gic impor­t­ance of the tran­sac­tion for Sero: “The company crea­ted from the two EMS specia­lists ensu­res a strong and compe­ti­tive presence in Europe with a broad range of manu­fac­tu­ring service offe­rings across diffe­rent market segments — this opens up a variety of oppor­tu­nities for us and under­li­nes our expan­sion policy.” Semecs Mana­ging Direc­tor Jan-Fredrik Kalee added, “We bring a well-trai­ned team to an attrac­tive loca­tion with a reco­gni­zed good quality assurance process and look forward to working with them.”

About DBAG

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

HANNOVER Finanz and ARCUS Capital acquire majority stake in Löwenstark Group

Hanover/ Munich — Toge­ther with ARCUS Capi­tal from Munich, the HANNOVER Finanz Group acqui­res a majo­rity stake in the Löwen­stark Group. Toge­ther, the inves­tors will hold more than 75 percent of the shares in the leading online marke­ting service provi­der from Braun­schweig. In the stra­te­gic part­ners­hip with company foun­der Marian Wurm — who remains signi­fi­cantly invol­ved — and the manage­ment team around Löwen­stark CEO Hart­mut Deiwick, growth is to be further expan­ded and long-term succes­sion plan­ning is to be arran­ged. The parties have agreed not to disc­lose the purchase price.

“Invest­ments in compa­nies with a focus on digi­tiz­a­tion are now a signi­fi­cant part of our port­fo­lio. With Löwen­stark, we have been able to convince anot­her online company to join us. We see a lot of poten­tial in the Braun­schweig-based agency group, which is one of the leading online marke­ting service provi­ders in the D‑A-CH region. The part­ners­hip with ARCUS, an invest­ment company with expe­ri­ence in the online indus­try, is also an asset for our network,” says the HANNOVER Finanz Board Spokes­man Goetz HertzEi­chen­rode (photo) on the now comple­ted invest­ment in the Löwen­stark Group.

With invest­ments in a wide variety of soft­ware, e‑commerce or digi­tiz­a­tion specia­lists, such as Corpo­rate Plan­ning AG, Media Concept GmbH or the Marken­film agency, equity part­ner HANNOVER Finanz has a wealth of expe­ri­ence in the marke­ting and digi­tal indus­tries. “Löwen­stark offers its custo­mers a truly holistic approach to consul­ting and solu­ti­ons that is unpar­al­leled, espe­cially in the SME segment. In addi­tion, we see strong growth poten­tial due to posi­tive market drivers and highly auto­ma­ted busi­ness proces­ses. We look forward to working with HANNOVER Finanz and the manage­ment to support the company on its success­ful course in the coming years and to set the course for further growth,” says Stefan Eishold, CEO of ARCUS, about the invest­ment in the Löwen­stark Group.

Marian Wurm, foun­der of Löwen­stark: “In ARCUS and HANNOVER Finanz, we have found the right part­ners for Löwenstark’s stra­te­gic deve­lo­p­ment. With their exten­sive indus­try and manage­ment expe­ri­ence and nume­rous conta­cts in the German SME sector, they will actively support us in our next growth steps.”

Advi­sor to the deal team of HANNOVER Finanz:

Ebner Stolz GmbH & Co. KG (Finan­cial and Tax Due Diligence)
ecce­le­rate GmbH (Commer­cial Due Diligence)
KPMG Law Rechts­an­walts­ge­sell­schaft mbH (Legal Due Diligence)
Gütt Olk Feld­haus Part­ner­schaft von Rechts­an­wäl­ten mbB (finan­cing).

Advi­sor Löwen­stark Digi­tal GmbH: Norton Rose Fulbright

Lead Part­ner Dr. Phil­ipp Grzimek (M&A/Private Equity, Part­ner, Munich).
He was suppor­ted by part­ners Tino Duttiné (tax law), Dr. Chris­toph Ritzer (data protec­tion law and IT law) and Dr. Andrea Spel­ler­berg (banking law). Coun­sel Clau­dia Poslu­schny (employ­ment law) and Oliver Paasch (banking law), Senior Asso­cia­tes Jan-Peter Heise (M&A) and Julia Gallin­ger (tax law) as well as Asso­ciate Olivia Reinke (employ­ment law) were also involved.

MONTIS Corpo­rate Finance acted as M&A advi­sor to Löwenstark.

About Löwen­stark
www.loewenstark.com With over 5,000 custo­mer projects for 19 years, Löwen­stark Digi­tal Group GmbH is one of the most expe­ri­en­ced and success­ful digi­tal service provi­ders for online marke­ting in the DACH region. More than 150 employees are active at ten loca­ti­ons in all disci­pli­nes of online marke­ting for natio­nal and inter­na­tio­nal custo­mers along the maxim “thorough analy­sis, consis­tent opti­miz­a­tion and sustainable success”. The focus is on holistic solu­ti­ons in the areas of perfor­mance marke­ting (search engine opti­miz­a­tion, search engine marke­ting, market­place marke­ting), brand marke­ting (repu­ta­tion manage­ment, social media, affi­liate and e‑mail marke­ting), and web deve­lo­p­ment (CMS, store systems and usabi­lity opti­miz­a­tion). The custo­mer base inclu­des more than 500 natio­nal and international

About Norton Rose Fulbright

Norton Rose Fulbright is a global busi­ness law firm. With more than 4,000 lawy­ers in over 50 offices world­wide in Europe, the United States, Canada, Latin America, Asia, Austra­lia, Africa and the Middle East, we advise leading natio­nal and inter­na­tio­nal companies.

We offer our clients compre­hen­sive advice in all major indus­tries. These include Finan­cial Insti­tu­ti­ons; Energy; Infra­st­ruc­ture, Mining and Commo­di­ties; Trans­por­ta­tion; Tech­no­logy and Inno­va­tion; and Life Scien­ces and Health­care. Our global Risk Advi­sory Group combi­nes this exten­sive indus­try expe­ri­ence with its exper­tise in legal, regu­la­tory, compli­ance and gover­nance matters. This enab­les us to provide our clients with prac­ti­cal solu­ti­ons to the legal and regu­la­tory risks they face.

The Swiss asso­cia­tion Norton Rose Fulbright helps to coor­di­nate the acti­vi­ties of Norton Rose Fulbright members, but does not provide legal advice to clients. Norton Rose Fulbright has offices in more than 50 cities world­wide, inclu­ding London, Hous­ton, New York, Toronto, Mexico City, Hong Kong, Sydney and Johan­nes­burg. For more infor­ma­tion, visit nortonrosefulbright.com/legal-notices.

Marco Brockhaus

Exit: Brockhaus Private Equity sells AUVESY Group to Hg Capital

Frank­furt a. M./ POELLATH advi­sed Brock­haus Private Equity, the AUVESY manage­ment team and other share­hol­ders on the sale of their stake in the AUVESY Group, a tech­no­lo­gi­cal global market leader for data manage­ment systems, to Hg Capi­tal. The exis­ting AUVESY manage­ment team will conti­nue to hold a stake in the company, while the former majo­rity owner Brock­haus Private Equity will exit completely.

Foun­ded in 2007 and based in Landau in der Pfalz, AUVESY GmbH is a leading global provi­der of soft­ware solu­ti­ons for version control and change manage­ment in auto­ma­ted indus­trial envi­ron­ments. The soft­ware enab­les auto­ma­ted produc­tion faci­li­ties and other intel­li­gent machi­nes, as well as their machine data and infor­ma­tion, to be auto­ma­ti­cally backed up and centrally mana­ged. The company employs around 90 people and mana­ges over 5 million indus­trial “Inter­net-of-Things” devices in 45 countries.

POELLATH already advi­sed Brock­haus Private Equity on the acqui­si­tion of AUVESY in 2017 from the then foun­ders and now also accom­pa­nied the sale to Hg Capi­tal. The parties have agreed not to disc­lose further details of the tran­sac­tion. The closing of the tran­sac­tion is still pending.

Advi­sor Brock­haus Private Equity: POELLATH with the following cross-loca­tion team:
Tobias Jäger (Part­ner, Lead Part­ner, M&A/Private Equity, Munich)
Phil­ipp von Braun­schweig, LL.M. (Ford­ham) (Part­ner, M&A/Private Equity, Munich)
Dr. Bene­dikt Hohaus (Part­ner, Manage­ment Parti­ci­pa­tion, Munich)
Dr. Nico Fischer (Part­ner, Tax Law, Munich)
Dr. Jens Linde (Asso­cia­ted Part­ner, Finan­cing, Frankfurt)
Daniel Wied­mann, LL.M. (NYU) (Asso­cia­ted Part­ner, Anti­trust Law, Frankfurt)
Andrea Strei­fen­e­der (Asso­ciate, M&A/Private Equity, Munich)
Dr. Matthias Meier (Asso­ciate, M&A/Private Equity, Munich)
Johanna Scherk (Asso­ciate, Manage­ment Parti­ci­pa­tion, Munich)

Matthias Henning, Finexx

Finexx takes over Volpini packaging and increases fund volume

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

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

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

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

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

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

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

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

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

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

Dental splint from PlusDental

PlusDental: further financing round of 35 million euros

Berlin — Plus­Den­tal has raised EUR 35 million in anot­her finan­cing round. Jebsen Capi­tal and BioN­Tech SE led the finan­cing round. PING AN, HV Capi­tal, Lakestar, Kreos Capi­tal, Cadence Growth Capi­tal and World­Cup star Mario Götze also parti­ci­pa­ted. Plus­Den­tal Dr. was advi­sed by the Berlin law firm Vogel Heerma Waitz.

Just under a year ago, the Berlin-based health startup raised 32 million euros in a Series C round. At the time, Hong Kong-based insurance group Ping An made a new entry through its Global Voya­ger Fund.

PlusDental’s mission is to provide all pati­ents with access to high-quality, inno­va­tive denti­stry. As a pioneer in digi­ta­liz­a­tion, Plus­Den­tal has mana­ged to become a leading Euro­pean digi­ta­liz­a­tion part­ner for dentists. Plus­Den­tal is led by indus­trial engi­neer and expe­ri­en­ced mana­ger Eva-Maria Meij­nen, former McKin­sey consul­tant Dr. Peter Baum­gart and well-known entre­pre­neur and angel inves­tor Lukas Brosseder.

Plus­Den­tal is now one of the top four medtech star­tups in Germany in which the most has been inves­ted. The fresh capi­tal will be used to acce­le­rate growth in Europe and China.

Consul­tant Plus­Den­tal: Vogel Heerma Waitz
Dr. Clemens Waitz (Part­ner) and Lorenz Frey

 

 

Gimv invests in the Homecare Apraxon Group

Hofbieber/Munich (DE), Antwerp (BE) — Gimv invests in the Apra­xon Group, a leading home­care company focu­sed on wound care in Germany. The tran­sac­tion, which has already been comple­ted, is part of a joint growth plan with the company’s foun­der and CEO, Oliver Pokrze­win­ski, who will conti­nue to be a key share­hol­der in the company.

Apra­xon, (Hofbie­ber (DE) — apraxon.com), offers high-quality wound care for (mainly elderly) people with chro­nic wounds in the home­care sector. Typi­cal wound indi­ca­ti­ons are decu­bi­tus, diabe­tic foot or ulcus cruris. In this context, the company acts as a link between pati­ents, doctors, nursing service/home and the health insurance companies.

Due to its high degree of specia­liz­a­tion, Apra­xon provi­des a conti­nuously high quality of medi­cal care and is able to tailor the treat­ment process to the indi­vi­dual needs of each pati­ent. In a market with steadily rising pati­ent numbers, driven prima­rily by demo­gra­phic change, specia­li­zed medi­cal care is beco­m­ing incre­a­singly important. The services are reim­bur­sed by health insurance compa­nies, for which Apra­xon has been a reli­able part­ner for many years.

“I am convin­ced that Gimv is the right part­ner to realize the company’s growth ambi­ti­ons and expand Apraxon’s presence in Germany,” said Oliver Pokrze­win­ski, Mana­ging Direc­tor and CEO of Apraxon.

“Thanks to Apraxon’s clear commit­ment to quality, the above-average quali­fi­ca­tion of their nursing staff and their highly digi­ta­li­zed and scala­ble proces­ses, we are convin­ced that Apra­xon is the right plat­form to build a true market leader in German wound care. We are very much looking forward to suppor­ting Mr. Pokrze­win­ski and the entire Apra­xon team in imple­men­ting their ambi­tious growth plans,” says Phil­ipp v. Hammer­stein, Part­ner at Gimv in the Health & Care team in Munich.

The new invest­ment is already Gimv’s fifth acqui­si­tion in the German-spea­king health­care market within the last four years. Gimv curr­ently holds a total of 23 invest­ments in compa­nies in the health­care and life scien­ces sector. With this acqui­si­tion, Gimv once again under­li­nes its posi­tion as one of the most active Euro­pean inves­tors in the health­care indus­try and its ambi­tion to posi­tively contri­bute to the United Nati­ons goals; in this case “Health and Well­being”. The Gimv port­fo­lio also inclu­des several hospi­tal and prac­tice groups as well as medi­cal tech­no­logy and biotech companies.

ABOUT GIMV
Gimv is a Euro­pean invest­ment company with 40 years of expe­ri­ence in private equity. The company is listed on Euronext Brussels, curr­ently mana­ges around EUR 2.0 billion and curr­ently invests in 55 port­fo­lio compa­nies, which toge­ther gene­rate reve­nues of more than EUR 2.5 billion and employ 14,000 people. Gimv’s aspi­ra­tion to make a posi­tive value contri­bu­tion to society is reflec­ted, among other things, in the recently success­fully laun­ched Sustainable Bond.

Gimv iden­ti­fies inno­va­tive, leading compa­nies with high growth poten­tial and supports them sustainably on their way to market leaders­hip. Each of the four invest­ment plat­forms Consu­mer, Health & Care, Smart Indus­tries and Sustainable Cities is mana­ged by a dedi­ca­ted and compe­tent team, each based in Gimv’s home markets — Bene­lux, France and DACH — and suppor­ted by an exten­sive inter­na­tio­nal network of experts.

main-capital-acquires-foconis

Deloitte Legal advises Main Capital on acquisition of majority stake in FOCONIS

Düssel­dorf — A Deloitte Legal team led by Felix Fell­ei­sen (Part­ner) and Max Lüer­ßen (Coun­sel; both Corporate/M&A, Düssel­dorf) advi­sed the stra­te­gic soft­ware inves­tor Main Capi­tal on its invest­ment in the finan­cial services soft­ware provi­der FOCONIS.

FOCONIS is a leading provi­der of data quality, control and compli­ance soft­ware that supports finan­cial insti­tu­ti­ons — prima­rily in German-spea­king coun­tries — in their inter­nal repor­ting and in meeting regu­la­tory requi­re­ments. The company’s more than 600 custo­mers include private banks and asso­cia­ti­ons, as well as savings banks and coope­ra­tive banks.

Main Capi­tal will support FOCONIS and the manage­ment team to further streng­t­hen the exis­ting market posi­tion and conti­nue the strong growth trajec­tory by expan­ding into adja­cent custo­mer segments with high regu­la­tory and data quality requi­re­ments. In addi­tion to orga­nic growth initia­ti­ves, selec­tive acqui­si­ti­ons also repre­sent an important pillar of growth.

About FOCONIS

FOCONIS is a leading provi­der of data quality, control and compli­ance soft­ware for banks, desi­gned to help finan­cial insti­tu­ti­ons with inter­nal repor­ting and regu­la­tory requi­re­ments. The solu­tion is focu­sed on finan­cial insti­tu­ti­ons in German-spea­king coun­tries and is curr­ently used by over 600 custo­mers in the finan­cial services indus­try. The company’s main product, FOCONIS-ZAK®, conso­li­da­tes data from various sources, in parti­cu­lar public stock exchange data, data from banking asso­cia­ti­ons, data avail­able directly from the custo­mer or other (un)structured data . The system then analy­zes and controls the proces­sed data by apply­ing an exten­sive set of rules. If conspi­cuous busi­ness tran­sac­tions are iden­ti­fied, FOCONIS-ZAK® initia­tes the reso­lu­tion of compli­ance issues accord­ing to a firmly defi­ned process inclu­ding esca­la­tion paths. The checked and correc­ted data is then auto­ma­ti­cally updated in the customer’s respec­tive core banking system. The company was foun­ded in 2000 and curr­ently employs 80 people.

About Main Capital

Main Capi­tal is a stra­te­gic soft­ware inves­tor with an exclu­sive focus on the soft­ware sector in the Bene­lux, DACH region and Scan­di­na­via. Within this sector, Main Capi­tal is the most specia­li­zed entity for manage­ment buyouts and growth capi­tal for stra­te­gic late-stage acqui­si­ti­ons. Main Capi­tal mana­ges invest­ments worth appro­xi­mately €1 billion in estab­lis­hed and growing soft­ware compa­nies in the Nether­lands, the DACH region and Scan­di­na­via. An expe­ri­en­ced team of specia­lists mana­ges these private equity funds from offices in The Hague, Düssel­dorf and Stockholm.

Felix Fell­ei­sen and Max Lüer­ßen have been advi­sing Main Capi­tal since the begin­ning of its expan­sion into Germany and have already assis­ted the stra­te­gic soft­ware inves­tor in a number of plat­form and add-on acqui­si­ti­ons. Deals advi­sed by Deloitte Legal’s M&A lawy­ers include acqui­si­ti­ons of stakes in fast-growing German soft­ware and SaaS compa­nies such as b+m Infor­ma­tik (finan­cial services), arte­gic (marke­ting auto­ma­tion), JobRou­ter (process auto­ma­tion), Clever­soft (GRC for finan­cial services), HYPE Inno­va­tion (inno­va­tion management/collaboration), GBTEC (process automation/workflow management/ GRC), Onven­tis (procu­re­ment & Invoice Manage­ment) and HLP Infor­ma­tion Manage­ment (Idea and Inno­va­tion Manage­ment Software).

Advi­sor Main Capi­tal: Deloitte Legal
Max Lüer­ßen (Coun­sel, Corporate/M&A, Düssel­dorf, Lead), Felix Fell­ei­sen (Part­ner, Corporate/M&A, Düssel­dorf Co-Lead); Frauke Heudt­lass (Part­ner, Labor Law, Düssel­dorf); Dr. Fleur Johanna Prop, LL.M. (Coun­sel, Corporate/M&A, Düssel­dorf), Alex­an­der Roehl, LL.M. (Asso­ciate, Corporate/M&A, Düssel­dorf); Leonie Onkel­bach (Asso­ciate, Labor Law, Düsseldorf .

Consul­tant FOCONIS: POELLATH
Phil­ipp von Braun­schweig (Part­ner, Corporate/M&A, Munich, Lead), Dr. Nico Fischer (Part­ner, Tax, Munich), Andrea Strei­fen­e­der, (Asso­ciate, Corporate/M&A, Munich).


About Deloitte

Deloitte provi­des audi­t­ing, risk advi­sory, tax advi­sory, finan­cial advi­sory and consul­ting services to compa­nies and insti­tu­ti­ons from all sectors of the economy; Legal advice is provi­ded in Germany by Deloitte Legal. With a global network of member compa­nies in more than 150 coun­tries, Deloitte combi­nes excel­lence with world-class perfor­mance and helps clients solve their complex busi­ness chal­len­ges. Making an impact that matters – for around 312,000 Deloitte employees, this is a common mission state­ment and indi­vi­dual ambi­tion at the same time.

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.

MBP Offer

MPB secures £50m from Vitruvian and Acton

London/ Brighton — MPB, the world’s largest resel­ler of photo and video kit, has raised £49.8 million in its latest funding round, led by Vitru­vian Part­ners with parti­ci­pa­tion from current inves­tor Acton Capi­tal, joining exis­ting inves­tors Mobeus Equity Part­ners, Beringea and FJ Labs.

Foun­ded in Brighton in 2011, MPB is a standout driver of the creator economy groun­ded in a busi­ness model of circu­la­rity that deli­vers both econo­mic and envi­ron­men­tal sustaina­bi­lity. Recir­cu­la­ting 300,000 items of kit globally each year, MPB has trans­for­med access to photo and video kit by offe­ring a tech­no­logy-based, custo­mer-centric service that remo­ves the risk and uncer­tainty atta­ched to using many of its competitors.

Matt Barker, Foun­der and CEO, MPB said: “This funding round is a major mile­stone for MPB culmi­na­ting a decade of strong perfor­mance and a vision to make great kit acces­si­ble and affordable.

With the backing of Vitru­vian Part­ners and those reinves­ting in our busi­ness we can acce­le­rate our US and Euro­pean growth stra­tegy at scale, profi­ta­bly. Photo­gra­phy and video­gra­phy are intrinsic to socie­ties and cultures all over the world, and at MPB we have crea­ted a circu­lar model that offers ever­yone the chance to be visual story­tel­lers and content creators in a way that’s good for the planet.”

The used kit market is in a period of signi­fi­cant expan­sion as more consu­mers purchase sustainably in the circu­lar economy. With estab­lis­hed loca­ti­ons in the UK, US and Germany, MPB is well-posi­tio­ned to take advan­tage of this growing trend. The new wave of funding will allow the company to focus on new product deve­lo­p­ments and tech­no­logy that broa­den the ways in which people can access kit, and bols­ter exis­ting opera­ti­ons to bring more kit to more people.

Tom Studd, Part­ner at Vitru­vian Part­nersthe inde­pen­dent growth-focu­sed private equity firm, said: “MPB has deve­lo­ped a unique tech-enab­led plat­form to meet a market need, trans­forming access to photo­gra­phy kit to become a global leader in its field, whilst buil­ding a product that genui­nely has a posi­tive impact on the world. Matt and the team have achie­ved strong and profi­ta­ble growth through recent laun­ches in the US and Germany, and we’re deligh­ted to part­ner with them for the next step of the jour­ney. Vitru­vian looks to back excep­tio­nal teams with unique products in large markets, and we believe Matt and the team fit those crite­ria perfectly.”

Vitru­vian Part­ners, which has previously inves­ted in success­ful circu­lar compa­nies inclu­ding Vesti­aire Collec­tive as well as house­hold names Carwow, Just Eat, Farfetch, Skyscan­ner and Trust­pi­lot, beco­mes MPB’s largest share­hol­der and is suppor­ted in this round by exis­ting inves­tor, Acton Capi­tal. Mobeus Equity Part­ners, which first inves­ted in MPB during its Series A funding and remains MPB’s second largest insti­tu­tio­nal share­hol­der, has parti­ally exited. Beringea and FJ Labs remain involved.

Sebas­tian Wossagk, Mana­ging Part­ner at Acton Capi­talsaid: “It’s always a privi­lege to watch compa­nies like MPB grow and excel in their field. Matt and his team have already taken the first steps into inter­na­tio­na­li­sa­tion by opening loca­ti­ons in Brook­lyn and Berlin, and we’re exci­ted to support them as they pursue further expan­sion in both the US and Europe.”

Arma Part­ners has acted as exclu­sive finan­cial advi­sor to MPB on the £50m invest­ment led by Vitru­vian Part­ners, with parti­ci­pa­tion from exis­ting inves­tor Acton Capital.

About Arma Partners
Arma Part­ners provi­des inde­pen­dent corpo­rate finance advice to compa­nies and inves­tors active in the global Digi­tal Economy. We act as trus­ted advi­sors to Digi­tal Economy leaders throughout their entire corpo­rate lifecy­cle, from raising private capi­tal for fast-growing disrup­ters and foun­der-led busi­nes­ses to orches­tra­ting complex cross-border M&A deals for private equity inves­tors and global large-cap public compa­nies. Foun­ded in 2003, Arma today employs a large dedi­ca­ted advi­sory team with unpar­al­leled domain exper­tise and an envia­ble track record in each of the diverse sub-segments that toge­ther comprise the ever-expan­ding global Digi­tal Economy.

Florian Schick

ACTICO shareholders sell to Bregal Unternehmerkapital

Munich — In March 2021, funds advi­sed by Bregal Unter­neh­mer­ka­pi­tal (BU) were able to conclude agree­ments to acquire a majo­rity stake in ACTICO, a leading inter­na­tio­nal provi­der of soft­ware for intel­li­gent process auto­ma­tion and digi­tal decision-making. ACTICO’s manage­ment and share­hol­ders will retain a signi­fi­cant equity stake in the company. McDer­mott Will & Emery provi­ded legal advice to the share­hol­ders of ACTICO on the sale to Bregal Unternehmerkapital.

ACTICO is a leading RegTech soft­ware provi­der offe­ring intel­li­gent decision auto­ma­tion, espe­cially for the banking and finan­cial services indus­try. The company sells its solu­ti­ons to custo­mers in over 25 coun­tries world­wide. ACTICO was crea­ted in 2015 through a carve-out from the Bosch Group and today employs around 140 people at its head­quar­ters in Immen­staad on Lake Constance and other bran­ches in the USA and Singapore.

The soft­ware plat­form is used in parti­cu­lar in the areas of risk manage­ment, regu­la­tory and compli­ance, fraud protec­tion, custo­mer loyalty and process opti­miz­a­tion. In parti­cu­lar, ACTICO excels in proces­sing large amounts of data and in deve­lo­ping reli­able, robust and easily scala­ble applications.

Bregal Unter­neh­mer­ka­pi­tal invests in medium-sized compa­nies in a wide range of indus­tries in Germany, Austria, Switz­er­land and Nort­hern Italy. The focus is on market leaders and “hidden cham­pions” with strong manage­ment teams and growth potential.

Bregal Unter­neh­mer­ka­pi­tal GmbH was foun­ded in 2015 by Florian Schick and Jan-Daniel Neumann. The funds they advise support entre­pre­neurs family busi­nes­ses. The focus is on majo­rity and mino­rity invest­ments and growth finan­cing, prima­rily in medium-sized compa­nies in Germany, Austria, Switz­er­land and nort­hern Italy — the “Mittel­stand”. These invest­ments are inde­pen­dent of deve­lo­p­ments on the finan­cial markets. With pati­ent capi­tal, entre­pre­neu­rial exper­tise and part­ners­hip-based dialo­gue, BU aims to focus on growing its invest­ments and helping them create sustainable value. Parti­cu­larly important are finan­cial stabi­lity, a high degree of flexi­bi­lity, short decision-making paths and a high degree of entre­pre­neu­rial free­dom for the companies.

Consul­tant Share­hol­der of ACTICO
McDer­mott Will & Emery, Munich: Dr. Cars­ten Böhm (Lead, Corpo­rate), Marcus Fischer (Coun­sel, Tax, Frank­furt), Nina Siewert (Tax, Frank­furt), Dr. Sandra Urban-Crell (Labor, Düssel­dorf), Stef­fen Woitz (IP), Dr. Germar Enders (Coun­sel; Corpo­rate); Asso­cia­tes: Frank Weiß, Bene­dikt Gloß­ner (both 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. www.mwe.com

Waterland acquires software development provider GOD

Munich / Braun­schweig — Toge­ther with Water­land Private Equity, the soft­ware deve­lo­p­ment provi­der GOD (Gesell­schaft für Orga­ni­sa­tion und Daten­ver­ar­bei­tung mbH) plans to acce­le­rate its growth. The company from Lower Saxony is one of the leading provi­ders of custo­mi­zed enter­prise IT and soft­ware solu­ti­ons, espe­cially for compa­nies with complex supply chains and produc­tion proces­ses. The port­fo­lio of services for custo­mers is to be expan­ded through targe­ted acqui­si­ti­ons as part of a buy & build stra­tegy. The share­hol­ders Igor Krahne, Ralf Holland and Dr. Thomas Wolen­ski remain signi­fi­cantly invol­ved as manage­ment team and lead the company opera­tio­nally. The tran­sac­tion is subject to appro­val by the anti­trust authorities.

GOD has been deve­lo­ping and opera­ting custo­mi­zed enter­prise IT and soft­ware solu­ti­ons since 1985. The service provi­der, which is head­quar­te­red in Braun­schweig and has offices in Hamburg, Ingol­stadt, Wolfs­burg and Wroclaw (Poland), specia­li­zes in compa­nies with complex IT projects. The more than 400 employees of GOD support large enter­pri­ses as well as medium-sized compa­nies from requi­re­ments to archi­tec­ture to project manage­ment in the deve­lo­p­ment and opera­tion of indi­vi­dual soft­ware. The offe­ring also inclu­des modern cloud and edge compu­ting services, as well as SAP consulting.

GOD will conti­nue to support sophisti­ca­ted compa­nies in digi­tiz­a­tion through indi­vi­dua­li­zed deve­lo­p­ment and expand its modern product port­fo­lio. In addi­tion, new markets are to be opened up geogra­phi­cally through further loca­ti­ons. The IT and soft­ware market conti­nues to be a rapidly growing market in the wake of digi­tiz­a­tion: The digi­tal asso­cia­tion Bitkom fore­casts an incre­ase in sales to 174.4 billion euros in 2021 for Germany alone. This is expec­ted to create around 20,000 new jobs.

Igor Krahne, mana­ging part­ner of GOD, says: “The IT and soft­ware sector is constantly reinven­ting itself, which requi­res a broad product range on the one hand, but also a high degree of specia­liz­a­tion on the other. Waterland’s expe­ri­ence in the tech sector has convin­ced us that we have the right part­ner on board: This will secure our claim to lead the digi­tal trans­for­ma­tion toge­ther with our customers.”

Dr. Gregor Hengst, Princi­pal at Water­land, adds: “We are impres­sed how GOD’s team is growing sustainably in the area of complex soft­ware solu­ti­ons. The company is bene­fi­t­ing from demand trends through digi­ta­liz­a­tion, Agile deve­lo­p­ment and IoT deve­lo­p­ments, as well as in cloud compu­ting. We look forward to further acce­le­ra­ting growth through acqui­si­ti­ons as well.”

Water­land has exten­sive expe­ri­ence in the digi­ta­liz­a­tion, IT and telecom­mu­ni­ca­ti­ons sectors: the Water­land port­fo­lio in these areas inclu­des Serrala (finan­cial auto­ma­tion and payment soft­ware), Skay­link (mana­ged cloud services), Enre­ach (unified commu­ni­ca­ti­ons), netgo group (IT services) and netrics (enter­prise IT).

Water­land Advisor:
Boston Consul­ting Group (Commer­cial)
Henge­ler Muel­ler (Legal)
Ernst & Young (Finan­cial)
GCA Altium (Debt) advised.

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.

Dirk Wittneben

Deli Home continues international growth with ARDIAN

Frank­furt am Main/Gorinchem, The Nether­lands — Ardian, a leading global inde­pen­dent invest­ment firm, has ente­red into an agree­ment to acquire Deli Home with the aim of suppor­ting the company’s inter­na­tio­nal growth plans. Deli Home is a Dutch manu­fac­tu­rer and supplier of wood-based, custom and high quality home impro­ve­ment products such as doors, cabi­nets and floors. The products are sold through DIY stores, buil­ders’ merchants and online suppliers. The tran­sac­tion is the first invest­ment of the Ardian expan­sion team in the Nether­lands. Toge­ther with Ardian, Deli Home’s manage­ment plans to further imple­ment its growth stra­tegy and deve­lop Deli Home into a pan-Euro­pean player.

Deli Home, whose roots go back to 1869, is head­quar­te­red in Gorinchem, the Nether­lands. With sales of more than 340 million euros and 1,250 employees, the company has estab­lis­hed itself as the market leader in the Bene­lux region. In recent years, the manage­ment team, led by Victor Aquina (CEO) and Jan-Willem Smits (CFO), has deve­lo­ped the company from a pure distri­bu­tor into a manu­fac­tu­rer of custo­mi­zed, wood-based DIY products with an inte­gra­ted digi­tal confi­gu­ra­tion plat­form, a broad logistics network and merchan­dise group manage­ment solu­ti­ons. Through this approach, Deli Home crea­tes great value for its customers.

Victor Aquina, CEO of Deli Home, said: “We have a clearly defi­ned growth stra­tegy that has two pillars: Conti­nuing to convince custo­mers of our digi­tal solu­ti­ons for custo­mi­zed home impro­ve­ment products, as well as expan­ding our offe­ring across Europe. Two of our future core markets are France and Germany, so Ardian, with its strong Euro­pean presence and network, is the ideal part­ner for us. The Ardian team convin­ced us with its profound under­stan­ding of the market and will actively support us with its exper­tise. We look forward to unlea­shing the company’s full poten­tial through this partnership.”

Dirk Witt­ne­ben, Head of Ardian Expan­sion Germany, added: “Deli Home has a strong and expe­ri­en­ced manage­ment team that has crea­ted a growth plat­form with a convin­cing M&A stra­tegy, for example through the acqui­si­ti­ons of Numdata and Weekamp Deuren. We see great poten­tial for growth through further acqui­si­ti­ons and the expan­sion of our range outside the Bene­lux region. We look forward to working with the manage­ment team and suppor­ting the company on its growth path.”

The parties to the tran­sac­tion were:

Ardian: Dirk Witt­ne­ben, Florian Haas, Nico­las Münzer, Janine Paustian

Legal Corpo­rate / Finance: Fresh­fields (Harald Spruit, Mandeep Lotay)

Finan­cial: Deloitte (Egon Sach­sal­ber, Tanya Fehr)

Tax / Struc­tu­ring: EY (Anne Mieke Holland)

Commer­cial / Opera­tio­nal: Roland Berger (Sameer Mehta, Swit­bert Miczka)

Tech / Digi­tal: WDP (Chris­toph Nichau, Johan­nes Dier­kes, Simon Ludwigs)

ESG: PwC (Emilie Bobin)

Envi­ron­men­tal: ERM (Werner Schulte)

M&A: ABN AMRO (Eric Altmann, Tammo Gunst)

Debt Advi­sory: Deloitte (Thomas Schouten)


ABOUT ARDIAN

Ardian is one of the world’s leading inde­pen­dent invest­ment firms, mana­ging over US$110 billion in assets for its inves­tors from Europe, South and North America and Asia. The company is majo­rity-owned by its employees and gene­ra­tes sustainable, attrac­tive returns for its investors.

With the objec­tive of achie­ving posi­tive results for all stake­hol­ders, Ardian’s acti­vi­ties promote indi­vi­du­als, compa­nies and econo­mies world­wide. Ardian’s invest­ment philo­so­phy is aligned with the three guiding princi­ples of excel­lence, loyalty and entrepreneurship.

The company has a global network of more than 700 employees and 15 offices in Europe (Frank­furt, Jersey, London, Luxem­bourg, Madrid, Milan, Paris and Zurich), South America (Sant­iago de Chile), North America (New York and San Fran­cisco) and Asia (Beijing, Seoul, Sing­a­pore and Tokyo). Ardian mana­ges the assets of its more than 1,000 inves­tors in five invest­ment areas: Direct Funds, Funds of Funds, Infra­st­ruc­ture, Private Debt and Real Estate.

JP Pfander new partner of Proventis Partners in Zurich

Zurich — Proven­tis Part­ners, one of the largest inde­pen­dent M&A advi­sory firms in the DACH region, under­pins its success­ful growth course with anot­her key person­nel appoint­ment: Dr. Jan-Phil­ipp (JP) Pfan­der beco­mes a new part­ner in the Zurich office and will drive the stra­te­gic expan­sion of the tran­sac­tion busi­ness as well as the advi­sory services in the chemi­cal sector toge­ther with Dr. Uwe Nickel.

Prior to joining Proven­tis Part­ners, Jan-Phil­ipp Pfan­der was Mana­ging Direc­tor at Moelis & Company. He headed EMEA Chemi­cals and Mate­ri­als there. Until 2015, he was Mana­ging Direc­tor at J.P.Morgan and respon­si­ble for EMEA Chemi­cals. From 2001 to early 2007, he was head of the Euro­pean Chemi­cals sector at Lehman Brothers. Jan-Phil­ipp Pfan­der began his career at McKin­sey & Company.

In a career span­ning more than 30 years, Jan-Phil­ipp Pfan­der has advi­sed on a wide range of global and regio­nal M&A and capi­tal markets tran­sac­tions in chemi­cals and rela­ted sectors for stra­te­gists and finan­cial inves­tors. Among others, Jan-Phil­ipp Pfan­der has advi­sed Evonik, Symrise, Nouryon, Lonza, Marquardt & Bahls, Syngenta, Brenn­tag, ADNOC, Altana and Lanxess in the past.

At Proven­tis Part­ners, Jan-Phil­ipp Pfan­der will consist­ently expand the range of services for clients in the chemi­cal indus­try toge­ther with Uwe Nickel. He will contri­bute his many years of expe­ri­ence in M&A and corpo­rate finance as well as his proven exper­tise in the chemi­cal indus­try to the support of M&A proces­ses. He stands for the hands-on approach coupled with a long expe­ri­ence in invest­ment banking and stra­te­gic consulting.

“We are very appre­cia­tive to have such an expe­ri­en­ced chemi­cal expert as Jan-Phil­ipp Pfan­der join Proven­tis Part­ners as an M&A and indus­try specia­list. Jan-Phil­ipp brings to us a deep under­stan­ding of the needs of compa­nies in almost all sectors of the chemi­cal indus­try and knows how to trans­late the chal­len­ges of these indus­tries into oppor­tu­nities for our clients. His expe­ri­ence in invest­ment banking, his deal track record and last but not least his large network perfectly comple­ment Proven­tis’ exper­tise in the global chemi­cal indus­try. Thus, we gene­rate a unique selling propo­si­tion in the chemi­cal M&A advi­sory segment”, explai­ned Uwe Nickel, Mana­ging Part­ner of Proven­tis Part­ners Zurich.

“I am plea­sed to join Proven­tis Part­ners to further deve­lop the chemi­stry exper­tise toge­ther with Uwe Nickel and the exis­ting team. We are buil­ding on an excel­lent repu­ta­tion of the company as a respon­si­ble, stra­te­gic part­ner for medium-sized compa­nies.” “Deli­vering solu­tion-orien­ted, inno­va­tive and inde­pen­dent M&A and corpo­rate finance advice to stra­te­gists and finan­cial inves­tors — regio­nally active and globally connec­ted, is the goal,” says Jan-Phil­ipp Pfan­der. “The new role combi­nes my many years of expe­ri­ence in inter­na­tio­nal M&A and corpo­rate finance advi­sory with Proven­tis Part­ners’ exis­ting expe­ri­ence in mana­ging chemi­cal compa­nies, thus comple­men­ting each other ideally.”

“I expect a sustai­ned incre­ase in tran­sac­tion volu­mes in the sector over the next few years, due to the shift in supply chains, and the chan­ges in demand for chemi­cals and mate­ri­als that will accom­pany the “Green Revo­lu­tion”. My goal with Proven­tis Part­ners is to provide the ideal consul­ting services for our clients in this chal­len­ging environment.”

In the chemi­cal sector, Proven­tis Part­ners already has a long track record and is an active member of the global Merger Alli­ance. Thanks to Jan-Phil­ipp Pfander’s contri­bu­tion, Proven­tis Part­ners will conti­nue to expand the chemi­cal sector inter­na­tio­nally as a focus sector since 2020.

About Dr. Jan-Phil­ipp (JP) Pfander

Born in Frank­furt, he star­ted his career at McKin­sey & Company in Hamburg. After 10 years of top manage­ment consul­ting to chemi­cal and indus­trial compa­nies on stra­tegy, port­fo­lio manage­ment, M&A and perfor­mance opti­miz­a­tion, he joined Lehman Brother in London in 2001 in the M&A team and became Head of Chemi­cals Sector for Europe. At the begin­ning of 2007, he joined J.P.Morgan as Sector Head EMEA Chemi­cals. In mid-2015, Jan-Phil­ipp Pfan­der became Part­ner and Mana­ging Direc­tor at Moelis & Company with respon­si­bi­lity for Chemi­cals and Mate­ri­als in the EMEA region.

Dr. Jan-Phil­ipp (JP) Pfan­der studied micro­bio­logy at the Tech­ni­cal Univer­sity of Munich and holds a PhD in busi­ness admi­nis­tra­tion from the Univer­sity of Oldenburg.

About Proven­tis Partners

Proven­tis Part­ners is a part­ner-led M&A advi­sory firm whose clients include a majo­rity of mid-sized family busi­nes­ses, corpo­rate subsi­dia­ries and private equity funds. With more than 30 M&A advi­sors, Proven­tis Part­ners is one of the largest inde­pen­dent M&A consul­tancies in the German-spea­king region and looks back on 20 years of M&A expe­ri­ence and more than 300 comple­ted tran­sac­tions. The M&A advi­sors with offices in Zurich, Hamburg, Colo­gne and Munich are active in the sectors Indus­tri­als & Chemi­cals, Busi­ness Services, Consu­mer & Retail, TMT, Health­care and Energy & Sustaina­bi­lity. Exclu­sive members­hip in Mergers Alli­ance — an inter­na­tio­nal part­ners­hip of leading M&A specia­lists — enab­les Proven­tis Part­ners to assist clients in 30 coun­tries in key markets world­wide. 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. www.proventis.com

DBAG acquires majority stake in R+S Group AG

Frank­furt am Main — Deut­sche Betei­li­gungs AG (DBAG) invests in R+S Group AG (R+S), a provi­der of tech­ni­cal buil­ding equip­ment. DBAG acqui­res the shares of the previous majo­rity share­hol­der, conzima Construc­tion GmbH, invests 15 million euros and enters into a long-term invest­ment. Haspa Betei­li­gungs­ge­sell­schaft für den Mittel­stand mbH, which has already been a share­hol­der of R+S since 2010, will conti­nue to hold an inte­rest as a mino­rity share­hol­der. The Board of Manage­ment of R+S will also acquire shares. The tran­sac­tion is subject to a finan­cing contin­gency and regu­la­tory appro­val; closing is expec­ted in April.

Expan­ded offe­ring through long-term investments

DBAG has expan­ded its offe­ring to mid-market compa­nies to include equity invest­ments that it can hold in the port­fo­lio for longer than the matu­rity limits of conven­tio­nal private equity funds allow. DBAG there­fore does not enter into such invest­ments as a co-inves­tor along­side the DBAG funds it initia­tes, but finan­ces them exclu­si­vely with funds from its own balance sheet. In this context, DBAG supports fast-growing compa­nies as a mino­rity share­hol­der and acqui­res majo­rity stakes in compa­nies with opera­tio­nal chal­len­ges. In both cases, sustainable corpo­rate deve­lo­p­ment requi­res a longer holding period than in the buyout busi­ness. A first long-term parti­ci­pa­tion was agreed in Septem­ber 2020:
Haus­held AG deve­lops intel­li­gent meter solu­ti­ons for electri­city networks — DBAG has since accom­pa­nied the company’s growth as a mino­rity shareholder.

R+S Group AG: Three inde­pen­dent busi­ness units

R+S is one of the leading compa­nies in tech­ni­cal buil­ding equip­ment. R+S imple­ments, controls and main­tains projects for muni­ci­pa­li­ties, health care, indus­try and ship­buil­ding in parti­cu­lar. R+S is a full-service provi­der; its range of services inclu­des electri­cal system construc­tion, energy and control tech­no­logy, and heating/air condi­tio­ning and venti­la­tion tech­no­logy. Among the better-known current projects are the construc­tion of the new Termi­nal 3 at Frank­furt Airport and an exten­sion for Frank­furt Univer­sity Hospi­tal. Tech­ni­cal buil­ding equip­ment accounts for just over 50 percent of sales. The company’s offe­ring is supple­men­ted by two orga­niz­a­tio­nally inde­pen­dent busi­ness units — person­nel services and a high-perfor­mance electri­cal trade. In 2020, R+S gene­ra­ted around 360 million euros in sales. The company employs 3,000 people at 30 loca­ti­ons in Germany, inclu­ding around 500 at its head­quar­ters in Fulda (Hesse).

In recent years, R+S had grown mainly through corpo­rate acqui­si­ti­ons. Howe­ver, plan­ned syner­gies could not be achie­ved because the inte­gra­tion of the acqui­red compa­nies was not driven forward quickly enough. This had a nega­tive impact on earnings, as did a number of major projects that were not suffi­ci­ently profi­ta­ble. In addi­tion, promi­sing new construc­tion projects were post­po­ned due to the pande­mic — this has affec­ted current capa­city utiliz­a­tion. R+S has an attrac­tive custo­mer base and a high order back­log. The market envi­ron­ment is good: The trend towards so-called smart buil­dings and energy-effi­ci­ent buil­dings ensu­res conti­nued growth and expands the market espe­cially for electri­cal buil­ding equip­ment, which R+S mainly offers. The reor­ga­niz­a­tion of the company, which is already well advan­ced, is to be comple­ted in the coming years to enable further profi­ta­ble sales growth. Corpo­rate acqui­si­ti­ons should then also contri­bute to this again. DBAG streng­t­hens the equity and thus acce­le­ra­tes the success­ful reor­ga­niz­a­tion of the company.

“We are inves­ting in a company in the core indus­trial services sector and with an attrac­tive market posi­tion that has crea­ted good condi­ti­ons for success­ful further deve­lo­p­ment over the past two years,” said Jannick Hune­cke, photo, member of the DBAG Manage­ment Board on the occa­sion of the signing of the contract on Friday. “DBAG has been very success­ful in inves­ting in compa­nies with simi­lar busi­ness models in the past and will use its expe­ri­ence to further advance R+S as a long-term partner.”

Ralph Burk­hardt, Chair­man of the Board of Manage­ment of R+S Group AG, empha­si­zes not only the finan­cial contri­bu­tion but above all the substan­tive contri­bu­tion of DBAG: “With our new share­hol­ders, we are well posi­tio­ned to expand our range of services to include further trades and to turn more stron­gly to custo­mers in parti­cu­larly promi­sing industries.”

About DBAG

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

General Atlantic leads €122 million round at Staffbase

Chemnitz/Munich/New York — Staff­base, a leading provi­der of digi­tal solu­ti­ons for inter­nal corpo­rate commu­ni­ca­ti­ons, and Gene­ral Atlan­tic, a leading global growth inves­tor, have agreed on a stra­te­gic part­ners­hip: Gene­ral Atlan­tic is leading a €122 million ($145 million) finan­cing round for the Chem­nitz, Germany-based start-up to help it grow inter­na­tio­nally and further expand its global leaders­hip posi­tion. Of the exis­ting inves­tors, Insights Part­ners and e.ventures are parti­ci­pa­ting in the finan­cing round; KIZOO and Capna­mic Ventures remain inves­ted. As part of the part­ners­hip, Achim Berg (photo), Opera­ting Part­ner at Gene­ral Atlan­tic and Presi­dent of the digi­tal asso­cia­tion BITKOM, will join Staffbase’s Advi­sory Board.

Foun­ded in 2014 in Chem­nitz, Germany, Staff­base has become a fast-growing and award-winning provi­der of employee apps, inter­nal email news­let­ter tools, and modern intra­nets to improve employee commu­ni­ca­ti­ons. The products are used in over 1,000 orga­niz­a­ti­ons by a total of more than 8 million people and regu­larly win awards. Custo­mers include Adidas, Audi, BHP, Deut­sche Post DHL, Grou­pon, Hita­chi, Ikea, Johns Hopkins Univer­sity, McKes­son, Paula­ner, Suncor, Viess­mann and Volvo.

The Staff­base plat­form enab­les compa­nies to commu­ni­cate with all their employees in a timely and effec­tive manner: from the crea­tion of messages in the corpo­rate design to the fast and reli­able publi­ca­tion of messages and the measu­re­ment of the impact of commu­ni­ca­tion measu­res. Staffbase’s solu­ti­ons enable more effec­tive onboar­ding, higher enga­ge­ment and grea­ter employee iden­ti­fi­ca­tion with their employer. More and more compa­nies see inter­nal commu­ni­ca­tion as an essen­tial stra­te­gic task that can be used to guide and involve employees in the digi­tal trans­for­ma­tion. In parti­cu­lar, the Covid 19 pande­mic and the asso­cia­ted proli­fe­ra­tion of a hybrid work envi­ron­ment has once again high­ligh­ted the impor­t­ance of targe­ted and agile inter­nal communications.

Dr. Martin Böhrin­ger, co-foun­der and CEO of Staff­base: “Our vision is to bring all employees of a company toge­ther through strong inter­nal commu­ni­ca­tion and a common mission. To achieve this, we support execu­ti­ves and commu­ni­ca­tion profes­sio­nals in large compa­nies with the leading digi­tal plat­form for success­ful employee commu­ni­ca­tion, which we conti­nue to expand at high speed. The part­ners­hip with Gene­ral Atlan­tic will help us further realize this goal, not least in North America. But also crucial for us is the strong local team in Germany, which will support us with its expertise.”

Dr. Chris­tian Figge, Mana­ging Direc­tor at Gene­ral Atlan­tic: “Staff­base is a global pioneer in the field of soft­ware speci­fi­cally desi­gned for inter­nal commu­ni­ca­ti­ons. We have been following this exci­ting company for some time and are now looking forward to suppor­ting the foun­ding and manage­ment team in expan­ding their global market leaders­hip. Staff­base is an excel­lent example of how broad the base of inno­va­tive compa­nies with global ambi­tion now is in Germany.”

Staff­base has 450 employees in eleven loca­ti­ons, with head­quar­ters in Chem­nitz and offices in London, New York, Vancou­ver, Amster­dam and Berlin. In early March, the company merged with Banana­tag, the leading Cana­dian provi­der of inter­nal corpo­rate commu­ni­ca­ti­ons. The combi­ned company is one of the world’s largest, highest reve­nue and fastest growing provi­ders of advan­ced inter­nal commu­ni­ca­ti­ons soft­ware. The merger added a native solu­tion for email commu­ni­ca­tion to the estab­lis­hed employee app and intra­net plat­form, as well as deeper inte­gra­ti­ons with Slack and Micro­soft 365 colla­bo­ra­tion tools, inclu­ding Micro­soft Teams and SharePoint.

Staff­base

Staff­base is one of the world’s leading and fastest growing provi­ders of employee apps and modern intra­nets to improve employee commu­ni­ca­tion in large and inter­na­tio­nal compa­nies. The mobile version allows employ­ers to secu­rely reach their employees where­ver they are — in the office, at home, on the factory floor, or on the road. The plat­form gives the work­force better access to corpo­rate infor­ma­tion and digi­tal work­place tools. With head­quar­ters in Chem­nitz and offices in New York, Amster­dam, London, Vancou­ver, Kelowna, Munich, Leip­zig, Berlin, Dres­den and Colo­gne, Staff­base enab­les inter­nal commu­ni­ca­tion that reaches all employees. Staff­base has more than 1000 custo­mers world­wide — inclu­ding DHL, T‑Systems, Viess­mann, Adidas, Paula­ner, MAN Truck & Bus SE and Audi. For more infor­ma­tion, visit staffbase.com.

Gene­ral Atlantic

Gene­ral Atlan­tic is a leading inter­na­tio­nal growth capi­tal inves­tor that provi­des capi­tal and stra­te­gic support to compa­nies with high growth poten­tial. Foun­ded in 1980, the company combi­nes a colla­bo­ra­tive global approach, indus­try-speci­fic exper­tise, a long-term invest­ment hori­zon and a deep under­stan­ding of growth drivers with outstan­ding manage­ment teams to create excep­tio­nal busi­ness models world­wide. Gene­ral Atlantic’s team inclu­des more than 175 invest­ment profes­sio­nals in New York, Amster­dam, Beijing, Green­wich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shang­hai and Sing­a­pore. www.generalatlantic.com

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 www.shearman.com.

Consortium around EMERAM and Gimv supports learning platform sofatutor

Munich — EMERAM Capi­tal Part­ners, one of the leading private equity firms for medium-sized compa­nies in the German-spea­king region, is leading an inves­tor consor­tium, inclu­ding the private equity firm Gimv, to take the digi­tal company sofa­tu­tor into its next growth phase. This repla­ces the previous shareholders.

sofa­tu­tor is the most compre­hen­sive digi­tal educa­tion plat­form for students in the German-spea­king world for grades 1 to 12 (K‑12). Number of users incre­a­sed to more than one million students in 2020, the year of success. Further digi­tal lear­ning offe­rings and inte­gra­tion into school opera­ti­ons repre­sent a key growth lever. sofa­tu­tor plans to close the gap in online lear­ning and improve access to first-class educa­tion with further inno­va­tive offe­rings. In this way, the strong growth of recent years is to be continued.

Foun­ded in 2008, the company curr­ently has more than one million users. In addi­tion, sofa­tu­tor is now used by around 25 percent of all teachers throughout Germany, as well as in the German states of Saxony and Bremen. sofa­tu­tor thus sees itself as the most compre­hen­sive provi­der of digi­tal lear­ning assi­s­tance in Germany, Austria and Switz­er­land, a market with a total of more than eleven million students.

The product and service port­fo­lio of sofa­tu­tor inclu­des a wide range of more than 11,000 videos as well as exer­ci­ses and work­s­he­ets for 14 diffe­rent school subjects. Students can flexi­bly access mate­ri­als and have a real-time chat on home­work with quali­fied teachers through sofatutor’s web-based plat­form or app.

Dr. Chris­tian Näther, Foun­ding Part­ner of EMERAM Capi­tal Part­ners, says: “Good educa­tion is a signi­fi­cant factor for a country’s society. That is why we want to support sofa­tu­tor in conti­nuously expan­ding its lear­ning offe­ring. Already, sofa­tu­tor is expe­ri­en­cing high demand for its digi­tal lear­ning offe­rings, which has been further streng­t­he­ned by home­schoo­ling and COVID-19. We would like to conti­nue this success story.” Matthias Ober­meyr, Part­ner at EMERAM Capi­tal Part­ners, adds: “Thanks to its compre­hen­sive digi­tal offe­rings, inno­va­tive strength and good value for money, sofa­tu­tor already has a strong market posi­tion. An expan­sion of this digi­tal product offe­ring as well as the further deve­lo­p­ment of digi­tal lear­ning models also offers signi­fi­cant growth potential.”

Stephan Bayer, CEO of sofa­tu­tor and foun­der of the company, explains: “With more than one million users and the large network of teachers who inte­grate sofatutor’s digi­tal lear­ning content into their lessons, sofa­tu­tor has long been the leading provi­der of digi­tal lear­ning services. With the new inves­tor consor­tium, we now have anot­her strong inves­tor group at our side that will very compet­ently accom­pany and support the company in the next growth phase. Inno­va­tive digi­tal lear­ning offe­rings will conti­nue to form our DNA in the future. We want to support schools, teachers and students not only in the after­noons, but also provide digi­tal lear­ning content in the mornings when schools are in session.”

Dr. Sven Oleow­nik, Part­ner and Head of Germany at the Euro­pean invest­ment company Gimv, which specia­li­zes in growth companies.With its invest­ment in sofa­tu­tor, Gimv rein­for­ces its ambi­tion to invest in future-orien­ted compa­nies along the funda­men­tal consu­mer trends of digi­ta­liz­a­tion, sustaina­bi­lity and conve­ni­ence. Toge­ther with EMERAM, Gimv supports an excel­lently mana­ged company whose digi­tal offe­ring perfectly addres­ses the United Nati­ons goals of high-quality educa­tion and digi­tal inno­va­tion. Koen Boucka­ert, Mana­ging Part­ner and Head Consu­mer at Gimv, added: “We are there­fore parti­cu­larly plea­sed to allo­cate part of our recently laun­ched Sustainable Bond to sofatutor’s growth story and thus make a signi­fi­cant contri­bu­tion to the company’s development.”

Advi­sor to the inves­tor consor­tium around EMERAM and Gimv:
IEG Invest­ment Banking Group (M&A), GLNS and McDer­mott (Legal), PwC (Finan­cial, Tax and Commer­cial) and Xperify (Tech/Marketing) advised.

The tran­sac­tion is subject to custo­mary condi­ti­ons, inclu­ding appro­val by the compe­ti­tion autho­ri­ties. Further finan­cial details will not be disclosed.

Andi Klein

Second Triton Smaller Mid-Cap Fund II closes at Euro 815m.

Luxem­bourg — The second Triton Mittel­stands­fonds (“TSM II”) has success­fully closed at €815 million due to strong inves­tor demand, signi­fi­cantly excee­ding the target of €600 million. The fund is the second invest­ment vehi­cle advi­sed by Triton to focus on invest­ments in low market capi­ta­liz­a­tion compa­nies. It follows the first Triton Mittel­stands­fonds (“TSM I”), which closed in 2017 with a volume of €448 million.

All fund­rai­sing was done virtually and recei­ved exten­sive pled­ges from exis­ting and new insti­tu­tio­nal inves­tors from around the world.

Peder Prahl, Direc­tor of the Gene­ral Part­ner for the Triton Funds, said, “I would like to thank all of our exis­ting and new inves­tors for their support and trust. With TSM II, we will conti­nue to invest in smal­ler and mid-sized compa­nies and in the same sectors and regi­ons as the larger company-focu­sed fund Triton V. Our goal is to create better compa­nies and help them reach their full potential.

TSM II will typi­cally acquire a majo­rity stake in compa­nies that require an equity invest­ment of between €40 million and €100 million. The fund will build on the TSM I invest­ment stra­tegy and invest in compa­nies that are leaders in their niche but are not yet reali­zing their full poten­tial. Triton will work with manage­ment to create value through further profes­sio­na­liz­a­tion, expan­sion and digi­tiz­a­tion of the businesses.

Andi Klein (photo) , Mana­ging Part­ner and Head of TSM, added: “Triton has more than 20 years of expe­ri­ence with invest­ments in small and medium-sized compa­nies. We help manage­ment teams realize the full poten­tial of their busi­nes­ses by future-proofing the stra­te­gic, opera­tio­nal or finan­cial course and lever­aging the broad Triton plat­form, inclu­ding access to an exten­sive network of indus­try and opera­tio­nal experts. A key focus of TSM is to acce­le­rate growth and scale through digi­tiz­a­tion, buy-and-build and inter­na­tio­na­liz­a­tion, where our know-how, indus­try exper­tise and inter­na­tio­nal network can create signi­fi­cant value.”

The TSM team consists of 18 invest­ment advi­sory profes­sio­nals focu­sed on sourcing, evalua­ting and deve­lo­ping compa­nies in the Triton region, prima­rily in the German-spea­king and Nordic coun­tries and the Bene­lux countries.

About Triton

Since its foun­ding in 1997, Triton has laun­ched ten funds and focu­sed on compa­nies in the indus­trial, services, consu­mer goods and health­care sectors.

The Triton funds invest in medium-sized compa­nies based in Europe and support their posi­tive deve­lo­p­ment. Triton’s goal is to success­fully deve­lop its port­fo­lio compa­nies in the long term by working toge­ther as partners.

Triton and its manage­ment strive to gene­rate posi­tive change and growth through the sustainable impro­ve­ment of opera­tio­nal proces­ses and struc­tures. At present, Triton’s port­fo­lio inclu­des 47 compa­nies with total sales of around EUR 18.4 billion and around 101,400 employees . www.triton-partners.de

 

Goodwin advises JMI Equity on strategic growth investment in Canto

Frank­furt a.M. — Good­win has advi­sed JMI Equity on a stra­te­gic growth invest­ment in Canto, a leading provi­der of digi­tal asset manage­ment software.

Foun­ded in Berlin in 1990, Canto, which now has offices in San Fran­cisco and Frank­furt, will use the addi­tio­nal funds to expand its sales teams, opti­mize product deve­lo­p­ment and drive growth in its target markets.

JMI Equity is a growth equity firm focu­sed on inves­ting in leading soft­ware compa­nies. Since its foun­ding in 1992, JMI Equity has inves­ted in more than 155 compa­nies, success­fully comple­ted more than 105 exits and raised more than $6 billion in commit­ted capital.

Good­win advi­sed JMI Equity with a team of lawy­ers in the U.S. and Frank­furt led by private equity part­ners Joshua Klatz­kin (Washing­ton, DC), Amy Keller (San Fran­cisco) and Gregor Klenk (Frank­furt).

Advi­sors JMI Equity: Good­win Frank­furt a.M./Washington
Joshua Klatz­kin (Washing­ton, DC), Amy Keller (San Fran­cisco), Gregor Klenk (Frank­furt; all Lead, all Private Equity); Heiko Penn­dorf (Tax), Felix Krue­ger (Coun­sel, Tax; both Frank­furt); Asso­cia­tes: Joana Pamu­kova, Chris­tina Papa­di­mi­triou, Caro­lin Kefer­stein, Stefan Rieg­ger (Trai­nee; all Private Equity, Frank­furt) and other Good­win lawy­ers from the Boston, New York, San Fran­cisco, Santa Monica, Sili­con Valley and Washing­ton, DC offices.

Exit: PARAGON sells NovumIP to Questel

Munich — Para­gon sells Novu­mIP to Ques­tel. As part of the tran­sac­tion, Para­gon is inves­ting in the Ques­tel Group in addi­tion to its exis­ting share­hol­ders. The acqui­si­tion is subject to anti­trust clearance and appro­val by Bafin.

Novu­mIP was crea­ted by the merger of PAVIS and Nova­graaf in 2019. The aim of this was to offer the two compa­nies’ custo­mers an even broa­der range of IP consul­ting, manage­ment and tech­no­logy-based services and to become the central point of contact for all IP-rela­ted inqui­ries, along the entire value chain.

Ques­tel is a leading global IP solu­ti­ons provi­der with an end-to-end inte­gra­ted plat­form of soft­ware and tech­no­logy-based services that address the needs of corpo­ra­ti­ons and law firms throughout the IP lifecycle.

“After the combi­na­tion of PAVIS and Nova­graaf to form Novu­mIP, the merger with Ques­tel is the next step on the way to beco­m­ing the leading global provi­der of end-to-end IP solu­ti­ons,” elabo­ra­tes Dr. Krischan von Moel­ler, Mana­ging Part­ner at Para­gon, adding, “We would like to thank Rein­hard Ottway (Execu­tive Board Member, Novum IP), Lutgarde Liezen­berg (CEO, Nova­graaf) and Thomas Gruber (CEO, PAVIS), their manage­ment team and all employees for their contri­bu­tion and extra­or­di­nary commit­ment over the past years.” Max Moser von Fils­eck, Princi­pal at Para­gon, adds “Toge­ther we have achie­ved great succes­ses in the past years, which serve as a basis for conti­nuing and further acce­le­ra­ting the strong growth momen­tum, which toge­ther with Ques­tel will gain even more momentum. ”

Para­gon and Novu­mIP were suppor­ted in the tran­sac­tion by Alva­rez & Marsal (Finan­cial), Baker McKen­zie (Law), KPMG (Tax) and Roth­schild (M&A).

About Nova­graaf
For more than 130 years, Nova­graaf has been helping well-known brands and inno­va­tive compa­nies around the world build their compe­ti­tive advan­tage. As one of the leading IP consul­tancies in Europe, Nova­graaf specia­li­zes in the protec­tion and global manage­ment of IP rights, inclu­ding trade­marks, patents, designs, domain names and copy­rights. Nova­graaf is head­quar­te­red in the Nether­lands and has 18 offices world­wide. In 2020, Nova­graaf acqui­red Thom­sen Tram­pe­dach — a firm that excels at provi­ding clients with tailo­red legal exper­tise, effi­ci­ency-enhan­cing admi­nis­tra­tive services and proac­tive commer­cial insights. www.novagraaf.com.

About PAVIS
PAVIS is a leading global provi­der of IP manage­ment services. For more than 40 years, PAVIS has been a valu­able part­ner for law firms and corpo­rate IP depart­ments with large IP port­fo­lios. Inno­va­tive tech­ni­cal solu­ti­ons, reli­able proces­ses and a high level of auto­ma­tion have made PAVIS one of the most effi­ci­ent and reli­able IP manage­ment service provi­ders. PAVIS has a focus on patent and trade­mark rene­wals. The subsi­diary PAVIS Payments is offi­cially licen­sed as a regu­la­ted payment service provi­der under the Payment Services Super­vi­sion Act (Zahlungs­diens­te­auf­sichts­ge­setz — ZAG) and is thus able to provide all services in compli­ance with the legal requi­re­ments. www.pavis.com.

About Ques­tel
Questel’s mission is to faci­li­tate the deve­lo­p­ment of inno­va­tion in an effi­ci­ent, safe and sustainable manner. Ques­tel is a provi­der of compre­hen­sive end-to-end intel­lec­tual property solu­ti­ons. The company offers a compre­hen­sive soft­ware suite for sear­ching, analy­zing and mana­ging inven­ti­ons and IP assets. Ques­tel also provi­des services along the entire IP lifecy­cle, inclu­ding prior art sear­ches, patent draf­ting, inter­na­tio­nal filings, trans­la­ti­ons and rene­wals. These solu­ti­ons, combi­ned with Questel’s IP cost manage­ment plat­form, provide their clients with an average savings of 30–60% over the entire patent prose­cu­tion budget. www.questel.com.

Advi­sor to Ques­tel, IK Invest­ment Part­ners, Eura­zeo and Raise Inves­tis­se­ment: Will­kie Farr & Gallagher
The multi­di­sci­pli­nary Will­kie team from two offices was coor­di­na­ted by Paris-based part­ner Eduardo Fernan­dez (Corpo­rate) and led in Frank­furt by part­ner Dr. Kamyar Abrar (Corpo­rate).

About Para­gon
Para­gon is an owner-mana­ged invest­ment company and has been inves­ting in medium-sized compa­nies in German-spea­king coun­tries since its foun­da­tion in 2004. Para­gon works closely with its port­fo­lio compa­nies to ensure sustainable growth and improve opera­tio­nal proces­ses. The invest­ment port­fo­lio covers various indus­tries and curr­ently compri­ses 14 compa­nies. Para­gon is based in Munich and curr­ently mana­ges €1.2 billion in equity. More infor­ma­tion can be found at www.paragon.de.

Legal advi­sor PARAGON PARTNERS: Baker McKenzie
Lead: Corporate/M&A:
Dr. Ingo Strauss (Part­ner), Dr. Heiko Gotsche (Part­ner, both Düsseldorf)
Other lawy­ers involved:
Corporate/M&A: Manuel Metz­ner (Coun­sel, Frank­furt), Juan Garcia Jacob­sen (Asso­ciate, Düssel­dorf), Lena von Richt­ho­fen (Senior Asso­ciate, Düssel­dorf), Jana Upschulte (Senior Asso­ciate, Düssel­dorf), Dr. Richard Stefan­ink (Asso­ciate, Düssel­dorf), Celina Zaim (Asso­ciate, Düssel­dorf), Denise Tayler (Asso­ciate, Frankfurt)
IT: Dr. Holger Lutz (Part­ner, Frank­furt), Simone Rieken (Senior Asso­ciate, Frankfurt)
Public Law: Anahita Thoms (Part­ner, Düssel­dorf), Alex­an­der Ehrle (Asso­ciate, Berlin)
Anti­trust: Dr. Nico­las Kredel (Part­ner, Düssel­dorf), Dr. Florian Kotman (Asso­ciate, Düssel­dorf), Dr. Jonas Brueck­ner (Coun­sel, Berlin)
Labor Law: Dr. Chris­tian Reichel (Part­ner, Frank­furt), Dr. Sebas­tian F. Pfrang (Asso­ciate, Frankfurt)
Real Estate: Dr. Daniel Bork (Senior Asso­ciate, Düsseldorf)
Tax: Chris­toph Becker (Part­ner, Frank­furt), Ariane Schaaf (Coun­sel, Frankfurt)
IP: Nadine Neumeier (Senior Asso­ciate, Frankfurt)
Banking & Finance: Phil­ipp Thimm (Asso­ciate, Frankfurt)
Commer­cial: Joachim Fröh­lich (Coun­sel, Munich)

Other Baker McKen­zie offices: Attor­neys from Baker McKen­zie offices in Belgium, Nether­lands, UK, France, Switzerland.

PEARL Infrastructure invests in Wismar biomass cogeneration plant

Wismar — Herbert Smith Free­hills has advi­sed PEARL Infra­st­ruc­ture Capi­tal as majo­rity share­hol­der on an invest­ment toge­ther with Wismar Pellets to finance the plan­ned biomass coge­nera­tion plant in Wismar. For PEARL, the tran­sac­tions mark its entry into the German biomass market. PEARL comple­ted the final closing in March 2020 with a total volume of 280 million euros (invest­ment capa­city approx. 1.2 billion euros).

The biomass coge­nera­tion plant, jointly deve­lo­ped by Green Invest­ment Group (GIG) and Wismar Pellets, will gene­rate up to 18 MWe of electri­city and 27 MWth of heat, supply­ing local manu­fac­tu­rer Wismar Pellets and sawmill ILIM Nordic Timber. The plant is expec­ted to be opera­tio­nal in Q4 2022.

PEARL Infra­st­ruc­ture Capi­tal is a private equity invest­ment fund focu­sed on the energy and green tran­si­tion in Europe. PEARL comple­ted the final closing in March 2020 with a total volume of 280 million euros (invest­ment capa­city of appro­xi­mately 1.2 billion euros); invest­ments will be made in Euro­pean rene­wa­ble energy genera­tion faci­li­ties such as biomass coge­nera­tion plants, waste recy­cling and water cycle management.

Advi­sor PEARL Infra­st­ruc­ture Capi­tal: Herbert Smith Freehills
Silke Gold­berg (Corporate/Energy, London), Dr. Marius Boewe (Energy Law, Düssel­dorf; both Lead), Dr. Chris­toph Nawroth, Dr. Sebas­tian Schü­rer (Coun­sel; both Corporate/M&A, both Düssel­dorf), Kai Liebrich (Finance), Thomas Kess­ler (Real Estate), Dr. Stef­fen C. Hörner (Tax; all Frank­furt); Asso­cia­tes: Anne Ecken­roth (Foreign Lawyer), Kris­tin Kattwin­kel (both Energy Law, both Düssel­dorf), Dr. Julius Brandt (Consul­tant, Frank­furt), Stefa­nie Strahl (both Corpo­rate; Düssel­dorf), Dr. Hannes Jacobi, Dr. Galina Matjusch­kin (both Finance, both Frank­furt), Gelena Minkov, Yvonne Spatz, Chris­tina Friess, Ja Yeon Youm (Profes­sio­nal Support Lawyer; all Real Estate), Tatiana Guens­ter (Tax; all Frank­furt), Martin Bitt­ner, Sam Cund­all, Jannis Bille, Ania Sharp, Julia Osten­dorf (Trai­nee Soli­ci­tor), Tara Theiss (Para­le­gal; all Corporate/Energy), Elinor Richard­son (Dispu­tes; all London)

Equistone acquires kitchen and sanitary fittings Franke Water Systems

Zurich — Funds advi­sed by Equi­stone Part­ners Europe (“Equi­stone”) are acqui­ring the Franke Water Systems divi­sion, a divi­sion of the Franke Group and a leading Euro­pean manu­fac­tu­rer and supplier of kitchen and sani­tary faucets for the resi­den­tial, public and commer­cial sectors. Thors­ten Klap­p­roth, form­erly CEO of Hans­grohe SE and WMF AG, is invol­ved in the tran­sac­tion as co-inves­tor. The seller of the Franke Water Systems Divi­sion, which consists of the two busi­ness units KWC Group (“KWC”) and WS Commer­cial Group (“WSC”), is Franke Holding AG (“Franke Group”). The exis­ting manage­ment team will conti­nue to drive the company’s growth stra­tegy in the future. The parties have agreed not to disc­lose details of the tran­sac­tion, which is still subject to appro­val by the rele­vant compe­ti­tion authorities.

Franke Water Systems is a divi­sion of the Franke Group, foun­ded in 1911 in Rorschach, Switz­er­land, a leading global supplier of solu­ti­ons and equip­ment for domestic kitchens, private bathrooms, semi-publi­c/­pu­blic washrooms, profes­sio­nal system cate­ring and coffee prepa­ra­tion. Franke Water Systems was estab­lis­hed as an inde­pen­dent divi­sion of the Franke Group and consists of the two busi­ness units KWC and WSC. Franke Water Systems has produc­tion sites and compe­tence centers in Europe, the United Arab Emira­tes and Asia. In 2020, the company recor­ded sales of more than 192 million Swiss francs with around 900 employees.

KWC is the Swiss market leader for resi­den­tial sani­tary, resi­den­tial kitchen and commer­cial kitchen fittings, head­quar­te­red in Unter­kulm. The tradi­tio­nal company offers its custo­mers solu­ti­ons from the medium to the luxury price segment. Thanks in parti­cu­lar to the high-quality mate­ri­als and work­manship of its products, as well as the inno­va­tive design and a promise of quality “Made in Switz­er­land”, the company enjoys great popu­la­rity among instal­lers and architects.

WSC offers its custo­mers high-quality stain­less steel fittings and compon­ents for the commer­cial and (semi-)public sani­tary sector. WSC products are used in washrooms of public faci­li­ties such as office and admi­nis­tra­tion buil­dings, sports stadi­ums as well as hotels and hospi­tals, among others. WSC has inter­na­tio­nal loca­ti­ons and is distin­guis­hed, among other things, by its compre­hen­sive and high-quality product port­fo­lio as well as its high level of service competence.

Equi­stone supports the carve-out of Franke Water Systems from the Franke Group. Toge­ther with Thors­ten Klap­p­roth, form­erly CEO of Hans­grohe SE and WMF AG, and the exis­ting manage­ment team, Equi­stone will drive the expan­sion of the inter­na­tio­nal busi­ness as well as the orga­nic and inor­ga­nic growth of Franke Water Systems — buil­ding on the solid busi­ness deve­lo­p­ment in recent years. A parti­cu­lar focus will be on further deve­lo­ping the inno­va­tive product range and expan­ding the company’s strong brand positioning.

“We are deligh­ted about the inves­tors’ confi­dence in the manage­ment team. Toge­ther with Equi­stone, we want to conti­nue to offer our custo­mers high-quality solu­ti­ons for kitchens and sani­tary faci­li­ties and success­fully deve­lop Franke Water Systems,” says Patrick Trutt­mann, CFO of Franke Water Systems.

“Franke Water Systems has excel­lent people on its team and enjoys an excel­lent market posi­tion in key Euro­pean markets, as well as great poten­tial for further profi­ta­ble growth,” says Thors­ten Klapproth.

“The Euro­pean market for kitchen and sani­tary products has been deve­lo­ping very satis­fac­to­rily for years. Franke Water Systems is ideally posi­tio­ned to play an important role in this market envi­ron­ment. With Thors­ten Klap­p­roth, we were able to gain a proven indus­try expert with many years of expe­ri­ence, who has repeatedly proven that it is possi­ble to success­fully deve­lop strong brands with enthu­si­astic employees and inno­va­tive products — both orga­ni­cally and inor­ga­ni­cally,” says Stefan Maser, Part­ner at Equi­stone Part­ners Europe.

Stefan Maser, David Zahnd and Roman Emanuel Hegglin are respon­si­ble for the tran­sac­tion on the part of Equistone.

Advi­sor Equistone:
Munich Stra­tegy (Commer­cial), tkhd (Commer­cial), KPMG (Finan­cial), Bär & Karrer (Legal, Tax), ERM (Envi­ron­ment), Marsh/Kessler (Insurance), GCA Altium (Debt Advi­sory) and Enqcor (M&A Advisory).

About Equi­stone Part­ners Europe
Equi­stone Part­ners Europe is one of the most active Euro­pean equity inves­tors with a team of more than 40 invest­ment specia­lists in seven offices in Germany, Switz­er­land, the Nether­lands, France and the UK. Equi­stone prima­rily invests in estab­lis­hed medium-sized compa­nies with a good market posi­tion, above-average growth poten­tial and an enter­prise value of between EUR 50 and 500 million. Since its foun­da­tion, equity has been inves­ted in around 160 tran­sac­tions in the DACH region and the Nether­lands, mainly mid-market buy-outs. The port­fo­lio curr­ently compri­ses over 50 compa­nies across Europe, inclu­ding around 20 active holdings in Germany, Switz­er­land and the Nether­lands. Equi­stone is curr­ently inves­ting from its sixth fund, which closed in March 2018 with €2.8 billion.

US midcap investor Rubicon Technology acquires majority stake in BrandMaker

Munich/ Karlsruhe/ Boul­der — Brand­Ma­ker, foun­ded in 2008 and head­quar­te­red in Karls­ruhe, is a manu­fac­tu­rer of soft­ware in the areas of marke­ting opera­ti­ons and marke­ting resource manage­ment and has deve­lo­ped a SaaS plat­form that enab­les large orga­niz­a­ti­ons in parti­cu­lar to control, opti­mize and auto­mate the entire marke­ting value chain. The plat­form redu­ces the comple­xity of marke­ting by enab­ling smooth coor­di­na­tion of marke­ting processes.

US finan­cial inves­tor Rubicon Tech­no­logy Part­ners was foun­ded in 2012 as a mid-cap private equity firm focu­sed on part­ne­ring with foun­ders and manage­ment teams of enter­prise soft­ware companies.

Foun­ded in 2008, Karls­ruhe-based Brand­Ma­ker has deve­lo­ped a SaaS plat­form that enab­les large orga­niz­a­ti­ons in parti­cu­lar to manage, opti­mize and auto­mate the entire marke­ting value chain. The plat­form redu­ces marke­ting comple­xity by elimi­na­ting silos and enab­ling smooth coor­di­na­tion of marke­ting processes.

Advi­sors to Rubicon Tech­no­logy Part­ners: P+P Pöllath + Partners

Otto Haber­stock, M.C.J. (Part­ner, Lead Part­ner, M&A, Private Equity)
Gerald Herr­mann (Part­ner, Tax Law)
Daniel Wied­mann, LL.M. (Asso­cia­ted Part­ner, Anti­trust, Regulatory)
Dr. Laura Grei­mel (Coun­sel, M&A, Private Equity)
Chris­tine Funk, LL.M. (Senior Asso­ciate, M&A, Private Equity, IP/IT)
Benja­min Aldeg­ar­mann, LL.M. (Senior Asso­ciate, M&A, Private Equity)
Marina Hennings (Asso­ciate, Real Estate Law)
Dr. Moritz Klein (Senior Asso­ciate, M&A, Private Equity)

Advi­sor to share­hol­ders of Brand­Ma­ker GmbH: King & Wood Mallesons

Dr. Michael Roos, Markus Herz, Lorenz Liebsch, Simon Brandt (PSL) (all Corporate/M&A)
Markus Hill, Rüdi­ger Knopf, Vikto­ria Rosbach (all tax)

MBI: SMP advises Rhein Invest on acquisition of Spiegel Institute

Berlin, March 5, 2021 — SMP advi­sed a fund mana­ged by Dutch Rhein Manage­ment B.V. (Rhein Invest) on the acqui­si­tion of Spie­gel Insti­tut Holding GmbH & Co KG, Spie­gel Insti­tut Mann­heim GmbH & Co KG, Spie­gel Insti­tut Ingol­stadt GmbH and Spie­gel Insti­tut Shang­hai Co Ltd (toge­ther Spie­gel Insti­tut) in the course of a manage­ment buy-in. The previous owners of Spie­gel Insti­tut will retain a stake in the company and will conti­nue to support the manage­ment in an advi­sory capacity.

Rhein Invest was accom­pa­nied by a team led by Jörn Wöbke and Moritz Diek­gräf. SMP’s scope of advice in this tran­sac­tion inclu­ded corpo­rate and tax advice on the acqui­si­tion as well as on the future group struc­ture and the corpo­rate and tax struc­tu­ring with regard to the manage­ment parti­ci­pa­tion as well as the return parti­ci­pa­tion of the sellers. The parties agreed not to disc­lose the purchase price or further details of the transaction.

About Rhein Invest
Rhein Invest is a Dutch invest­ment company focu­sed on majo­rity invest­ments in profi­ta­ble, small and medium-sized enter­pri­ses (SMEs) in the indus­trial, busi­ness services, soft­ware, agri­cul­tu­ral tech­no­logy and leisure sectors in the Nether­lands and Germany. Parti­cu­lar empha­sis is placed on a strong DNA, expan­da­ble market posi­tion and pronoun­ced inno­va­tive strength of the investments.

The Mirror Institute
The Spie­gel Insti­tute is an inter­na­tio­nally opera­ting rese­arch and consul­ting insti­tute for consu­mer rese­arch and user expe­ri­ence consul­ting. Foun­ded as early as 1950 by Prof. Dr. Bernt Spie­gel as the first market psycho­logy insti­tute in Germany, it now has loca­ti­ons in Mann­heim, Ingol­stadt, Stutt­gart, Hamburg, Munich and Shang­hai. From there, the Spie­gel Insti­tute is active world­wide for its renow­ned custo­mers. By inclu­ding the user and consu­mer perspec­tive in the deve­lo­p­ment process of products and services, the Spie­gel Insti­tute thus actively contri­bu­tes to the success of its custo­mers, which prima­rily include global players.

About SMP
SMP is a specia­list tax and commer­cial law firm opera­ting in the core areas of corpo­rate, funds, liti­ga­tion, tax and tran­sac­tions. SMP’s attor­neys and tax advi­sors repre­sent a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. Since its foun­da­tion in 2017, SMP has become one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners are natio­nally and inter­na­tio­nally ranked by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, SMP employs more than 60 expe­ri­en­ced lawy­ers, tax advi­sors and tax specia­lists in three offices in Berlin, Hamburg and Colo­gne. www.smp.law

Consul­tant Rhein Invest: SMP
Dr. Jörn Wöbke, Photo (Lead/M&A/Corporate Law), Partner
Dr. Moritz Diek­gräf (Co-Lead/M&A/Corporate Law), Associate
Dr. Malte Berg­mann (Taxes), Partner
Ann-Kris­tin Loch­mann (Taxes), Senior Associate
Moritz von Saß (M&A/Corporate Law), Rese­arch Associate

Luxury investor L Catterton joins BIRKENSTOCK

Berlin, March 2021 — The Ameri­can-French luxury inves­tor L Catter­ton has acqui­red a stake in BIRKENSTOCK. The indi­rect share­hol­ders of the Birken­stock Group, Chris­tian and Alex Birken­stock, retain an econo­mic inte­rest. The parties have agreed not to disc­lose the details of the agree­ment. The tran­sac­tion is subject to appro­val by the rele­vant compe­ti­tion authorities.

The stra­te­gic part­ners­hip with L Catter­ton is the next step for the global life­style brand BIRKENSTOCK to conti­nue to grow stron­gly in future markets such as China and India. In Europe and America, BIRKENSTOCK will further streng­t­hen its leading market posi­tion by inves­ting in its German sites and expan­ding produc­tion, logistics and sales. In addi­tion, further deve­lo­p­ment of the direct-to-consu­mer busi­ness and expan­sion of the company’s own e‑commerce plat­forms are planned.

Deloitte provi­ded compre­hen­sive support to Birken­stock GmbH & Co KG during the prepa­ra­tion of the entry of an inves­tor and the imple­men­ta­tion of a bidding process until the success­ful sale to the stra­te­gic part­ner L Catter­ton. Thanks to the inter­di­sci­pli­nary coope­ra­tion of Deloitte Legal’s legal advi­sors with Deloitte experts from the Tax and Finan­cial Advi­sory areas and the compre­hen­sive consu­mer goods indus­try exper­tise, the rele­vant aspects for this complex tran­sac­tion were cove­red. Seam­less coope­ra­tion with the teams of the Ameri­can invest­ment bank Gold­man Sachs, which was brought in to find an inves­tor, also contri­bu­ted to the success of the transaction.

Advi­sor Birken­stock Group: Deloitte Legal
Dr. Julia Peter­sen (Part­ner, Corporate/M&A, Berlin, Lead), Chris­to­fer Mellert (Part­ner, Corporate/M&A, Düssel­dorf), Albrecht Kind­ler (Part­ner, Corporate/M&A, Düssel­dorf), Dr. Klaus Pilz (Coun­sel, Corporate/M&A, Berlin), Dr. Juliane Wert­her-Bontje (Coun­sel, Corporate/M&A Berlin), Dr. Moritz Erkel (Asso­ciate, Corporate/M&A, Berlin), Nata­lia Vost (Asso­ciate, Corporate/M&A, Berlin) Dr. Char­lotte Sander (Part­ner Labor Law, Hano­ver), Alex­an­der Deja (Asso­ciate, Labor Law, Hano­ver), Felix Skala, LL.M. (Part­ner, Anti­trust Law, Hamburg), Katha­rina Zicker­mann, LL.M. (Asso­ciate, Anti­trust, Hamburg), Sebas­tian von Rueden (Part­ner, IT/IP, Düssel­dorf), Sonja Baier (Asso­ciate, IT/IP Düssel­dorf) Deloitte Tax: Stefan Grube (Part­ner, MP Tax & Legal Deloitte Germany, Düssel­dorf), Olga Metcher (Direc­tor, Düssel­dorf), Ann-Pascale Horst­mann (Consul­tant, Düssel­dorf), Marc Puls (Senior Mana­ger, Düssel­dorf), Chris­tian Dohm­gans (Senior Mana­ger, Düssel­dorf) Deloitte Finan­cial Advi­sory: Kars­ten Hollasch (Part­ner, Sector Lead Consu­mer Indus­try Deloitte Germany, Dussel­dorf) Roland Basler (Direc­tor, Dussel­dorf), Caro­lin Kopy­ciok (Mana­ger, Dussel­dorf), Jaque­lien Ursprung (Senior Mana­ger, Dussel­dorf); Felix Bauch­ro­witz (Mana­ger) and Julian Opfer­kuch (Senior) For USA: Gibbons P.C.: Terry Myers, Frank Cannone, Peter Flagel Invest­ment Bank: Gold­man Sachs

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. www.gvw.com.

Deloitte Legal advises founders on ECM investment in YellowFox

Düssel­dorf — A Deloitte Legal team led by Düssel­dorf-based corporate/M&A lawy­ers Michael von Rüden (Partner)and Thilo Hoff­mann (Coun­sel, both lead) advi­sed HM3T GmbH and its share­hol­ders on the sale of Dres­den-based tele­ma­tics company Yellow­Fox GmbH to a private equity fund mana­ged by ECM.

As part of the tran­sac­tion, the manage­ment and the previous share­hol­ders of Yellow­Fox were inte­gra­ted into the acqui­ring company in a way that was essen­tial for all parties involved.

Toge­ther, the part­ners aim to further drive YellowFox’s growth, parti­cu­larly in the area of modu­lar, cloud-based SaaS soft­ware solu­ti­ons for digi­tal fleet and property manage­ment, tele­ma­tics solu­ti­ons and other product inno­va­tions, acquire new custo­mers and expand sales partnerships.

In the imple­men­ta­tion of the project, the Deloitte Legal team was able to draw on the exper­tise gained in the course of accom­pany­ing a large number of tran­sac­tions in the IT and tech envi­ron­ment, thus contri­bu­ting to a success­ful course of the project for all parties involved.

The close coope­ra­tion with colleagues from BSKP and Deloitte Tax as well as the Berlin M&A advi­sor CARL enab­led compre­hen­sive inter­di­sci­pli­nary advice on all commer­cial, legal and tax aspects essen­tial to the transaction.

Advi­sor HM3T / HM3T share­hol­ders: Deloitte Legal Rechts­an­walts­ge­sell­schaft mbH

Deloitte Legal (Legal and Struc­tu­ring): Dr. Michael von Rüden (Part­ner), Thilo Hoff­mann (Coun­sel) (both Corporate/M&A, Düssel­dorf, Lead)

BSKP (Legal): Chris­tian Franz (Dres­den)
CARL (M&A): Felix Engel­hardt (Head of M&A), Guglielmo Balzola (Senior Analyst) (both Berlin) Deloitte Tax: Clemens Peter­sen (Part­ner, Frankfurt)

Advi­sor ECM/German Equity Partners:
Taylor Wessing (legal), Flick Gocke Schaum­burg (struc­tu­ring), Codex (market due dili­gence), Ebner Stolz (finance & tax), Code & Co (IT) and Willis Towers Watson (insurance)

About Yellow­Fox
Foun­ded in 2003, Yellow­Fox (https://www.yellowfox.de) provi­des tele­ma­tics solu­ti­ons for a wide range of indus­tries, vehi­cle types and company sizes. Busi­ness acti­vi­ties include the manu­fac­ture and sale of tele­ma­tics systems for vehi­cle tracking and for purpo­ses of tacho data manage­ment, mobile time record­ing, acti­vity records, order manage­ment and navi­ga­tion, consump­tion and driving style analy­ses, auto­ma­tic expense reports, elec­tro­nic forms and driver’s license moni­to­ring. The company employs about 70 people. With ECM, a stra­te­gic part­ner has joined Yellow­Fox for further strong growth.

 

 

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)

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

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