Munich \u2014 \u00a9 GFJ ESG Acqui\u00adsi\u00adtion I SE (GFJ), the first German listed SPAC (Special Purpose Acqui\u00adsi\u00adtion Company) speci\u00adfi\u00adcally for sustainable tech\u00adno\u00adlo\u00adgies, and tado GmbH (tado), a Euro\u00adpean market leader for intel\u00adli\u00adgent indoor climate manage\u00adment, have signed a mutually exclu\u00adsive letter of intent and agreed on the terms of a merger. tado GmbH is being fully advi\u00adsed by Allen & Overy LLP.<\/p>\n
The stock market vehicle under the name GFJ ESG Akqui\u00adsi\u00adtion I SE was laun\u00adched by ex-Kl\u00f6ck\u00adner mana\u00adger Gisbert R\u00fchl<\/strong> toge\u00adther with inves\u00adtor Florian Frit\u00adsch<\/strong> and former Relayr CEO Josef Brun\u00adner<\/strong>. The focus of the shell company is on Euro\u00adpean green\u00adtech compa\u00adnies. \u2014 At the launch of their GFJ-Spacs, the trio of foun\u00adders stated that they wanted to raise a sum of between 125 and 150 million euros with the acqui\u00adsi\u00adtion. It is unknown how much it should be in the case of Tado.<\/p>\n Follo\u00adwing the successful comple\u00adtion of the busi\u00adness combi\u00adna\u00adtion, tado will be listed on the Frank\u00adfurt Stock Exch\u00adange and is expec\u00adted to trade as tado SE. In connec\u00adtion with the merger, GFJ will raise addi\u00adtio\u00adnal capi\u00adtal in a private invest\u00adment in public equity (PIPE) tran\u00adsac\u00adtion. It is curr\u00adently assu\u00admed that tado will be valued at an enter\u00adprise value of around EUR 450 million as part of the transaction.<\/p>\n tado is a Euro\u00adpean market leader for intel\u00adli\u00adgent indoor climate manage\u00adment based in Munich. As the only multi-vendor plat\u00adform, its smart ther\u00admo\u00adstats and services are compa\u00adti\u00adble with any type of heating or cooling system. Custo\u00admers bene\u00adfit from energy-saving tech\u00adno\u00adlo\u00adgies such as geofen\u00adcing and window-open detec\u00adtion, as well as time-varia\u00adble rates. The company was foun\u00added in 2011, curr\u00adently employs 180 people and opera\u00adtes in more than 20 count\u00adries. The merger with GFJ will enable tado to further acce\u00adle\u00adrate its growth plans and invest massi\u00advely in its product and tech\u00adno\u00adlogy development.<\/p>\n Advi\u00adsor tado: Allen & Overy<\/strong> GFJ\u2019s advi\u00adsors include Sulli\u00advan & Crom\u00adwell LLP, Eight Advi\u00adsory, Flick Gocke Schaum\u00adburg, Boston Consul\u00adting Group and Maxi\u00admi\u00adlian Mayer.<\/p>\n About Allen & Overy<\/strong><\/p>\n Allen & Overy is an inter\u00adna\u00adtio\u00adnal law firm with appro\u00adxi\u00adm\u00adately 5,500 employees, inclu\u00adding appro\u00adxi\u00adm\u00adately 550 part\u00adners, in more than 40 loca\u00adti\u00adons world\u00adwide. allenovery.com\/locations.<\/p>\n","protected":false},"excerpt":{"rendered":" Munich \u2014 \u00a9 GFJ ESG Acqui\u00adsi\u00adtion I SE (GFJ), the first German listed SPAC (Special Purpose Acqui\u00adsi\u00adtion Company) speci\u00adfi\u00adcally for sustainable tech\u00adno\u00adlo\u00adgies, and tado GmbH (tado), a Euro\u00adpean market leader for intel\u00adli\u00adgent indoor climate manage\u00adment, have signed a mutually exclu\u00adsive letter of intent and agreed on the terms of a merger. tado GmbH is being [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":39288,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1365,1366,1367,1368,1369,1371],"tags":[],"class_list":["post-40145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-private-equity-en","category-news-en","category-lawyers-tax-advisors-auditors-en","category-lawyers-tax-consultants-auditors","category-investors","category-deals-en"],"yoast_head":"\n
\nJointly led by part\u00adner Dr. Astrid Kr\u00fcger and part\u00adner Dr. Hendrik R\u00f6hricht (both Private Equity\/M&A, Munich). It also includes part\u00adner Dr. Heike Weber (tax law), part\u00adners Dr. Michael Wei\u00df (corporate\/M&A), Dr. Knut Sauer (capi\u00adtal markets law) and Dr. Udo H. Olgem\u00ad\u00f6l\u00adler (public law). The team also includes Coun\u00adsel Peter Wehner (Labor Law) and Dr. Andre Wandt (Corporate\/M&A), Senior Asso\u00adcia\u00adtes Dr. Thomas Dieker (Tax Law), Nadine K\u00e4mper (Capi\u00adtal Markets Law, all Frank\u00adfurt) and Heiner Meck\u00adlen\u00adburg (Anti\u00adtrust Law, Hamburg) as well as Asso\u00adcia\u00adtes Corne\u00adlia Tu, Frank Weiss (both Munich), Alan James-Schulz, Vero\u00adnika Gaile (all Corporate\/M&A), Dr. Stephan B\u00fchner (Public Law) and Anne Pelzer (Labor Law, all Frank\u00adfurt). On Luxem\u00adbourg law, part\u00adners Jacques Graas (Corporate\/M&A) and Gilles Dall\u2019A\u00adgnol (Labor Law), senior asso\u00adciate Victo\u00adria Woest\u00admann and junior asso\u00adciate Jacques Hoff\u00admann (both Corporate\/M&A, all Luxem\u00adbourg) advise.<\/p>\n