ALTERNATIVE FINANCING FORMS
FOR ENTREPRENEURS AND INVESTORS

Author: Tatjana Anderer

Gründerin des FYB-Verlag
News

Munich — Hermann Rosen, foun­der of the ROSEN Group, has sold a majo­rity stake in the company to Part­ners Group, one of the world’s leading mana­gers of private market invest­ments. Hermann Rosen will remain on the board of the ROSEN Group and will reinvest in the company along­side Part­ners Group. The parties have agreed not to disc­lose the finan­cial details of the transaction.

The closing of the tran­sac­tion is still subject to the usual regu­la­tory appr­ovals and is expec­ted to take place in the first half of 2024. POELLATH provi­ded compre­hen­sive legal advice to the manage­ment of the ROSEN Group in connec­tion with the transaction.

As an inno­va­tion leader, the ROSEN Group, based in Stans (Switz­er­land), has been deve­lo­ping, produ­cing and distri­bu­ting products and services for the inspec­tion, diagno­sis and moni­to­ring of indus­trial plants for over 40 years. In its core busi­ness, the company builds inspec­tion devices that are used to inspect pipe­lines for damage. The ROSEN Group also offers soft­ware solu­ti­ons that opera­tors can use to deter­mine the condi­tion of their systems. The ROSEN Group opera­tes in over 120 count­ries at 25 loca­ti­ons and employs around 4,300 people world­wide, inclu­ding around 400 employees of the new ventures that are not part of the transaction.

The tran­sac­tion is part of Hermann Rosen’s succes­sion plan­ning and concludes a process that was initia­ted around a year ago in the inte­rests of all of the company’s stake­hol­ders. Toge­ther with his manage­ment team, Herr­mann Rosen exami­ned stra­te­gic opti­ons in order to create the condi­ti­ons for ROSEN’s long-term success.

Part­ners Group is a leading global private markets invest­ment mana­ger. Since 1996, the company has inves­ted USD 200 billion world­wide in private equity, private real estate, private debt and private infra­struc­ture on behalf of its clients. Part­ners Group seeks to gene­rate strong returns by inves­t­ing in thema­tic growth trends, ther­eby reali­zing the poten­tial of compa­nies and assets.

Part­ners Group will work with the manage­ment of ROSEN Group to leverage the company’s capa­bi­li­ties to expand into new areas and adja­cent markets, inclu­ding future energy sources, inclu­ding new oppor­tu­ni­ties in the energy tran­si­tion, such as hydro­gen pipelines.

Consul­tant to the ROSEN Group: POELLATH

Dr. Bene­dikt Hohaus (Part­ner, Manage­ment Investments/Private Equity)
Ida Süß, LL.M. (UCLA) (Asso­ciate, Manage­ment Participations/Private Equity)
Jan Lukas Jung­claus, LL.M. (Stel­len­bosch) (Asso­ciate, Manage­ment Participations/Private Equity)

News

Berlin — Rivus Ventures, Auxxo Female Cata­lyst Fund, DN Capi­tal, YZR Capi­tal and Lukas Keindl (Vet), invest 5.1 million euros in Filu. The Berlin start-up focu­ses on digi­tal vete­ri­nary prac­ti­ces. Rivus Capi­tal, Auxxo Female Cata­lyst Fund and busi­ness angels have alre­ady inves­ted around EUR 2 million in Filu GmbH.

Filou was foun­ded by Anna Magda­lena Nade­rer, Chris­tian Köhler and Justus Buchen. Filu GmbH’s mission is to make pet care more perso­nal, modern and conve­ni­ent. The company estab­lishes tech­no­logy-supported vete­ri­nary prac­ti­ces. Filu tack­les the struc­tu­ral problems of vete­ri­nary medi­cine and uses tech­no­logy to create new work oppor­tu­ni­ties with less admi­nis­tra­tive effort and more flexi­ble working models.

Advi­sor Rivus Capi­tal: Green­Gate Part­ners Rechts­an­walts­ge­sell­schaft mbH 

Marc René Spitz, LL.M. (Partner/ Corpo­rate), Dr. Tobias Schön­haar, LL.M. (Bond) (Partner/ Corpo­rate), Dr. Leonie Singer, LL.M. (Associate/ Corporate)

About Rivus Capital

Rivus Capi­tal is a family office based in Munich and origi­na­tes from the SME sector. Invest­ments are made exclu­si­vely in compa­nies that are alre­ady crea­ting a sustainable, clean, safe and healthy world for current and future gene­ra­ti­ons; the social, ecolo­gi­cal and digi­tal trans­for­ma­tion is to be promo­ted. The focus is on the effi­ci­ent use of resour­ces and healthy living. www.rivuscapital.com

About Green­Gate Partners

Green­Gate Part­ners is a tech­no­logy law firm with special exper­tise in tran­sac­tions and venture capi­tal. From our offices in Berlin, Hamburg and Munich, expe­ri­en­ced lawy­ers offer their clients first-class advice on an equal footing. Green­Gate Part­ners conti­nues to set bench­marks in the German market.

News

Eiter­feld near Bad Hersfeld/ Munich/ Paris — The Euro­pean private equity company EMZ Part­ners has acqui­red a majo­rity stake in imes-icore Holding GmbH (“imes-icore”), a leading provi­der of CNC CAD/CAM systems for the dental indus­try. The seller is the French inves­tor Ardian. In addi­tion to EMZ, foun­der and CEO Chris­toph Stark, CFO/COO Chris­tian Müller and other members of the imes-icore manage­ment team will remain or become signi­fi­cant share­hol­ders of the company.

The parties have agreed not to disc­lose the finan­cial details of the tran­sac­tion. The closing of the tran­sac­tion is still subject to custo­mary regu­la­tory approvals.

Advi­sor imes-icore: POELLATH provi­ded compre­hen­sive legal advice to the co-foun­der and CEO Chris­toph Stark and the manage­ment team of imes-icore in connec­tion with the transaction.

Foun­ded in 2002 and based in Eiter­feld near Bad Hers­feld (Hesse), imes-icore is one of the global market leaders for digi­tal dental CAD/CAM produc­tion systems. The company curr­ently offers the world’s largest port­fo­lio of milling and grin­ding machi­nes, cove­ring all dental market segments such as dentists, dental clinics, dental labo­ra­to­ries and milling centers. imes-icore employs 274 people at loca­ti­ons in Germany, the USA and South East Asia.

EMZ Part­ners is a leading Euro­pean private equity firm that acts as a dedi­ca­ted part­ner for medium-sized compa­nies that own or are seeking to acquire a signi­fi­cant or majo­rity stake in a company. The company has inves­ted in over 160 compa­nies in the last 20 years, inclu­ding company take­overs by mana­gers, buy-outs of mino­rity share­hol­ders and add-on acquisitions.

POELLATH advi­sed the co-foun­der and CEO Chris­toph Stark and the manage­ment team of imes-icore on all legal aspects of the tran­sac­tion with the follo­wing Munich-based team:
Dr. Bene­dikt Hohaus (part­ner, lead, manage­ment participation/private equity), Dr. Nico Fischer (part­ner, tax), Silke Simmer, LL.M. (Senior Asso­ciate, Manage­ment Participations/Private Equity), Andreas Gesell (Asso­ciate, Tax), Jan Lukas Jung­claus, LL.M. (Stel­len­bosch) (Asso­ciate, Manage­ment Participations/Private Equity). www.pplaw.com

News

Hamburg — Proven­tis Part­ners advi­ses Customs Support Group on the acqui­si­tion of iZD Group. Customs Support streng­thens its presence in Germany with the merger with the iZD Group.

Customs Support, the leading provi­der of customs services in Europe, is plea­sed to announce the merger with iZD Group, a freight forwar­ding inde­pen­dent customs service provi­der based in Southern Germany. The connec­tion with the iZD Group is part of Customs Support’s stra­tegy to streng­then its presence and growth in Germany.

The Customs Support Group is commit­ted to provi­ding the best possi­ble service to its custo­mers and the merger with the iZD Group is evidence of this contin­ued commit­ment. With the inte­gra­tion of the iZD Group, the Customs Support Group is now even better posi­tio­ned to serve its custo­mers in Germany and the surroun­ding countries.

”We have also had a branch in Switz­er­land for many years and are stri­ving for further inter­na­tio­na­liza­tion toge­ther with Customs Support,” says Gerd Stro­bel, Mana­ging Director.

”Quali­ta­tive and quan­ti­ta­tive growth is what we do best, which is why we want to push this even more stron­gly toge­ther with the Customs Support Group from now on,” says Clau­dia Stro­bel, Mana­ging Direc­tor of the Customs Support Group.

“We are deligh­ted to announce the merger with the iZD Group in Germany, which repres­ents a signi­fi­cant mile­stone in our ongo­ing commit­ment to expan­ding our Euro­pean busi­ness. With the iZD Group, our custo­mers are supported with an even higher level of exper­tise and resour­ces. We look forward to the jour­ney ahead of us as we conti­nue to provide our custo­mers with the highest quality services and faci­li­tate smooth inter­na­tio­nal trade,” explains Frank Weer­mei­jer, CEO Customs Support.

The role of Proven­tis Partners

Proven­tis­Part­ners has been the exclu­sive M&A advi­sor to Customs Support for its expan­sion in the DACH region for many years. In addi­tion to iden­ti­fy­ing the customs agency and cont­ac­ting the share­hol­ders, Proven­tis Part­ners carried out the stra­te­gic analy­sis of the target company and accom­pa­nied the further tran­sac­tion process from due dili­gence to commer­cial nego­tia­ti­ons and successful comple­tion. The Proven­tis Part­ners tran­sac­tion team consis­ted of Jost Hart­mann (Part­ner, Hamburg), Dr. Leon­hard Aust­mann (Asso­ciate, Hamburg) and Leon Holt­mann (Asso­ciate, Hamburg).

About iZD Group

The iZD Group, consis­ting of iZD GmbH and iZS GmbH, was foun­ded in 2000 and is one of the indus­try leaders among freight forwar­ding-inde­pen­dent customs service provi­ders in Germany with addi­tio­nal exper­tise for customs decla­ra­ti­ons in Switz­er­land. It also offers specia­li­zed customs soft­ware solu­ti­ons, trai­ning and consul­ting services in the customs sector. iZD GmbH has set itself the task of opti­mi­zing the digi­tal land­scape and simpli­fy­ing the customs clearance process for its custo­mers. The common goal of digi­ta­liza­tion and the compa­nies’ shared values and culture pave the way for grea­ter effi­ci­ency, inno­va­tion and impro­ved services. This is perfectly comple­men­ted by the new part­ner­ship with the Customs Support Group. In addi­tion to its customs clearance services, the iZD Group offers a variety of in-house and online trai­ning cour­ses via iZS GmbH, cove­ring a wide range of topics. The custo­mi­zed trai­ning cour­ses are highly valued by customers.

About Customs Support Group

Head­quar­te­red in the Nether­lands, Customs Support Group is Europe’s leading inde­pen­dent, digi­tal and neutral provi­der of customs services, employ­ing nearly 2,000 dedi­ca­ted customs experts who serve over 30,000 clients annu­ally. Customs Support Group is a port­fo­lio company of Castik Capi­tal. Through our compre­hen­sive suite of services and digi­tal capa­bi­li­ties, we consis­t­ently help clients maxi­mize compli­ance, achieve opera­tio­nal effi­ci­en­cies, opti­mize import duties, customs plan­ning, and conti­nuously evolve in an ever-chan­ging customs land­scape. In addi­tion to tradi­tio­nal brokerage and digi­tal services, the Customs Support Group offers customs consul­ting and gas measu­re­ment services. The company curr­ently opera­tes in the Nether­lands, Belgium, Germany, Poland, France, the United King­dom, Ireland, Italy, Finland, Sweden, Norway, Switz­er­land and Spain. In Europe, Customs Support Group serves nume­rous cross-border custo­mers in various sectors such as the auto­mo­tive indus­try, the food and beverage indus­try, the manu­fac­tu­ring indus­try and many others. Customs Support Group is the number one digi­tal customs broker and is inves­t­ing heavily in the digi­ta­liza­tion of customs processes.

About Castik Capital

Castik Capi­tal S.à r.l. (“Castik Capi­tal”) mana­ges private equity invest­ments. Castik Capi­tal is a Euro­pean private equity firm that acqui­res signi­fi­cant stakes in Euro­pean private and listed compa­nies where long-term value can be crea­ted through active part­ner­ships with manage­ment teams. Foun­ded in 2014, Castik Capi­tal is based in Luxem­bourg and focu­ses on iden­ti­fy­ing and deve­lo­ping invest­ment oppor­tu­ni­ties across Europe. Invest­ments are made by the Luxem­bourg-based fund EPIC II SLP. The advi­sor to Castik Capi­tal S.à r.l. is Castik Capi­tal Part­ners GmbH, based in Munich.

About Proven­tis Partners

Proven­tis Part­ners is a part­ner-led M&A advi­sory firm whose clients are predo­mi­nantly medium-sized family busi­nesses, corpo­rate groups and private equity funds. With 30 M&A advi­sors, Proven­tis Part­ners is one of the leading inde­pen­dent M&A consul­tancies in the German-spea­king region and can look back on more than 20 years of M&A expe­ri­ence and over 430 comple­ted tran­sac­tions. The M&A consul­tants with offices in Frank­furt, Hamburg and Zurich are active in the Indus­tri­als, Chemi­cals & Mate­ri­als, Busi­ness Services, Tech­no­logy & Media, Consu­mer & Retail and Health­care sectors. The exclu­sive member­ship in the Mergers Alli­ance — an inter­na­tio­nal part­ner­ship of leading M&A specia­lists — enables Proven­tis Part­ners to support clients in 30 count­ries in the most important markets world­wide. The members of the Mergers Alli­ance, with more than 250 M&A profes­sio­nals, offer Proven­tis Part­ners and its clients unique access to local markets in Europe, North America, Latin America, Asia and Africa. www.proventis.com.

News

Munich — Inter­na­tio­nal law firm Bird & Bird has advi­sed Eco-FinTech company “The Land­ban­king Group” on an US$11 million seed finan­cing round with an inter­na­tio­nal group of investors.

The Land­ban­king Group supports with the finan­cing the launch of its natu­ral capi­tal plat­form Landler.io, the first inte­gra­ted manage­ment and invest­ment plat­form for natu­ral capi­tal (biodi­ver­sity, soil, water, carbon). This allows farmers and landow­ners to become provi­ders of natu­ral capi­tal, and compa­nies in the food indus­try, for exam­ple, to become natu­ral capi­tal inves­tors. The finan­cing will enable the company to expand its custo­mer base in the agri­cul­tu­ral and food sectors and enter new markets in infra­struc­ture, energy and finan­cial services. It also allows for the deve­lo­p­ment of moni­to­ring models for addi­tio­nal biomes and ecore­gi­ons, as well as further expan­sion of usable land (agri­cul­ture and urban land) into conservation.

The seed round was led by high impact fund BonVen­ture toge­ther with natu­ral capi­tal pioneer André Hoff­mann. Venture capi­tal funds such as 4P Capi­tal, Vana­gon and Planet A will contri­bute their exper­tise in marke­ting, refi­nan­cing and impact measu­re­ment. In addi­tion, the SUN Insti­tute of the Deut­sche Post Foun­da­tion and ten fami­lies and private inves­tors, inclu­ding Prince Maxi­mi­lian von und zu Liech­ten­stein, Alexa Firmenich, Jan-Hendrik Gold­beck and Fabian Strüng­mann, are support­ing the company’s development.

Advi­sor to The Land­ban­king Group: Bird & Bird

Coun­sel Andrea Schlote (Lead, photo © Bird&Bird), Part­ner Stefan Münch, Coun­sel Dr. Chris­tina Lorenz, Asso­ciate Louisa Graf (all Corporate/M&A, Munich) and Asso­ciate Kilian Hummel (Corporate/M&A, Frank­furt), Part­ner Dr. Markus Körner and Asso­ciate Yvonne Schaafs (both IP, Munich), Part­ner Dr. Rolf Schmich, Coun­sel Michael Brüg­ge­mann and Asso­ciate Luca Eckrich (all Tax, Frankfurt).

Alre­ady in 2022, the team around Andrea Schlote and Stefan Münch supported The Land­ban­king Group in the pre-seed finan­cing round. Bird & Bird also works with The Land­ban­king Group beyond that, advi­sing them on banking regu­la­tory and IP matters, among other things.

The Landler.io plat­form combi­nes cutting-edge tech­no­lo­gies — earth obser­va­tion, digi­tal in-situ data, machine lear­ning and decen­tra­li­zed ledgers. It can thus assign a “para­me­tric” natu­ral capi­tal account to each hectare of the planet. Thus, land coope­ra­ti­ves, mana­gers, or owners become provi­ders of ecosys­tem services measu­red in nature, and corpo­ra­ti­ons or inves­tors become inves­tors in “nature equity” contracts. These contracts are a new balance sheet-quality asset class and are attrac­tive to food, agri­cul­ture, energy, resource and infra­struc­ture compa­nies, but also incre­asingly to insu­rance compa­nies and finan­cial institutions.

Bird & Bird is an inter­na­tio­nal law firm with more than 1,400 lawy­ers in 32 offices in 22 count­ries in Europe, North America, the Middle East, Asia Paci­fic and Africa, and main­ta­ins close rela­ti­onships with law firms in other parts of the world. In Germany, we are repre­sen­ted by more than 250 lawy­ers in Düssel­dorf, Frank­furt, Hamburg and Munich. We focus our consul­ting in parti­cu­lar on indus­trial sectors that are deve­lo­ping new tech­no­lo­gies and helping to shape digi­ta­liza­tion. Our attorneys:in cover the full range of busi­ness and corpo­rate law, parti­cu­larly in areas where tech­no­logy, data, regu­la­tion and intellec­tual property play a special role. www.twobirds.com.

News

Berlin / Munich — Travel soft­ware company Lanes & Planes announ­ces €33 million ($35 million) Series B finan­cing to fuel growth. The round was led by US venture capi­tal fund Smash Capi­tal. Exis­ting inves­tors Battery Ventures, Copa­rion, DN Capi­tal and AllI­ron also parti­ci­pa­ted in the round. The invest­ment is expec­ted to support Lanes & Planes’ growth and expan­sion efforts.

Accor­ding to its own data, the startup has increased its reve­nue by more than nine times since the begin­ning of 2022. With the Series B finan­cing, the company aims to increase its reach as well as expand inno­va­tive solu­ti­ons tail­o­red to the needs of busi­ness travelers.

Lanes & Planes is one of the first travel manage­ment solu­ti­ons as soft­ware-as-a-service that fully digi­tally maps all areas of busi­ness travel, an all-in-one solu­tion for busi­ness travel. The start-up was foun­ded in 2017 by Dr. Veit Blum­schein and Daniel Nolte and is based in Munich. The tool provi­des a compre­hen­sive soft­ware solu­tion for compa­nies to effi­ci­ently manage travel services, bookings, billing and expense reports. Orga­niza­ti­ons bene­fit from compre­hen­sive report­ing capa­bi­li­ties and secure rights manage­ment accor­ding to their poli­cies, while still saving up to 33% on costs.

The freshly raised capi­tal is to be used to inten­sify the Euro­pean growth stra­tegy and to expand the team in terms of personnel.

Consul­tant Lanes & Planes: YPOG

Dr. Benja­min Ullrich (Co-Lead, Tran­sac­tions), Part­ner, Berlin Tobias Lovett (Co-Lead, Tran­sac­tions), Senior Asso­ciate, Berlin Farina Weber (Tran­sac­tions), Asso­ciate, Berlin

About Battery Ventures

Battery part­ners with excep­tio­nal foun­ders and manage­ment teams deve­lo­ping ground­brea­king compa­nies in soft­ware and services, enter­prise infra­struc­ture, consu­mer tech­no­logy, health­care IT, indus­trial tech­no­logy, and life science instru­men­ta­tion. Foun­ded in 1983, the company supports compa­nies at all stages, from seed and early stage to growth and buyout, and invests globally from offices in Boston, San Fran­cisco, Menlo Park, New York, London and Tel Aviv.

About copa­rion

copa­rion is a venture capi­tal fund for early growth stage start­ups focu­sed on SaaS and tech­no­logy-enab­led market­place models. The fund supports them in growing quickly and sustain­ably over seve­ral rounds of finan­cing. Toge­ther with other inves­tors, copa­rion invests in the compa­nies. The fund does not take the lead, but plays an active role as a share­hol­der or advi­sory board to support the compa­nies. copa­rion has inves­ted in leading start-ups such as Clark, Grover, Holidu and Plan A.

About DN Capital

DN Capi­tal is a leading Euro­pean early stage venture capi­tal firm with offices in London, Berlin and Sili­con Valley. The firm focu­ses on Series A invest­ments in soft­ware, fintech, markets and consu­mer inter­net. DN Capital’s mission is to help entre­pre­neurs become global market leaders. DN has been an early stage inves­tor in leading global compa­nies such as Auto1, Shazam, Endeca, Incode, Go Student, Job and Talent, Mister Spex, Home­togo, OLX, Remitly, Quan­doo and Yassir.

About Connect Ventures

Connect is a thesis-driven venture fund. The company invests in Europe’s leading product compa­nies that deve­lop compel­ling products, made with passion and appre­cia­ted by many. Its invest­ments include Type­form, Khei­ron, Oyster, Life­bit and True­layer. The fund invests in the pre-seed and seed stages in the consu­mer, health­care, B2B Saas and fintech sectors. Toge­ther, they are exci­ted about the power of products to change people’s lives. www.connectventures.co

About YPOG

YPOG is a specia­list tax and commer­cial law firm opera­ting in the core areas of Funds, Tax, Banking & Finance and Tran­sac­tions. The YPOG team advi­ses a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. YPOG is one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners are natio­nally and inter­na­tio­nally ranked by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, YPOG employs more than 100 expe­ri­en­ced lawy­ers, tax advi­sors, tax specia­lists and a notary in three offices in Berlin, Hamburg and Cologne.

 

News

Zug/ Ever­ett (Washing­ton) — Bregal Unter­neh­mer­ka­pi­tal (BU), a leading private equity firm in the DACH region and Nort­hern Italy, today announ­ced the sale of EA Elek­tro-Auto­ma­tik (EA), a leading German supplier of elec­tro­nic test and measu­re­ment equip­ment, to US-based Fortive Corpo­ra­tion (Fortive) (NYSE: FTV). The tran­sac­tion is based on an enter­prise value of €1,585 million and is subject to custo­mary closing condi­ti­ons and regu­la­tory appr­ovals; it is expec­ted to close early in the first quar­ter of 2024.

EA was foun­ded in 1974 and is head­quar­te­red in Vier­sen, Germany. The company designs and manu­fac­tures programma­ble power supplies, elec­tro­nic loads and bidi­rec­tional power supplies used to test elec­tro­nic compon­ents in various indus­trial and R&D appli­ca­ti­ons. With over 400 employees, EA is a leading provi­der of tech­ni­cally advan­ced elec­tro­nic test and measu­re­ment equip­ment, specia­li­zing in the high-power segment of the market as well as high-growth end markets such as e‑mobility, battery storage, rene­wa­ble energy and hydrogen.

BU had acqui­red EA from the company’s foun­ders in 2019 as part of a succes­sion plan through its second fund, BU II. As part of the BU invest­ment, the manage­ment team was signi­fi­cantly streng­the­ned, EA’s inter­na­tio­nal sales and marke­ting acti­vi­ties and R&D team were greatly expan­ded, and seve­ral tech­no­lo­gi­cally leading new product lines were laun­ched. BU has also inves­ted substan­ti­ally in produc­tion capa­city at the Vier­sen site and expan­ded it signi­fi­cantly. The number of employees has increased by 250 in recent years, more than doubling. As a result, sales have increased by an average of appro­xi­m­ately 40% annu­ally since 2020.

“We are very grateful for BU’s support over the past years. Toge­ther, we have made signi­fi­cant progress on our jour­ney from a Euro­pean tech­no­logy leader to a global market leader,” says Markus Schy­boll, CEO of EA. “We are very plea­sed to be joining forces with Fortive — toge­ther we will further acce­le­rate our growth and expand our inter­na­tio­nal reach even more. We want to conti­nue to be our custo­mers’ part­ner of choice when it comes to elec­tri­fi­ca­tion and achie­ving carbon neutra­lity in our world.”

Florian Schick, co-foun­der and mana­ging part­ner of BU (photo © Bregal), adds: “We are very proud of the fanta­stic perfor­mance of EA’s manage­ment team and employees and are happy to have found a good new home for EA. Toge­ther, we stron­gly inter­na­tio­na­li­zed the company, achie­ved leading market posi­ti­ons in seve­ral fast-growing end markets, and more than tripled sales during our holding period. This tran­sac­tion is a true success story and a prime exam­ple of BU’s invest­ment approach to forging strong part­ner­ships with leading, foun­der-led compa­nies and helping them signi­fi­cantly acce­le­rate their growth.”

About Bregal Entre­pre­neu­rial Capital

Bregal Unter­neh­mer­ka­pi­tal (BU) is a leading private equity firm with offices in Zug, Munich and Milan. As part of a family busi­ness that has grown over gene­ra­ti­ons, BU’s funds invest in medium-sized compa­nies head­quar­te­red in Germany, Austria, Switz­er­land and nort­hern Italy, cove­ring a wide range of indus­tries. In its efforts to be the part­ner of choice for entre­pre­neurs and family busi­nesses, BU speci­fi­cally focu­ses on part­ner­ships with market leaders and “hidden cham­pi­ons” with a strong manage­ment team and great growth poten­tial. Since its estab­lish­ment in 2015, the funds mana­ged by BU have inves­ted over €2.7 billion in this frame­work in more than 100 compa­nies with over 20,000 employees. In close part­ner­ship with entre­pre­neurs and fami­lies, their compa­nies are further deve­lo­ped, inter­na­tio­na­li­zed and digi­ta­li­zed — so that sustainable values are crea­ted on a respon­si­ble basis in the inte­rests of the next gene­ra­tion. www.bregal.ch

About Fortive

Fortive is a provi­der of essen­tial tech­no­lo­gies for networked work­flow solu­ti­ons in a number of attrac­tive end markets. Fortive’s stra­te­gic segments include well-known brands with leading posi­ti­ons in their markets. The company’s busi­nesses encom­pass the design, deve­lo­p­ment, service, manu­fac­ture and marke­ting of engi­nee­red products, soft­ware and services and have leading brands, inno­va­tive tech­no­lo­gies and strong market posi­ti­ons. Fortive is head­quar­te­red in Ever­ett, Washing­ton, and employs more than 18,000 people in rese­arch and deve­lo­p­ment, manu­fac­tu­ring, sales, distri­bu­tion, service and admi­nis­tra­tion in more than 50 count­ries world­wide. www.fortive.com

 

News

Stuttgart/ Dres­den — Stutt­gar­ter Betei­li­gungs­ge­sell­schaft Süd Betei­li­gun­gen GmbH (SüdBG) and Wachs­tums­fonds Mittel­stand Sach­sen (WMS) sell their shares in Fabma­tics Holding GmbH. The remai­ning shares held by the foun­ding share­hol­ders Dr. Stef­fen Pollack, Lothar Andritzke and Manfred Jähnert also change hands. The new owner of the rapidly growing semi­con­duc­tor specia­list will be SCIO Auto­ma­tion GmbH, a global auto­ma­tion plat­form head­quar­te­red in Fran­ken­thal. The tran­sac­tion is still subject to regu­la­tory appr­ovals; no finan­cial details are disclosed.

Fabma­tics, foun­ded in 1991 and with loca­ti­ons in Dres­den and Utica (USA), is one of the leading suppli­ers in the auto­ma­tion of mate­rial flows in the high-tech envi­ron­ment, espe­ci­ally in the semi­con­duc­tor indus­try. The range of services covers a modu­larly desi­gned product range that includes both hard­ware and soft­ware solu­ti­ons for the auto­ma­tion of hand­ling, trans­port and storage proces­ses, mobile robo­tics and iden­ti­fi­ca­tion and loca­liza­tion solu­ti­ons. Fabma­tics works for almost all well-known chip manu­fac­tu­r­ers worldwide.

SüdBG and WMS joined the company in 2014 to secure the succes­sion and to promote further growth, while the three foun­ding share­hol­ders remained invol­ved. During the part­ner­ship, Fabma­tics has grown stron­gly, now employ­ing around 300 people and gene­ra­ting annual sales of around 45 million euros.

In addi­tion to struc­tu­ring manage­ment succes­sion, the acqui­si­tion and inte­gra­tion of Roth & Rau Ortner GmbH and the estab­lish­ment of the site in Utica (USA), parti­cu­lar empha­sis was placed on product deve­lo­p­ment, the modu­la­riza­tion of the product port­fo­lio and the expan­sion of sales.
“We are plea­sed that we were able to expand the market posi­tion of Fabma­tics in a trus­ting and close coope­ra­tion with the employees, the manage­ment, the foun­ding share­hol­ders and the advi­sory board. In addi­tion to streng­thening the orga­niza­tio­nal struc­tures, the company has successfully imple­men­ted further inter­na­tio­na­liza­tion as well as the expan­sion of the custo­mer port­fo­lio and is thus excel­lently posi­tio­ned today,” explain Gunter Max (Mana­ging Direc­tor; Photo©SüdBG) and Marius Meyer (Invest­ment Direc­tor) from SüdBG.

Dr. Stef­fen Pollack, foun­ding part­ner of Fabma­tics, adds: “Toge­ther we have deve­lo­ped Fabma­tics into a leading player in the auto­ma­tion of the semi­con­duc­tor indus­try. We are convin­ced that with SCIO at its side, Fabma­tics will bene­fit from inter­na­tio­nal networ­king and conti­nue its extra­or­di­na­rily successful development.”

About SüdBG

Süd Betei­li­gun­gen GmbH (SüdBG) is a wholly owned subsi­diary of Landes­bank Baden-Würt­tem­berg (LBBW) and has been support­ing medium-sized compa­nies for more than 50 years with custo­mi­zed equity and equity-rela­ted solu­ti­ons in the context of succes­sion plan­ning, growth finan­cing and share­hol­der changes.
As one of the leading invest­ment compa­nies in the German-spea­king region and a long-term inves­tor, SüdBG has supported over 70 compa­nies in the past 10 years with around 600 million euros and a broad network in sustainable corpo­rate deve­lo­p­ment. www.suedbg.de.

News

London/ Bad Homburg — Verdane, the Euro­pean growth-focu­sed inves­tor, has acqui­red a port­fo­lio of five profi­ta­ble tech­no­logy compa­nies and part­ne­red with HQ Equita, a leading invest­ment firm in Germany. This is Verdane’s 19th invest­ment in the DACH region and follows the opening of Verdane’s second office in Germany earlier this year.

The port­fo­lio of HQ Equita Fund V compri­ses five invest­ments: Ebert­lang, a leading pan-Euro­pean value-added distri­bu­tor of cyber­se­cu­rity and infra­struc­ture soft­ware; Muegge, an indus­trial tech­no­logy provi­der of plasma and micro­wave tech­no­lo­gies for end markets, inclu­ding the produc­tion of sustainable, lab-grown diamonds; r2p Group, a provi­der of intel­li­gent tech­no­logy systems for public trans­port; inde­vis, a cyber­se­cu­rity provi­der; and The Pack­a­ging Group, which deve­lops advan­ced pack­a­ging tech­no­lo­gies that help custo­mers switch from plas­tic to sustainable paper packaging.

The tran­sac­tion provi­des liqui­dity for the LPs and conti­nuity for the HQ Equita team, along with custo­mi­zed value crea­tion plans, stra­tegy road­maps and follow-on capi­tal for each of the five compa­nies and their respec­tive manage­ment teams. To achieve this, Verdane worked closely with HQ Equita’s team, as well as with repre­sen­ta­ti­ves from HQ Direct as the GP’s share­hol­der and the fund’s MLPs. Verdane and HQ Equita will work toge­ther to scale these assets and plan to explore future M&A oppor­tu­ni­ties for contin­ued inter­na­tio­nal growth beyond the DACH region.

HQ Equita was foun­ded in 1992 and is an estab­lished mid-market private equity inves­tor in Germany, backed by inves­tors such as insti­tu­ti­ons, foun­da­ti­ons, trusts and the Quandt Family Office.

Verdane can invest as a majo­rity or mino­rity owner, either in indi­vi­dual compa­nies or in port­fo­lios of compa­nies, and has one of the most flexi­ble invest­ment manda­tes in Europe, allo­wing for both direct invest­ments and port­fo­lio tran­sac­tions. Verdane’s unique approach is reflec­ted in its tran­sac­tion struc­ture and gover­nance model, which takes into account the indi­vi­dual inte­rests of all stake­hol­ders. In this parti­cu­lar case, the port­fo­lio tran­sac­tion crea­tes an option for the exis­ting LPs while provi­ding conti­nuity for the HQ Equita GP team, with a clear focus on unlo­cking value in the port­fo­lio compa­nies through an opti­mi­zed owner­ship structure.

Verdane will support the growth of the port­fo­lio compa­nies, and Elevate, Verdane’s team of inter­nal opera­tio­nal experts, will work closely with manage­ment in areas such as go-to-market, data, finance and talent. Verdane invests thema­ti­cally in the areas of digi­ta­liza­tion and decar­bo­niza­tion. Since its incep­tion in 2003, Verdane has comple­ted 60 port­fo­lio acqui­si­ti­ons. Another nota­ble port­fo­lio buyout and GP part­ner­ship with UK-based Lang­holm Capi­tal in 2021.

Verdane has also streng­the­ned its opera­ti­ons in the DACH region, with nota­ble invest­ments inclu­ding Hornet­secu­rity Group, a leading Euro­pean cyber­se­cu­rity soft­ware company, and Momox, Europe’s largest re-commerce plat­form. Follo­wing this tran­sac­tion, Verdane will have 19 port­fo­lio compa­nies in the DACH region.

Emanuel Johns­son, Part­ner at Verdane (photo © Verdane), commen­ted, “This is a perfect ‘Verdane port­fo­lio deal’ in the sense that we worked closely with seve­ral stake­hol­ders: HQ Equita, their long-stan­ding LP base, and the manage­ment teams of each company in the port­fo­lio. It has been a plea­sure to work closely with HQ Group repre­sen­ta­ti­ves and the team at HQ Equita, and we are exci­ted to support each of these five great compa­nies indi­vi­du­ally by lever­aging the Verdane plat­form and our exten­sive expe­ri­ence in scaling Euro­pean tech­no­logy companies.”

Malte Rippel, CEO of HQ Holding, commen­ted, “On behalf of the Harald Quandt family and HQ Group, we are very plea­sed with the outcome of this tran­sac­tion as we have found a long-term part­ner for the HQ Equita team and the fund’s portfolio.”

Hans J. Moock, a part­ner at HQ Equita, commen­ted, “We have been working with some of the compa­nies in our HQ Equita port­fo­lio since 2018 and this is an exci­ting oppor­tu­nity to conti­nue our part­ner­ship with them along­side Verdane and leverage Verdane’s global expe­ri­ence network to conti­nue their growth.”

Florian Wiem­ken, Part­ner at HQ Equita, added: “Our entire team is exci­ted about the pros­pect of part­ne­ring with Verdane, whose invest­ment will support our exis­ting stra­te­gies while offe­ring an attrac­tive long-term perspec­tive. We are very proud to embark on this jour­ney with a high-quality plat­form like Verdane.”

Fair­view Capi­tal Group, Ltd. acted as exclu­sive finan­cial advi­sor in the transaction.

Milbank served as legal coun­sel for Verdane.

Clif­ford Chance acted as legal advi­sor to HQ Equita Fund V.

News

Frank­furt a. M./Nuremberg — Deut­sche Betei­li­gungs AG (DBAG) invests in ProMik Program­mier­sys­teme für die Mikro­elek­tro­nik GmbH (ProMik), a leading global systems provi­der of programming and test systems for elec­tro­nics series produc­tion. A fund advi­sed by DBAG will acquire the majo­rity of the shares from the foun­ding family, who will remain as mino­rity share­hol­ders by means of a reverse share­hol­ding. Alex­an­der Rosen­ber­ger and Jens Rosen­ber­ger are members of the foun­ding family and will remain with the company as CTO and CMO, respectively.

A Cham­pion from Nurem­berg — ProMik Serves a Global Market

ProMik was foun­ded in Nurem­berg in 1995 and has since deve­lo­ped into a family busi­ness with global rele­vance based on more than 5,000 successful projects. More than 60 employees deve­lop sophisti­ca­ted soft­ware-driven solu­ti­ons for a market with double-digit annual growth rates. The scope of appli­ca­tion is very broad and covers the mobi­lity sector, such as in the field of auto­no­mous driving as well as the energy manage­ment of battery elec­tric vehicles.

In addi­tion, ProMik is active in consu­mer goods, e‑bikes and white goods. Indus­trial appli­ca­ti­ons and solu­ti­ons for the produc­tion faci­li­ties of elec­tro­nic assem­bly manu­fac­tu­r­ers, which serve to opti­mize test and programming proces­ses, round off the company’s profile.

“ProMik is opera­ting in a thri­ving market, and we are plea­sed to have access to such exci­ting invest­ment oppor­tu­ni­ties through our network. The company offers an excel­lent product port­fo­lio and the poten­ti­als are accor­din­gly oppor­tu­ni­ties for stra­te­gic acqui­si­ti­ons, this is where our exten­sive M&A expe­ri­ence comes into play”, says Jannick Hune­cke, member of DBAG’s Manage­ment Board.

Winfried Rosen­ber­ger, foun­der of ProMik says: “We are looking forward to the coope­ra­tion with DBAG and the oppor­tu­nity to work toge­ther on the further deve­lo­p­ment of our service port­fo­lio. We have built up the company over the past almost three deca­des, and along­side DBAG we are opti­mi­stic about the future because we have found the ideal inves­tor for the succes­sion plan­ning of our company.”

About DBAG

Deut­sche Betei­li­gungs AG (DBAG), listed on the stock exch­ange since 1985, is one of Germany’s most renow­ned private equity compa­nies. As an inves­tor and fund advi­sor, DBAG’s invest­ment focus has tradi­tio­nally been on medium-sized compa­nies with a focus on well-posi­tio­ned compa­nies with deve­lo­p­ment poten­tial, prima­rily in the DACH region. The indus­try focus is on manu­fac­tu­ring compa­nies, indus­trial service provi­ders and Indus­try­Tech compa­nies — i.e. compa­nies whose products enable auto­ma­tion, robo­tics and digi­tiza­tion — as well as compa­nies from the broad­band tele­com­mu­ni­ca­ti­ons, IT services, soft­ware and health­care sectors. Since 2020, DBAG has also been repre­sen­ted in Italy with its own office in Milan. Assets mana­ged or advi­sed by the DBAG Group amount to appro­xi­m­ately 2.5 billion euros.

News

Hamburg — The Aloys Wobben Foun­da­tion (AWS) has sold the wholly owned green energy supplier QUADRA energy to Total­Ener­gies. With QUADRA energy, Total­Ener­gies acqui­res a German market leader in the direct marke­ting of rene­wa­ble ener­gies. Allen & Overy advi­sed the Aloys Wobben Foun­da­tion on this tran­sac­tion. The parties have agreed not to disc­lose the purchase price. The tran­sac­tion is still subject to appr­oval by the rele­vant authorities.

With this tran­sac­tion, AWS wants to secure the further growth path of QUADRA energy and at the same time consis­t­ently focus on the market support of the wind turbine manu­fac­tu­rer ENERCON as the core company of AWS. ENERCON is to remain a leading turbine manu­fac­tu­rer in the inter­na­tio­nal wind market and to conti­nue and further deve­lop a stra­te­gic part­ner­ship with QUADRA energy and Total­Ener­gies in the future.

The Aloys Wobben Foun­da­tion, estab­lished in 2012, preser­ves the life’s work of wind energy pioneer Dr. Aloys Wobben and secu­res the long-term inde­pen­dence of ENERCON, the leading German and Euro­pean wind turbine manufacturer.

QUADRA energy is one of the few one hundred percent green energy supply compa­nies in Germany. The company was foun­ded in 2012 and specia­li­zes in the direct marke­ting of rene­wa­ble elec­tri­city from wind and solar power and the whole­sale of green elec­tri­city. QUADRA energy bund­les about 5,000 wind and solar plants with an instal­led capa­city of about 9,000 MW in a “virtual power plant” and is thus respon­si­ble for about 16 TWh of green elec­tri­city annu­ally. Since 2021, the company has also offe­red forward and fixed-price solu­ti­ons (PPAs) for elec­tri­city from rene­wa­bles for both gene­ra­tors and large-scale consu­mers or resellers.

Total­Ener­gies is a French global energy company with more than 100,000 employees that produ­ces and markets energy: oil and biofuels, natu­ral gas and green gases, rene­wa­bles and elec­tri­city. As part of its ambi­tious goal to become CO2 neutral by 2050, Total­Ener­gies is buil­ding a compe­ti­tive port­fo­lio of rene­wa­ble (solar, onshore and offshore wind) and flexi­ble (CCGT, storage) assets. In 2022, Total­Ener­gies gene­ra­ted more than 33 TWh of elec­tri­city and had a gross rene­wa­ble gene­ra­tion capa­city of 17 GW. Total­Ener­gies aims to further expand these acti­vi­ties to increase power gene­ra­tion to more than 100 TWh by 2030, with the goal of beco­ming one of the top 5 global power produ­cers from wind and solar energy.

Advi­sor Aloys Wobben Foun­da­tion: Allen & Overy

Manage­ment Part­ner Max Lands­hut, Asso­cia­tes Jan Axel Jost and Juliana Palavra Gorgueira (both Corporate/M&A, all Hamburg).

News

Düssel­dorf — The SIGNA Retail Group has sold the sports retailer Sport­Scheck to Frasers Group plc in a bidding process. In this tran­sac­tion, SIGNA was advi­sed by McDer­mott Will & Emery.

The closing of the tran­sac­tion is subject to appr­oval by the rele­vant anti­trust autho­ri­ties and is sche­du­led for the first quar­ter of 2024. With the acqui­si­tion of Sport­Scheck, the British retail group Frasers is expan­ding its presence in Germany as one of the largest sports markets in Europe.

Sport­Scheck is repre­sen­ted at more than 30 loca­ti­ons in Germany and gene­ra­tes annual sales of around 350 million euros.

SIGNA had acqui­red Sport­Scheck from the Otto Group at the begin­ning of 2020. McDer­mott Will & Emery also acted as legal advi­sor to SIGNA Retail in this transaction.

Advi­sor SIGNA Retail Group: McDer­mott Will & Emery, Düsseldorf

Dr. Jan Hückel (Lead), Dr. Matthias Kamp­s­hoff, Dr. Björn Biehl (Munich; all Corporate/M&A), Dr. Florian Schie­fer, Marcus Fischer (Coun­sel; both Tax Law, Frank­furt), Chris­tian Krohs, Carina Kant (Coun­sel; both Anti­trust Law, Düsseldorf/Cologne); Asso­cia­tes: Dr. Alex­an­der Hoppe, Darius M. Mosleh, LL.M. (Düsseldorf/Cologne), Tjark Pogoda (all Corporate/M&A), Le

News

Munich, Germany — Munich-based FarmIn­sect, a company specia­li­zing in insect produc­tion, has announ­ced the closing of an over­sub­scri­bed €8 million Series A finan­cing round. The round was led by Oslo-based Clima­te­Tech venture capi­tal firm Sand­wa­ter with parti­ci­pa­tion from the Bayern Kapi­tal-mana­ged Growth Fund, the Minderoo Foundation’s Stra­te­gic Impact Fund, and the Euro­pean Inno­va­tion Council’s EIC Fund. Other parti­ci­pants were the previous inves­tors HTGF and Unter­neh­mer­TUM Funding for Innovators.

A large part of the CO2 emis­si­ons gene­ra­ted in agri­cul­ture is due to the produc­tion and global trans­port of protein-rich feed­s­tuffs such as soy and fish meal. In the process, the culti­va­tion of soybe­ans, which are often used in live­stock and pet food, is accom­pa­nied by exten­sive land clea­ring, often through defo­re­sta­tion. The produc­tion of fish­meal invol­ves energy-inten­sive proces­sing and further over­fi­shing of wild fish stocks.

Small insect, big effect

FarmIn­sect GmbH, foun­ded in 2020, offers a more sustainable alter­na­tive protein source for animal feed — namely the larvae of the black soldier fly. Unlike most other compa­nies invol­ved in insect farming that build mega-facto­ries for their purpo­ses, FarmIn­sect focu­ses on decen­tra­li­zed produc­tion to make the most of previously unused energy and locally available resi­dues for insect fattening, putting these solu­ti­ons directly in the hands of farmers.

With this in mind, FarmIn­sect has deve­lo­ped a complete solu­tion that allows custo­mers to set up modu­lar insect masting systems on-site at their own farms. FarmIn­sect supplies its custo­mers weekly with young larvae that are fattened on site with regio­nal resi­dues such as shells or crop resi­dues, thus incre­asing their body weight by more than 250 times within one week. This mate­rial cycle means that high-quality, high-protein feed is produ­ced directly on site at the farm, all at lower cost, with lower CO2 emis­si­ons and comple­tely inde­pen­dent of global supply chains.

FarmInsect’s fattening faci­li­ties also produce compost as a bypro­duct, which can be sold as a high-quality ferti­li­zer or used to produce biogas. Over­all, FarmIn­sect solu­ti­ons can help farmers reduce their feed costs by up to 30%. Each process step is moni­to­red via a dedi­ca­ted FarmIn­sect soft­ware plat­form that guides custo­mers step-by-step through production.

Fresh capi­tal to expand market presence and conti­nue rese­arch and deve­lo­p­ment work

FarmIn­sect will use the capi­tal from the finan­cing round to commer­ci­ally scale up its insect bree­ding faci­li­ties, as well as for rese­arch and deve­lo­p­ment work to further improve its technology.

Thomas Kuehn, foun­der and CEO of FarmIn­sect, is plea­sed with the addi­tio­nal funding and the exter­nal vali­da­tion of his company’s poten­tial. “We are very grateful for the trust our inves­tors have placed in us. Toge­ther, we will pursue our ambi­tious goal of making insects the prefer­red protein source in the EU ahead of soy and fish meal. As a next step, we intend to inten­sify our rese­arch and deve­lo­p­ment efforts to signi­fi­cantly expand and improve current bree­ding lines.”

“We reco­gni­zed the econo­mic and ecolo­gi­cal poten­tial of insects some time ago. Howe­ver, the previous busi­ness models, which require signi­fi­cant invest­ments and are diffi­cult to scale, have given us a bell­ya­che. What we lacked was a commer­ci­ally available solu­tion that requi­red little invest­ment and was suita­ble for high produc­tion volu­mes. FarmIn­sect offers exactly this solu­tion. We are abso­lut­ely convin­ced that the company’s foun­ders are capa­ble of scaling FarmIn­sect and acce­le­ra­ting the tran­si­tion away from CO2-inten­sive protein feed,” explains Morten E. Iver­sen, share­hol­der at Sandwater.

“One thing was alre­ady clear to us when we first became invol­ved about two years ago: insect-based feeds are one of the most important pillars of sustainable and future-proof agri­cul­ture. FarmInsect’s expe­ri­en­ced team has deve­lo­ped the company in a very posi­tive way, instal­ling the first equip­ment at custo­mer sites and opening a new produc­tion site. We are extre­mely satis­fied with the coope­ra­tion so far and see great poten­tial for the future,” says Monika Steger, Mana­ging Direc­tor at Bayern Kapital.

We were very impres­sed with the foun­ders of FarmIn­sect and their decen­tra­li­zed busi­ness model with low invest­ment costs that has the poten­tial to signi­fi­cantly increase insect produc­tion in a sustainable way, provi­ding a scalable alter­na­tive protein source to fish­meal. This is in line with the Minderoo Foundation’s goals to protect and restore marine ecosys­tems, inclu­ding by redu­cing over­fi­shing of wild fish stocks,” explains Cronje Wolvaardt, Direc­tor of Impact Inves­t­ing at the Minderoo Foundation.

About FarmIn­sect

Foun­ded in 2020, FarmIn­sect GmbH is a Munich-based company specia­li­zing in insect bree­ding systems. She was part of the foun­ding cohort of the Venture Lab Food-Agro-Biotech (FAB) at the Tech­ni­cal Univer­sity of Munich. FarmIn­sect offers a complete modu­lar solu­tion for decen­tra­li­zed on-site produc­tion of insect larvae. Through a consis­tent focus on inno­va­tion, FarmIn­sect has deve­lo­ped indus­try-leading insect bree­ding tech­ni­ques and gene­tic strains with impro­ved adap­ta­bi­lity to locally available larval forage. FarmIn­sect custo­mers can reduce their feed costs by up to 30%, better utilize orga­nic waste in a mate­rial loop, and gene­rate addi­tio­nal reve­nue streams from the resul­ting manure, from biogas, and from selling larvae to third-party processors.
For more infor­ma­tion about FarmIn­sect, visit farminsect.eu.

About Sand­wa­ter

Sand­wa­ter (Oslo, Norway) promo­tes compa­nies that are leading the way in climate protec­tion and impro­ving health­care systems world­wide. Sand­wa­ter typi­cally invests in Euro­pean compa­nies in the late-seed to Series A finan­cing rounds and has made twelve invest­ments to date from its current fund. As a thema­tic inves­tor with a commit­ment to social or envi­ron­men­tal impact in its invest­ments, Sand­wa­ter focu­ses on four core areas: resource effi­ci­ency, energy tran­si­tion, impact enabler and health.
sandwater.com/

About Bayern Kapital

Bayern Kapi­tal GmbH (Lands­hut) is the venture capi­tal and growth inves­tor of the Free State of Bava­ria. It supports inno­va­tive high-tech compa­nies in Bava­ria in their various growth phases, from the seed to the later-stage phase, with equity capi­tal in the amount of 0.25 to 25 million euros. Since its foun­da­tion in 1995, Bayern Kapi­tal GmbH has inves­ted around 450 million euros in appro­xi­m­ately 300 start-ups and scale-ups from sectors such as life scien­ces, soft­ware & IT, mate­ri­als, nano­tech­no­logy and envi­ron­men­tal technology.
bayernkapital.de

About the Minderoo Foundation

The Minderoo Foun­da­tion (Perth, Austra­lia) confronts diffi­cult issues and grand chal­lenges with the goal of effec­ting profound change. Foun­ded by Andrew and Nicola Forrest in 2001, the Minderoo Foun­da­tion is proud of its Austra­lian back­ground. It is inde­pen­dent and forward-looking, seeking effec­tive, scalable solu­ti­ons. It seeks to dismantle the systems that promote inequa­lity and inequity through coura­ge­ous, colla­bo­ra­tive, and selfless action. The Minderoo Foun­da­tion stands for coope­ra­tion, commit­ment, inno­va­tion and enga­ge­ment to create a more just future. www.minderoo.org

About the Euro­pean Inno­va­tion Coun­cil (EIC)

The Euro­pean Inno­va­tion Coun­cil (EIC) Fund, initia­ted by the Euro­pean Commis­sion, is used to make invest­ments in a wide range of tech­no­lo­gies and sectors in all EU member states as well as in count­ries that have concluded an asso­cia­tion agree­ment with the EU to parti­ci­pate in the EU’s Hori­zon Europe frame­work program. The primary purpose of the EIC Fund is to support compa­nies in the deve­lo­p­ment and commer­cia­liza­tion of disrup­tive tech­no­lo­gies to fill criti­cal finan­cing gaps and spread risks more broadly by buil­ding a large network of capi­tal provi­ders and stra­te­gic part­ners suita­ble for co-invest­ment and follow-on financing.
eic.ec.europa.eu/eic-fund/

About Unter­neh­mer­TUM Funding for Innovators

Unter­neh­mer­TUM Funding for Inno­va­tors is the pre-seed funding initia­tive of Unter­neh­mer­TUM, Europe’s leading center for start-up and inno­va­tion. The initia­tive supports outstan­ding B2B start­ups in the (deep) tech sector in their early stages with the requi­red capi­tal and strong network from the Unter­neh­mer­TUM ecosys­tem. Offe­rings include grants for proto­type deve­lo­p­ment, startup-friendly conver­ti­ble bonds, and follow-on finan­cing. The primary focus is to iden­tify breakth­rough tech­no­lo­gies and excep­tio­nal teams that have the poten­tial for venture capi­tal invest­ment. funding.entrepreneurship.com

About High-Tech Gründerfonds

The seed inves­tor High-Tech Grün­der­fonds (HTGF) finan­ces tech­no­logy start-ups with growth poten­tial and has supported more than 700 start-ups since 2005. With the launch of the fourth fund, HTGF has around 1.4 billion euros under manage­ment. The team of expe­ri­en­ced invest­ment mana­gers and start-up experts supports the young compa­nies with know-how, entre­pre­neu­rial spirit and passion. The focus is on high-tech start-ups in the fields of digi­tal tech, indus­trial tech, life scien­ces, chemis­try and rela­ted busi­ness areas. To date, exter­nal inves­tors have inves­ted around EUR 5 billion in the HTGF port­fo­lio in more than 2,000 follow-on finan­cing rounds. In addi­tion, the fund has alre­ady successfully sold shares in more than 170 companies.
Fund inves­tors in the public-private part­ner­ship include the German Fede­ral Minis­try for Econo­mic Affairs and Climate Protec­tion, KfW Capi­tal, and 45 compa­nies from a wide range of industries.

News

Berlin ‑Foun­ded in Berlin in 2017, Habyt is one of the world’s leading provi­ders of flexi­ble housing and curr­ently has over 30,000 units in more than 50 cities on three conti­nents. Habyt raises €40 million in Series C from new as well as exis­ting inves­tors. — This round is led by new inves­tors Korelya Capi­tal (Paris) and Deut­sche Invest (Munich). In addi­tion, new inves­tors Exor Ventures and Endea­vor Cata­lyst parti­ci­pa­ted, as well as exis­ting share­hol­ders P101, ITALIA500-Azimut, HV Capi­tal, Vorwerk Ventures, Norwest, Kinne­vik, Burda Prin­ci­pal Invest­ments and Inveready.

Habyt plans to use the freshly raised capi­tal for further expan­sion to be present in the UK and other new markets. Since the Series B finan­cing round in 2021, Habyt has streng­the­ned its posi­tion with mergers and acqui­si­ti­ons and has expan­ded into the North Ameri­can and Asian markets. In 2023, for exam­ple, Habyt acqui­red Common Living, a player in the North Ameri­can market, conso­li­da­ting its posi­tion in the market it had ente­red in 2022 with the acqui­si­tion of Singa­pore-head­quar­te­red Hmlet.

The YPOG team, led by Dr. Benja­min Ullrich and Tobias Lovett, has advi­sed various inves­tors in previous tran­sac­tions of Habyt.

About Vorwerk Ventures

Vorwerk Ventures is an inde­pen­dent €150 million venture capi­tal fund that emer­ged from the Vorwerk Group at the end of 2019 and is charac­te­ri­zed by a strong commit­ment to consu­mer-facing and digi­tal compa­nies. Head­quar­te­red in Berlin, Vorwerk Ventures curr­ently mana­ges assets of nearly €400 million and is constantly on the lookout for promi­sing projects. Start­ing with seed and Series A invest­ments of € 1 million up to € 10 million, Vorwerk Ventures offers ongo­ing support and provi­des up to € 15 million for subse­quent finan­cing rounds.

About Burda Prin­ci­pal Investments

Burda Prin­ci­pal Invest­ments (BPI) provi­des long-term growth capi­tal for fast-growing digi­tal and tech­no­logy compa­nies. BPI is a divi­sion of Hubert Burda Media, one of Europe’s largest media and tech­no­logy groups, which has been successfully inves­t­ing in Inter­net-orien­ted compa­nies since 1998. BPI part­ners with visio­nary entre­pre­neurs who leverage Burda’s capi­tal, brands and indus­try exper­tise, parti­cu­larly in the areas of busi­ness expan­sion, inter­na­tio­na­liza­tion and loca­liza­tion. BPI has invest­ments in a port­fo­lio of highly successful and fast-growing digi­tal and tech­no­logy compa­nies in Europe, the U.S. and Asia, inclu­ding Vinted, Bloom & Wild, Carsome, Money­box, Zapp, Billease and others.

About Deut­sche Invest

Deut­sche Invest is an entre­pre­neu­rial alter­na­tive asset manage­ment plat­form with over € 4.0 billion in assets under manage­ment. Deut­sche Invest invests in Euro­pean targets with a parti­cu­lar focus on the DACH region (Germany, Austria, Switz­er­land). Deut­sche Invest is active in four invest­ment stra­te­gies: Capi­tal Solu­ti­ons, Special Situa­tions, Tech­no­logy and Real Estate. The team has privi­le­ged access to prime invest­ment oppor­tu­ni­ties with an attrac­tive risk-return profile. Deut­sche Invest’s approach is desi­gned for the long term and is based on trus­ting coope­ra­tion with all part­ners. As an inves­tor and owner with stra­te­gic and opera­tio­nal know-how, Deut­sche Invest is a relia­ble part­ner with high profes­sio­nal and clear ethi­cal standards.

About YPOG

YPOG is a specia­list tax and commer­cial law firm opera­ting in the core areas of Funds, Tax, Banking & Finance and Tran­sac­tions. The YPOG team advi­ses a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. YPOG is one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners are natio­nally and inter­na­tio­nally ranked by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, YPOG employs more than 100 expe­ri­en­ced lawy­ers, tax advi­sors, tax specia­lists and a notary in three offices in Berlin, Hamburg and Colo­gne. www.ypog.law

News

Berlin — Motive Ventures Manage­ment GmbH, the German-based early-stage inves­tor of Motive Part­ners, has successfully laun­ched its new EuVECA fund Motive Early Stage (AAV). Motive Ventures focu­ses on pre-seed to Series A invest­ments in the finan­cial tech­no­logy indus­try in North America and Europe. The team consists of 13 employees in Berlin, London and New York. — POELLATH advi­sed Motive Ventures on the launch of the Motive Early Stage (AAV) fund, a stra­te­gic part­ner­ship with ABN AMRO.

Under a stra­te­gic part­ner­ship between U.S.-based Motive Part­ners and ABN AMRO, Motive Ventures will manage the Motive Early Stage (AAV) Fund with assets of €150 million, compri­sing invest­ments in 15 port­fo­lio compa­nies. In addi­tion, ABN AMRO will become a signi­fi­cant inves­tor in the Motive Early Stage (E) Fund.

Motive Part­ners is a U.S.-based leading inter­na­tio­nal private equity firm focu­sed on venture, growth capi­tal and buyout invest­ments in the tech­no­logy-enab­led finan­cial services sector. ABN AMRO is a Northwest Euro­pean retail, commer­cial and private banking bank head­quar­te­red in Amster­dam. The part­ner­ship reflects the shared commit­ment of two major finan­cial tech­no­logy inves­tors to driving contin­ued inno­va­tion and growth in the evol­ving industry.

POELLATH advi­sed Motive Ventures on all contrac­tual, regu­la­tory and tax aspects of the fund struc­tu­ring as part of the stra­te­gic part­ner­ship with the follo­wing Berlin team:

Dr. Philip Schwarz van Berk (Part­ner, Lead Part­ner, Private Funds)
Ronald Buge (Part­ner, Tax / Private Funds)
Nele Frie (Asso­ciate, Private Funds)
Katha­rina Hammer (Asso­ciate, Private Funds)

News

Frank­furt, London and Munich — KKR Health Care Growth Fund II has made an invest­ment in German biophar­maceu­ti­cal rese­arch and deve­lo­p­ment company Corio­lis Pharma. As part of the tran­sac­tion, Corio­lis Pharma will enter into a stra­te­gic growth part­ner­ship with Fron­tier Bioso­lu­ti­ons, a global phar­maceu­ti­cal services plat­form newly formed by KKR and Flerie Invest AB.

KKR’s invest­ment will enable Corio­lis to embark on the next phase of growth in its core busi­ness, expand its port­fo­lio of services along the value chain, streng­then its global presence and conti­nue to inte­grate AI-based technologies.

Corio­lis is expec­ted to gain access to KKR’s global health­care network and Fron­tier Bioso­lu­ti­ons to expand Corio­lis’ global opera­ti­ons and growth plans in inno­va­tive, high-value formu­la­tion rese­arch and deve­lo­p­ment services.

“Since Corio­lis was foun­ded 15 years ago, our vision has been to revo­lu­tio­nize the biophar­maceu­ti­cal drug deve­lo­p­ment process by inte­gra­ting inno­va­tive digi­tal formu­la­tion approa­ches from deve­lo­p­ment through commer­cial products,” said Corio­lis co-foun­ders and board members Michael and Thomas Wiggen­horn. The coope­ra­tion with KKR should enable major steps forward in this regard and further expand the company’s scien­ti­fic leader­ship posi­tion, he said.

The Gibson Dunn team, led by London part­ner and co-head of the private equity prac­tice in Europe Wim De Vlie­ger and Frank­furt part­ners Dr. Wilhelm Rein­hardt and Dr. Jan Schu­bert, included London coun­sel Dr. Jakob Egle and asso­cia­tes Sonja Rutt­mann, Dr. Dennis Seif­arth (both Munich), Lisa Holl­fel­der (Frank­furt) and Gisele Zouein (London). Brussels anti­trust and compe­ti­tion law part­ner Attila Borsos and London asso­cia­tes Ben Nunez and Robert Albert­son Kill as well as corpo­rate coun­sel Dr. Birgit Friedl and asso­ciate Dr. Marcus Geiss (both Munich) supported the team. In Munich, part­ner Kai Gesing and asso­cia­tes Chris­toph Jacob and Yannick Ober­acker advi­sed on IP issues, while Frank­furt finance coun­sel Alex­an­der Klein and asso­ciate Bastiaan Wolters advi­sed on finan­cing issues.

About Gibson Dunn

Gibson, Dunn & Crut­cher LLP is one of the leading inter­na­tio­nal law firms and is ranked among the top law firms world­wide in indus­try surveys and by autho­ri­ta­tive publi­ca­ti­ons. With more than 1,800 lawy­ers in 20 offices, the firm has a global presence in all major econo­mic regi­ons. Gibson Dunn offices are loca­ted in Abu Dhabi, Brussels, Century City, Dallas, Denver, Dubai, Frank­furt, Hong Kong, Hous­ton, London, Los Ange­les, Munich, New York, Orange County, Palo Alto, Paris, Beijing, San Fran­cisco, Singa­pore and Washing­ton, D.C. For more infor­ma­tion, visit www.gibsondunn.com.

News

Munich, Octo­ber 12, 2023 — Birken­stock Holding plc (NYSE: BIRK) and its prin­ci­pal share­hol­der L Catter­ton are being advi­sed by Kirk­land & Ellis on the IPO of Birken­stock. The IPO included 10,752,688 million ordi­nary shares issued and sold by Birken­stock and 21,505,376 ordi­nary shares sold by BK LC Lux MidCo S.à r.l., an affi­liate of L Catter­ton. The common shares were each offe­red at an issue price of $46.00 per share.

In connec­tion with the offe­ring, the selling share­hol­der gran­ted the under­wri­ters a 30-day option to purchase up to an addi­tio­nal 4,838,709 shares of common stock to cover over-allot­ments. The shares have been traded on the New York Stock Exch­ange under the symbol “BIRK” since Octo­ber 11, 2023. The closing of the offe­ring is expec­ted to occur on Octo­ber 13, 2023.

Birken­stock is a global univer­sal brand that appeals equally to all consu­mers regard­less of geogra­phy, gender, age or income and is commit­ted to a clear goal — preser­ving foot health.

Advi­sors to Birken­stock Holding plc and L Catter­ton: Kirk­land & Ellis, Munich

Dr. Anna Schwan­der, Foto (Capi­tal Markets), Dr. Benja­min Leyen­de­cker, Dr. Philip Goj (both Private Equity/M&A) (all Lead), Sieg­fried Bütt­ner (Capi­tal Markets), Dr. David Huth­ma­cher, Greta-Jose­fin Harnisch (both Private Equity/M&A), Daniel Hiemer (Tax)

Kirk­land & Ellis, New York: Ross Leff, Joshua Korff, Zoey Hitzert (all lead, all Capi­tal Markets), Joshua Kogan (Private Equity/M&A), Steph Matko (Execu­tive Compen­sa­tion); Asso­cia­tes: Sarah Lipin­ski, Jessica Pushka, Varun Baliga (all Capi­tal Markets)
Kirk­land & Ellis, Boston: Vincent Thorn, Bran­don Short (both Tax)
Kirk­land & Ellis, London: Alan Walker (Tax)

About Kirk­land

Kirk­land & Ellis is one of the leading firms for high-cali­ber legal services, with appro­xi­m­ately 3,500 lawy­ers in 19 cities in the U.S., Europe and Asia. The Munich team advi­ses with a focus on private equity, M&A, corpo­rate law, capi­tal markets, restruc­tu­ring, finan­cing and tax law. www.kirkland.com.

News

Isern­ha­gen — The ARTUS Group acqui­res the SI.TEQ Group from an inves­tor group advi­sed by Rigeto Unter­neh­mer­ka­pi­tal. In total, ARTUS BSG is thus growing by a further thir­teen loca­ti­ons and by a further 140 employees. — A Colo­gne-based private equity team led by Dr. Pär Johans­son and Kris­tina Schnei­der provi­ded compre­hen­sive advice to the ARTUS Group on the acqui­si­tion of the SI.TEQ Group from the previous share­hol­ders, under the leader­ship of rigeto.

The SI.TEQ Group is a leading reme­dia­tion service provi­der opera­ting in Nort­hern Germany and Bava­ria and has been active in the market since 2005. The main focus of the SI.TEQ Group is the provi­sion of craft services for the resto­ra­tion of small to medium damage to resi­den­tial buildings.

ARTUS Bautrock­nung- und Sanie­rungs­gruppe is one of Germany’s leading resto­ra­tion service provi­ders in the field of fire, water, mold and natu­ral hazard damage as well as buil­ding drying and heating. With more than 1,400 employees at over 75 loca­ti­ons, the company offers complete solu­ti­ons for the entire refur­bish­ment process.

With the acqui­si­tion of the SI.TEQ Group, ARTUS Bautrock­nung- und Sanie­rungs­gruppe is further expan­ding its site density in order to offer its custo­mers a compre­hen­sive and holi­stic service approach. In parti­cu­lar, the exper­tise of SANTEQ GmbH Scha­den­ma­nage­ment in the medium and large loss segment is expec­ted to contri­bute to the further growth of the over­all group.

The Heuking team has alre­ady been advi­sing ARTUS since 2019 and now acted for ARTUS in its second add-on acqui­si­tion since the entry of private equity inves­tor Castik.

Advi­sor to the ARTUS Group: Heuking Kühn Lüer Wojtek

Dr. Pär Johans­son, Kris­tina Schnei­der, LL.M. (Photo © Heuking), Dr. Ann-Kath­rin Jungen, (all Private Equity, Corporate/M&A); Dr. Verena Hoene, LL.M. (IP, Media & Tech­no­logy), Dr. Lutz Martin Keppe­ler (Data Privacy), Dr. Sascha Sche­wiola (Labor Law), all Cologne,
Mathis Dick, LL.M., Markus Vlasic, Dr. Peter Zimmer­mann (all Real Estate), all Düsseldorf,
Dr. Henrik Lay (Tax Law), Dr. Frede­rik Wiemer (Anti­trust Law), both Hamburg

News

Helsinki/ Langen­feld — Labqua­lity Oy acqui­res P.R.I.S.M.A.-CRO Clini­cal Rese­arch Orga­niza­tion. P.R.I.S.M.A. is a German company specia­li­zing in clini­cal trial services for the phar­maceu­ti­cal and biotech indus­tries. P.R.I.S.M.A. and its expe­ri­en­ced profes­sio­nals streng­then Labquality’s offer of clini­cal trials in the phar­maceu­ti­cal and biotech markets. The acqui­si­tion is in line with Labquality’s stra­tegy to build a full-service inter­na­tio­nal contract rese­arch orga­niza­tion (CRO). — A team led by Dr. Jörg Schewe, Heuking Part­ner at the Hamburg office, advi­sed Finnish Labqua­lity Oy on the acqui­si­tion of P.R.I.S.M.A.-CRO Clini­cal Rese­arch Orga­ni­sa­tion GmbH.

Labqua­lity Oy is a Finnish company based in Helsinki. The team consists of health­care and health tech quality experts. Labqua­lity provi­des quality services to the health­care, phar­maceu­ti­cal and medi­cal device indus­tries; these include exter­nal quality assess­ments, regu­la­tory consul­ting, clini­cal trials and studies, audits and certi­fi­ca­ti­ons, and trai­ning. Labqua­lity supports medi­cal device and in vitro diagno­stic manu­fac­tu­r­ers, phar­maceu­ti­cal compa­nies, health­care faci­li­ties, and clini­cal labo­ra­to­ries, among others.

The acqui­si­tion of P.R.I.S.M.A. enables Labqua­lity to expand its CRO busi­ness in the Euro­pean phar­maceu­ti­cal market. This expands Labquality’s clini­cal trial services to phar­maceu­ti­cals in Germany and streng­thens its posi­tion as a CRO service provi­der for the phar­maceu­ti­cal and health­care tech­no­logy indus­try.

Advi­sor Labqua­lity Oy: Heuking Kühn Lüer Wojtek

Dr. Jörg Schewe (lead), Caro­line Frohn­wie­ser (photo © Heuking), both Hamburg,
Sebas­tian Poll­meier (all M&A /Corporate), Düsseldorf,
Dr. Henrik Lay, Simon Pommer, LL.M. (both tax law), both Hamburg,
Dr. Lutz Keppe­ler (Infor­ma­tion Tech­no­logy & Tele­com­mu­ni­ca­ti­ons), Cologne,
Dr. Andreas Walle, Theresa Arndt, LL.M. (both Labor Law), Larissa Krebs (Corpo­rate / Finance), all Hamburg,
Michael Kuska, LL.M., LL.M. (Infor­ma­tion Tech­no­logy & Tele­com­mu­ni­ca­ti­ons, GDPR), Julian Rosen­feld (GDPR), both Düsseldorf,
Cata­rina Ange­lika Seemann, LL.M. (Regu­la­tory / Health Care & Life Scien­ces), Munich

News

Hamburg — Ventus­Ven­tures has sold 80% of its shares in eMIS Deutsch­land GmbH to EB Ener­gie­wende Fonds, an impact-gene­ra­ting Article 9 fund of sustainable asset mana­ger EB-SIM. Even after the sale of these majo­rity shares, Ventus­Ven­tures remains a share­hol­der in the company.

eMIS Deutsch­land GmbH supports public trans­port compa­nies, muni­ci­pal utili­ties and compa­nies in the elec­tri­fi­ca­tion of their vehicle fleets. To this end, the company rents out the entire infra­struc­ture consis­ting of elec­tri­city, buses, trans­for­mer, char­ging infra­struc­ture, energy manage­ment and offers compre­hen­sive services.

Ventus­Ven­tures provi­des consul­ting and services to clients in the energy and finance indus­tries with a focus on rene­wa­ble energy. The busi­ness areas of the group, which is head­quar­te­red in Hamburg, include wind energy, solar energy, real estate and mobi­lity transition.

Advi­sor Ventus­Ven­tures: GvW

Led by Dr. Marco Zessel (photo © GvW) with a cross-loca­tion team consis­ting of Jan Hüni­ken, Alex­an­der Metz (all M&A), Dr. Michael Engel (Tax), Dr. Malte Evers, Marius Boden­stedt (both Labor), Dr. Chris­tian Triebe, Naomi Nieder­meier (both IP), Dr. Patrick Wolff (Finan­cing), Dr. Gerd Schwen­din­ger and Chris­to­pher Vollert (both State Aid).

About GvW

GvW is a part­ner­ship with over 200 lawy­ers. 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. For more infor­ma­tion, visit www.gvw.com.

News

Braunschweig/ Munich/ Texas — Oppen­hoff advi­sed the US-based Stat­Lab Medi­cal Products Group on the acqui­si­tion of all shares in Walde­mar Knit­tel Glas­be­ar­bei­tungs GmbH. Stat­Lab conti­nues its stra­tegy to expand globally, provi­ding the most stable supply chain of high quality products for labo­ra­to­ries around the world. Stat­Lab has been a port­fo­lio company of private equity inves­tors Audax Private Equity and Linden Capi­tal Part­ners since 2021.

Head­quar­te­red in Texas, USA, Stat­Lab was foun­ded in 1976 and is a leading deve­lo­per and manu­fac­tu­rer of anato­mic patho­logy consu­ma­bles, labe­l­ing and control equip­ment for rese­arch and clini­cal laboratories.

Knit­tel was foun­ded in Braun­schweig, Germany in 1987 and is one of the world’s largest manu­fac­tu­r­ers of micro­scope slides and cover­slips produ­ced in ISO13485 certi­fied faci­li­ties. Knit­tel also offers tech­ni­cal consul­ting services for the glass industry.

Audax Private Equity, based in Boston and San Fran­cisco, USA, is a leading middle-market invest­ment firm with appro­xi­m­ately $16 billion in assets under manage­ment. Since its foun­ding in 1999, the company has inves­ted in more than 160 plat­forms and 1,200 add-ons. Audax Private Equity is part of the Audax Group.

Linden Capi­tal Part­ners, based in Chicago, USA, is a private equity firm focu­sed exclu­si­vely on the health­care indus­try. Since its incep­tion in 2004, Linden has inves­ted in more than 40 health­care compa­nies, with a total of more than 250 transactions.

Advi­sor Stat­Lab Medi­cal Products Group: Oppenhoff

Lead by Dr. Markus Rasner included Moritz Schmitz, Till Liebau, Lisa Zimmer­mann (all private equity), Dr. Gunnar Knorr (tax), Dr. Simon Spang­ler (merger control), Stephan Müller, Dr. Cars­ten Bormann (Invest­ment Control), Marc Alex­an­der Häger, Julia Höyng (Real Estate), Anja Dombrow­sky, Corne­lia-Cris­tina Scupra (Labor Law), Dr. Jürgen Hartung, Tobias Kolla­kow­ski, Patrick Schwarze (IT/Data Protec­tion), Dr. Hanna Schmidt (Commer­cial) and Georg Leche­ler (Intellec­tual Property).

Oppen­hoff regu­larly advi­ses on add-ons of private equity port­fo­lio compa­nies, such as most recently DISA Global Solu­ti­ons on the acqui­si­tion of SIGNUM Consul­ting, Christ & Wirth Haus­tech­nik on the acqui­si­tion of Möller Klima-Kälte GmbH or the MRH Trowe Group on the acqui­si­tion of Lurse AG.

The full-service law firm Oppen­hoff finds indus­try-speci­fic solu­ti­ons for groups, large owner-mana­ged compa­nies and finan­cial inves­tors. More than 100 attor­neys advise on all major areas of busi­ness and tax law.

News

Munich, Germany — Euro­pean tech inves­tor Tenzing today announ­ced that it has inves­ted in Mahr EDV (“Mahr”), a provi­der of mana­ged IT services for small and medium-sized enter­pri­ses (SMEs). This colla­bo­ra­tion repres­ents an important mile­stone for Tenzing, as it is the first Euro­pean invest­ment since its expan­sion into the DACH region in Janu­ary 2023.

Tenzing, a Euro­pean tech­no­logy inves­tor head­quar­te­red in London with addi­tio­nal offices in Stock­holm and Munich, focu­ses on invest­ments in tech­no­logy and tech­no­logy-orien­ted companies.

Mahr was foun­ded in 1999 by visio­nary CEO Fabian Mahr and is head­quar­te­red in Berlin. With a strong presence throug­hout Germany, inclu­ding key loca­ti­ons such as Düssel­dorf, Colo­gne, Dres­den, Leip­zig, Essen and Hamburg, Mahr has a dyna­mic team of over 180 experts. The dedi­ca­ted employees serve a diver­si­fied custo­mer base of more than 600 medium-sized custo­mers, most of which are loca­ted in Germany.

In times of IT skills shorta­ges and constant cyber thre­ats, demand for IT outsour­cing and mana­ged cloud services conti­nues unab­a­ted. Mahr is ready to tackle these chal­lenges head-on with its one-face-to-the-custo­mer approach tail­o­red to the under-digi­ti­zed German SME sector.

The company’s unwa­ve­ring commit­ment to unpar­al­le­led custo­mer service was reco­gni­zed in the leading DACH IT services study, “Best IT Service Provi­ders,” conduc­ted by IT decis­ion-makers from 2,500 midsize compa­nies and conduc­ted by Chan­nel­Part­ner and the market rese­arch insti­tute iSCM: Mahr took first place among more than 700 IT service provi­ders in the cate­go­ries of exper­tise, stra­te­gic custo­mer under­stan­ding and response time.

Fabian Mahr, foun­der and CEO of Mahr, comm­ents: “In the search for the perfect part­ner, Mahr has shown a lot of pati­ence, because we know that our true poten­tial can only be reali­zed with the right alli­ance. While we achie­ved key mile­sto­nes on our own, the dyna­mic and highly compe­ti­tive IT land­scape requi­red a part­ner with the exper­tise and agility to help us execute our expan­sion plans. Tenzing goes beyond the tradi­tio­nal M&A role; they are the bridge that will quickly take us to a promi­sing future. Their inno­va­tive thin­king and approach to value crea­tion seam­lessly comple­ments our uncon­ven­tio­nal approach to problem solving.”

Chris­tian Ramme, Invest­ment Lead DACH at Tenzing (Photo © TENZING), added: “The DACH IT services market, worth €4.8 billion and growing at 7.6% annu­ally, holds immense poten­tial for Mahr. Mahr has increased its sales by 34% in the last 12 months and has been able to open bran­ches in four addi­tio­nal cities, cove­ring all of Germany with 14 locations.”

Mahr is the ninth invest­ment under Tenzing’s £400 million Fund II, which has been inves­t­ing since 2021 and is one of sixteen high-growth compa­nies in Tenzing’s portfolio.

Legal advi­sors Tenzing: Gütt Olk Feld­haus, Munich

Dr. Heiner Feld­haus (Lead Part­ner), Adrian von Prit­t­witz, LL.M. (LSE) (both part­ners, M&A/Corporate), Thomas Becker, LL.M. (Of Coun­sel, IP/IT/Data Protec­tion and Commer­cial), Matthias Uelner (Senior Asso­ciate), Sophie Stef­fen (Asso­ciate; both M&A/Corporate)

Alten­burg Fach­an­wälte für Arbeits­recht, Munich: Andreas Ege, Dr. Dirk Schnelle (both Labor Law)

held jagut­tis, Colo­gne: Dr. Simeon Held, Dr. Malte Jagut­tis, Dr. Bernard Altpe­ter, Dr. Alex­an­der Pehl (all Public Commer­cial Law)

Kind & Drews, Düssel­dorf: Dr. Ernesto Drews (Tax, Real Estate)

Consul­tant Tenzing:

Houli­han Lokey (M&A), OMMAX (Commer­cial) and KPMG (Finan­cial and Tax) advised.

News

Munich — SKW Schwarz advi­sed the French SOLCERA GROUP SAS on the acqui­si­tion of all shares in VITRON Spezi­al­werk­stoffe GmbH. The tran­sac­tion streng­thens the SOLCERA Group’s opti­cal and infrared mate­ri­als business.

The SOLCERA Group has been deve­lo­ping and distri­bu­ting advan­ced cera­mics for over 200 years and has a strong presence in the aero­space, defense and nuclear industries.

VITRON Spezi­al­werk­stoffe GmbH, based in Jena, Germany, is a specia­li­zed manu­fac­tu­rer and supplier of mate­ri­als and compon­ents for infrared optics (zinc sulfide and chal­co­ge­nide glas­ses) and machinable glass cera­mics for tech­no­logy and medicine.

Advi­sor SOLCERA GROUP SAS: SKW Schwarz, Munich

Dr. Stephan Morsch (Lead Part­ner), Dr. Angela Poschen­rie­der (Coun­sel; both Corporate/M&A), Dr. Klaus Jankow­ski (Foreign Trade Law, Berlin); Asso­ciate: Maria Rothä­mel (Foreign Trade Law, Berlin)

News

Munich — McDer­mott Will & Emery has advi­sed US private equity inves­tor Great Moun­tain Part­ners on the acqui­si­tion of SquareOne Enter­tain­ment GmbH for the newly formed Vuelta Group. SquareOne Enter­tain­ment GmbH is a film and TV produc­tion and distri­bu­tion company based in Unter­föh­ring near Munich.

The Vuelta Group is a pan-Euro­pean company for the distri­bu­tion and produc­tion of cinema and TV projects for an inter­na­tio­nal audi­ence. The Irish-based group alre­ady includes the Danish produc­tion and distri­bu­tion company Scan­box and the French sales company Play­time, which were also acqui­red with McDermott’s support. Further acqui­si­ti­ons are plan­ned in France, Italy, Spain and the Bene­lux count­ries. All compa­nies will conti­nue to operate inde­pendently under the Vuelta Group umbrella brand in their respec­tive countries.

Great Moun­tain Part­ners (GMP), based in New Haven, USA, is a private market inves­tor with $10 billion in capi­tal. The GMP team deve­lops sector-speci­fic macro stra­te­gies to iden­tify the poten­tial for long-term growth and returns. GMP focu­ses on compa­nies with balance sheet inten­sive assets and aims to build plat­form compa­nies in part­ner­ship with manage­ment teams. The company curr­ently offers asset manage­ment products in various indus­tries, inclu­ding media & enter­tain­ment, infra­struc­ture, trans­por­ta­tion, energy and finan­cial services.

McDer­mott advi­sed GMP with inter­na­tio­nal teams on the acqui­si­tion of all three foun­ding compa­nies of Vuelta Group. The German team was led by part­ners Dr. Phil­ipp Gren­ze­bach and Dr. Wolf­gang von Frentz.

Advi­sors Great Moun­tain Part­ners / Vuelta Group: McDer­mott Will & Emery, Düsseldorf
David Grimes (New York), Dr. Phil­ipp Gren­ze­bach , Photo ©McDer­mott (both Corporate/M&A), Dr. Wolf­gang von Frentz, Dr. Chris­tian Masch (both TMT, Munich); Asso­cia­tes: Kai Grand­pierre (Colo­gne), Sebas­tian Klein (both Corporate/M&A), Simon Apelojg (IP, Munich)

News

Wetzlar/ Hamburg — As of Novem­ber 1, 2023, the Meis­ter Camera stores in Hamburg, Berlin and Munich will operate under the umbrella of Leica Camera AG. This finally brings the era of inde­pen­dent Leica stores in Germany to an end. With its motto “Ever­y­thing Leica can deli­ver, we have in stock,” Came­ra­Meis­ter has very often been a last resort for Leica photo­graph­ers who have always had to be very pati­ent with Leica’s deli­very deadlines.

Baker McKen­zie advi­sed Leica Camera Deutsch­land GmbH on the acqui­si­tion of three Leica Stores in Hamburg, Berlin and Munich, which were previously mana­ged by Meis­ter Camera. 135 years after the foun­ding of the “Meis­ter Droge­rie”, which later became Meis­ter Camera, and after more than 50 years of coope­ra­tion with Leica, owner Martin Meis­ter has deci­ded to sell his busi­ness to Leica.

Baker McKen­zie advi­sed Leica on corpo­rate and real estate aspects of the tran­sac­tion, inclu­ding the coor­di­na­tion and nego­tia­tion of the acqui­si­tion. “With this acqui­si­tion, our client Leica can now conti­nue its long­stan­ding success story toge­ther with the exis­ting store teams in Hamburg, Berlin and Munich,” commen­ted Eva Kriech­bau­mer, co-lead of the transaction.

Leica is a premium manu­fac­tu­rer of came­ras and sports optics products head­quar­te­red in Wetz­lar, Germany. With this acqui­si­tion, Leica conti­nues to expand its distri­bu­tion network, which now includes eleven Leica Stores in Germany.

Legal advi­sor Leica: Baker McKenzie

Lead: Corporate/M&A: Eva Kriech­bau­mer (Senior Asso­ciate, Munich), Dr. Andreas Lohner (Part­ner, Munich)
Team: Corporate/M&A: Dr. Jon Marcus Meese (Part­ner, Munich)
Real Estate: Dr. Daniel Bork (Part­ner, Düssel­dorf), Moritz Jander (Asso­ciate, Düsseldorf)

Baker McKenzie’s Corporate/M&A prac­tice regu­larly advi­ses on dome­stic and inter­na­tio­nal tran­sac­tions. Most recently, Baker McKen­zie advi­sed Trans­com on its acqui­si­tion of time­frame, Sika AG on its acqui­si­tion of MBCC Group from Lone Star and sale of MBCC’s concrete admix­tures busi­ness to Cinven, Senwes Ltd. in its acqui­si­tion of four agri­cul­tu­ral machi­nery dealers in the new German states, AURELIUS in its acqui­si­tion of LSG Group from Deut­sche Luft­hansa AG, Nokian Tyres plc in its sale of the Russian busi­ness to Tatneft PJSC, First Solar in its sale of the global O&M busi­ness to Nova­Source, Flui­dra in its acqui­si­tion of Mera­nus Group and Magna in its acqui­si­tion of the Veoneer Active Safety business.

News

Munich — Predium is a leading provi­der of ESG manage­ment solu­ti­ons for the real estate and finan­cial sectors, specia­li­zing in the decar­bo­niza­tion of buil­dings, and has now closed a seed finan­cing round of Euro 4.5 million. The round was led by UVC Part­ners, supported by exis­ting inves­tors such as b2venture as well as other inves­tors inclu­ding Mutsch­ler Ventures and well-known busi­ness angels such as Joachim Drees (Drees & Sommer, MAN), Alex­an­der Schwö­rer (PERI), Heike Günd­ling (Bilfin­ger, 21st Real Estate) and Maxi­mi­lian Viess­mann (Viess­mann Group). The foun­ders of Presize, who recently sold their startup to Meta (Face­book), also parti­ci­pa­ted in the funding round.

Predium offers a plat­form that enables property owners to iden­tify ESG risks and plan reno­va­tions in a cost-effec­tive manner. The plat­form supports trans­pa­rent commu­ni­ca­tion of progress through auto­ma­ted report­ing and helps with key decis­i­ons such as buying, reno­vat­ing or selling.

The funds provi­ded will be used for Predium’s further market deve­lo­p­ment and tech­no­lo­gi­cal expan­sion, with the goal of beco­ming the leading ESG manage­ment plat­form for decar­bo­ni­zing buil­dings in Europe.

About UVC Partners

UVC Part­ners is a leading venture capi­tal firm based in Munich and Berlin inves­t­ing in Euro­pean B2B tech start-ups from pre-seed to Series A stage. With appro­xi­m­ately 400 million euros in assets under manage­ment, UVC Part­ners typi­cally invests between 500,000 and 10 million euros initi­ally and up to 30 million euros per company. The port­fo­lio includes indus­try leaders in deep tech, climate tech, hard­ware and soft­ware, and mobi­lity with various tech­no­lo­gies and busi­ness models.

About Green­Gate Partners

Green­Gate Part­ners is a tech­no­logy law firm with parti­cu­lar exper­tise around tran­sac­tions and venture capi­tal. From our offices in Berlin, Hamburg and Munich, expe­ri­en­ced lawy­ers offer their clients first-class advice at eye level. Green­Gate Part­ners repea­tedly provi­des bench­marks in the German market.

Advi­sor to UVC Part­ners: Green­Gate Part­ners Rechts­an­walts­ge­sell­schaft mbH 

Dr. Tobias Schön­haar, LL.M. (Bond) (Partner/Corporate) Marc René Spitz, LL.M. (USC) (Partner/Corporate)
Dr. Leonie Singer, LL.M. (Sydney) (Associate/Corporate) Constan­tin Forst­ner (Associate/Corporate)
Alex­an­der Tribess (Partner/IT & Data Protection)
Paul Harl­off (Associate/IT & Data Protection)
Dr. Jens Ginal (Partner/Employment Law)

News

Berlin / Munich / Paris, Octo­ber 02, 2023 — Kranus Health, the digi­tal health company specia­li­zing in thera­peu­tic concepts in urology, announ­ces an expan­sion of its Series A to a total of $15 million. The finan­cing round is led by new inves­tor Swiss­He­alth Ventures and exis­ting inves­tor Karista. All other exis­ting backers (HTGF, Wenvest and A Round Capi­tal) also parti­ci­pa­ted again in the finan­cing. With the new capi­tal, Kranus Health, foun­ded in 2020, is now one of the best-funded health tech start­ups in Germany. The funds will be used prima­rily for internationalization.

Kranus Health mission is to revo­lu­tio­nize the field of urology, with the help of tech­no­lo­gi­cal inno­va­tions. The main goal is to faci­li­tate access to effec­tive thera­pies for urolo­gi­cal dise­a­ses. The company is ther­e­fore deve­lo­ping digi­tal solu­ti­ons for the treat­ment of a wide range of urolo­gi­cal diseases.

“Deve­lo­ping thera­pies that can be reim­bur­sed by health insu­r­ers will make quality health care acces­si­ble and afforda­ble for all. Thanks to inno­va­tive and inte­gra­tive therapy approa­ches, Kranus Health closes the care gap in urology and offers a cause-orien­ted solu­tion for pati­ents and physi­ci­ans,” says Prof. Dr. Kurt Miller, former Medi­cal Direc­tor of the Clinic for Urology at the Charité in Berlin.

With Kranus Edera, the company has alre­ady laun­ched the first digi­tal health appli­ca­tion (DiGA) as a fully reim­b­ursable “app on prescrip­tion” for the treat­ment of erec­tion problems and their causes. A study at Müns­ter Univer­sity Hospi­tal has confirmed the thera­peu­tic approach. The results of the study indi­cate an impro­ve­ment in erec­tile dysfunc­tion and quality of life. Kranus Edara offers a scien­ti­fi­cally proven option besi­des drugs like Viagra. Another product — Kranus Lutera — will also be reim­b­ursable early next year and fills a major gap in the treat­ment of benign prosta­tic hyper­pla­sia (BPH). Addi­tio­nal urolo­gic thera­pies for men and women are curr­ently being planned.

The fresh money will now be used to expand into other markets outside Germany. Back in June, Kranus Health expan­ded its presence in France by opening its third office in Paris. France is the second largest health­care market in the EU after Germany (esti­ma­ted at 281 billion euros).

“We believe that now is the right time for digi­tal health models to go global. The EU is a pioneer in inte­gra­ted care offe­rings, which are also gaining ground inter­na­tio­nally,” explains Jens Nörters­häu­ser, co-foun­der and co-CEO of Kranus Health.

Swiss­He­alth Ventures is parti­ci­pa­ting as a new inves­tor. With the inde­pen­dent Swiss­He­alth Ventures AG, the Swiss health insurer CSS has crea­ted the neces­sary struc­tures to invest in inno­va­tive start­ups in the health­care sector.

“Our belief in Kranus Health’s approach to inte­gra­ted urolo­gic care aligns perfectly with our mission to drive trans­for­ma­tive change in health­care and improve its acces­si­bi­lity and effec­ti­ve­ness for all,” said Philo­mena Colat­rella, CEO of CSS, on the reason for the partnership.

“We are very proud of the succes­ses of the past year: we were able to convince hundreds of urolo­gists to perma­nently inte­grate us into their treat­ment plans, helping more than thou­sands of pati­ents. In addi­tion, we have alre­ady secu­red a phar­maceu­ti­cal part­ner and are actively explo­ring addi­tio­nal part­ner­ships that will lead to further growth,” Thilo Klein­schmidt, co-foun­der and co-CEO of Kranus Health.

About Kranus Health

Kranus Health is the world’s leading provi­der of inte­gra­ted digi­tal care concepts in urology. Current products include Kranus Edera, a novel treat­ment option for erec­tile dysfunc­tion, and Kranus Lutera, a therapy for prostate enlar­ge­ment. With Kranus Edera, the company has laun­ched the first digi­tal health appli­ca­tion (DiGA) as a fully reim­b­ursable “app on prescrip­tion” for the treat­ment of erec­tion problems and their causes.

One of the largest studies in the urolo­gi­cal sector, conduc­ted at Müns­ter Univer­sity Hospi­tal, has confirmed the effi­cacy of this thera­peu­tic approach and proven that Kranus Edera is a scien­ti­fi­cally proven alter­na­tive to Viagra and simi­lar drugs.

Kranus Health was foun­ded in 2020 under the scien­ti­fic leader­ship of Prof. Dr. Kurt Miller, former Medi­cal Direc­tor of the Depart­ment of Urology at Charité. The co-foun­ders and co-CEOs Jens Nörters­häu­ser & Thilo Klein­schmidt have known each other for many years through their time toge­ther at McKin­sey. Niko­lay Dimo­la­rov (Celo­nis, among others) comple­ments the four-member foun­ding team as Chief Tech­no­logy Offi­cer. The inter­na­tio­nal team at Kranus Health now consists of more than 70 employees working at the company’s sites in Munich, Berlin and Paris. Toge­ther with an expe­ri­en­ced leader­ship team, the company plans to deve­lop addi­tio­nal digi­tal thera­pies and expand its global foot­print to improve urology health­care worldwide.

About High-Tech Gründerfonds

The seed inves­tor High-Tech Grün­der­fonds (HTGF) finan­ces tech­no­logy start-ups with growth poten­tial and has supported more than 700 start-ups since 2005. With the launch of the fourth fund, HTGF has around 1.4 billion euros under manage­ment. The team of expe­ri­en­ced invest­ment mana­gers and start-up experts supports the young compa­nies with know-how, entre­pre­neu­rial spirit and passion. The focus is on high-tech start-ups in the fields of digi­tal tech, indus­trial tech, life scien­ces, chemis­try and rela­ted busi­ness areas. To date, exter­nal inves­tors have inves­ted around EUR 5 billion in the HTGF port­fo­lio in more than 2,000 follow-on finan­cing rounds. In addi­tion, the fund has alre­ady successfully sold shares in more than 170 companies.
Fund inves­tors in the public-private part­ner­ship include the German Fede­ral Minis­try for Econo­mic Affairs and Climate Protec­tion, KfW Capi­tal, and 45 compa­nies from a wide range of industries.

 

News

Frank­furt a. Main — Neos­fer, the early-stage inves­tor of Commerz­bank, parti­ci­pa­tes in the EUR 3 million finan­cing round of the start-up Vamo. Also invol­ved are the newly formed Colo­gne-based VC Realyze Ventures and Caesar Ventures from Munich. Promi­nent angel inves­tors from the German start-up scene, inclu­ding McMak­ler & MAYD foun­der Hanno Heint­zen­berg, Valen­tin Sawad­ski, foun­der of Tado, or Max Schroe­ren, foun­der of Enter, complete the round.

The foun­ding team of Vamo, Laurenz Ohlig, Falk Hantl and Dr. Jan Ossen­brink, follows the vision of advan­cing the heat tran­si­tion in Germany and focu­ses on the trendy topic of heat pumps. The advan­tage of this tech­no­logy is that it is mature and has the poten­tial to decar­bo­nize the buil­ding sector in the near future. What is miss­ing from Vamo’s point of view is speed in the instal­la­tion of the heat pumps.

Vamo is a specia­list company opera­ting throug­hout Germany, specia­li­zing in heat pumps, and has set itself the goal of acce­le­ra­ting the heat tran­si­tion in Germany. In addi­tion to the consis­tent digi­ta­liza­tion of sales, logi­stics and instal­la­tion proces­ses, Vamo is also working on its own soft­ware for the opera­tion of heat pumps. The capi­tal raised in the finan­cing round is to be used to scale the core business.

As a wholly owned subsi­diary and early-stage inves­tor of Commerz­bank, neos­fer bene­fits from in-depth indus­try know-how for the imple­men­ta­tion of inno­va­tive solu­ti­ons. The company was foun­ded in 2013 and employs 35 people.

Advi­sor neos­fer: DLA Piper

Part­ner Simon Vogel and Coun­sel Marcel Nurk (both Corporate/Private Equity, Munich).

About neos­fer

neos­fer GmbH, an early-stage inves­tor and inno­va­tion unit of Commerz­bank Group, inves­ti­ga­tes future tech­no­lo­gies that are rele­vant to busi­ness and society, promo­tes and deve­lops sustainable digi­tal solu­ti­ons, and brings these profi­ta­bly to Commerz­bank and its custo­mers. This is done via the three areas invest, build and connect. Through stra­te­gic venture capi­tal (invest), in-house deve­lo­p­ment of tech­no­lo­gies and busi­ness models (build), and buil­ding ecosys­tems around the sustainable and digi­tal future of society (connect), neos­fer crea­tes access to innovation.

With a port­fo­lio of over 30 digi­tal and sustainable start-ups, the company is always looking to the future and conti­nuously deve­lo­ping. Some successful proto­ty­pes have alre­ady emer­ged from this and are being used in the Commerz­bank Group. These include Project Lissi, a block­chain-based iden­tity network for self-deter­mi­ned iden­ti­ties. Through its own events, such as the monthly tech start-up event series “Between the Towers” and the IMPACT FESTIVAL, neos­fer streng­thens its network in the inno­va­tion, venture and sustaina­bi­lity sectors.
www.neosfer.de

neos­fer is a wholly owned subsi­diary of Commerz­bank AG, head­quar­te­red in Frank­furt am Main.

About DLA Piper

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

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