CMS Reich-Rohrwig Hainz advises private equity investor Finexx on the acquisition of the long-established Austrian company Volpini

The international business law firm CMS has advised the German investment company Finexx on its acquisition of Volpini Verpackungen GmbH Austria. While the Finexx (founded in 2013) was able to increase its fund volume significantly by this acquisition of 100 per cent of the shares in Volpini, the succession of the successful Austrian family business with more than 200 years’ of tradition (since 1811) has now been secured.

Despite the difficult market conditions caused by the COVID pandemic, private equity funds have remained fairly stable. CMS Austria confirms that in 2020 deal activity remained essentially constant and has recently even increased again. The latest private equity deal in the German-speaking region on which CMS advised, is the acquisiation of the Carinthian packaging specialist Volpini by the Stuttgart-based investment company Finexx, which specialises in just such established medium-sized companies.

"In the interest of smooth succession arrangements as well as a positive future corporate development, we are on hand to advise with all our experience and expertise in this area," says Clemens Grossmayer, partner at CMS Vienna. CMS advised Finexx during the contract negotiations as well as on all issues relating to company law, reorganisation, real estate law, and tax law. It should also be mentioned that a buy-side W&I policy was concluded in this transaction, which CMS also played a leading role in negotiating.

The CMS team specialising in private equity transactions was led by partner Clemens Grossmayer and lead associate David Kohl, who were supported in the area of corporate/M&A by former CMS partner Johannes Trenkwalder, senior associate Marie-Christine Lidl, and associate Thomas Liegl. CMS Partner Sibylle Novak and Associate Alexander Hiermann were responsible for tax advice.

After the acquisition, Finexx manages a fund volume of around EUR 65 million. The financial details of the transaction were not disclosed.

Optimally aligned for strategy

Finexx's investment strategy targets small and medium-sized enterprises (SMEs) with a turnover of EUR 10 million or more. Finexx’s typical fields of activity are growth investment and acquisition financing as well as supporting changes to the shareholder structure and succession arrangements. This acquisition was crucial to the expansion of Finexx's own company portfolio. It can particularly expand its presence and competence in the food industry as Volpini plays a leading role in the production of sustainable packaging cups and thermoforming sheets.