CMS advises 3U HOLDING AG on sale of weclapp SE to Exact

Frankfurt/Main – Listed company 3U HOLDING AG, a management and private equity firm based in Marburg (Hesse), has sold its entire 71% stake in weclapp SE. The buyer is a subsidiary of Dutch company the Exact Group, which is jointly owned by private equity investors KKR and Silver Lake. The underlying equity value of weclapp SE is around EUR 227 million. The sale enables 3U HOLDING AG to realise a substantial gain in value. Completion of the deal is scheduled for this September.
 
A CMS team headed by partner Dr Oliver Wolfgramm and Principal Counsel Dr Dirk Baukholt advised 3U HOLDING AG on all legal and tax aspects of the transaction.

In-house support for the transaction was led by Andreas Odenbreit, management board member and General Counsel at 3U HOLDING AG.

3U HOLDING AG was established in 1997. As an operating management and private equity holding company, it represents the top level of the 3U Group. It acquires, operates and sells companies in three segments – information and telecommunications technology, renewable energy, and sanitary, heating and air conditioning systems. Shares in 3U HOLDING AG (ISIN: DE0005167902) are traded on XETRA, Tradegate and on the regional stock exchanges in Germany.

Frankfurt-based weclapp SE was formed in 2008. The company describes itself as a leading provider of cloud-based ERP and CRM software for small and medium-sized enterprises (SMEs) in Germany, Austria and Switzerland, serving more than 7,000 customers.

Exact was founded in 1984 and has its headquarters in Delft, the Netherlands. The innovative software solutions in the Exact portfolio help more than 9,900 accountants manage the finances of small and mid-size enterprises and provide over 550,000 small businesses with high value-add solutions in the cloud. Exact’s ERP solutions for the mid-market are likewise used by more than 16,000 companies, which can choose between cloud and on-premise implementation.

CMS Germany

Dr Oliver Wolfgramm, Partner, Frankfurt
Dr Dirk Baukholt, Principal Counsel, Frankfurt, both Lead
Dr Navid Anderson, Counsel, Frankfurt, all Corporate/M&A
Dr Richard Mayer-Uellner, Partner, Cologne, Stock Corporation Law
Jörg Schrade, Partner, Munich
Christian Linseisen, Senior Associate, Munich, both Tax
Dr Boris Alles, Partner, Frankfurt
Dela Herr, Associate, Frankfurt, both Employment & Pensions
Stefan Lehr, Partner, Frankfurt, Competition

3U HOLDING AG

Andreas Odenbreit, General Counsel

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