Stuttgart – Private equity firm Seafort Advisors is selling the Noventiz Group, a certified waste management company and provider of packaging compliance services. The buyer is Reconomy Ltd., a leading outsourced waste and resource service provider in the UK. The transaction is currently awaiting approval from Germany’s Federal Cartel Office. Completion is expected at the end of November 2020. The parties agreed not to disclose the purchase price.
A CMS team headed by lead partner Dr Tobias Schneider advised Seafort Advisors on all legal aspects of the transaction. The private equity firm is a longstanding CMS client, with CMS also having provided Seafort Advisors with legal support when it invested in Noventiz in 2013.
Seafort Advisors is a private equity firm which is headquartered in Hamburg. It invests in medium-sized and technology-oriented companies in Germany, Austria, Switzerland and other European countries.
Noventiz was established in Cologne in 2007. The certified waste management company and provider of packaging compliance services has over 60 employees and generates annual sales of around EUR 38 million throughout Germany.
Reconomy describes itself as the leading outsourced waste and resource service provider in the UK. Reconomy helps British businesses from SMEs to large blue chip companies to dispose of their waste in a responsible, sustainable and cost-effective manner. The acquisition of the Noventiz Group marks the company’s first step on the road to international expansion.
Dr Tobias Schneider, Lead Partner
Dr Christoph Lächler, Co-Lead Partner
Daniel Mahn, Senior Associate
Isabell Peglow, Associate, all Private Equity
Dr Christian Haellmigk, Partner, Merger Control
Dr Martin Mohr, Counsel, Tax