The private equity fund (BC Funds) advised by BC Partners today agreed to sell the Sanitec group to EQT IV, a Scandinavian private equity fund. Headed by Stuttgart partner, Dr Udo Simmat, a team of partners and lawyers from Stuttgart and Berlin advised BC Funds during sale negotiations. After initially only the sale of the Wellness division of the Sanitec group in an auction in September of last year was considered by the Sanitec group, the Scandinavian private equity fund EQT showed interest in assuming the entire group just before Christmas. Within a very short time the parties were able to negotiate the agreement in the last two weeks of January and it was signed today. The transaction is subject to clearance by the competition authorities.
BC Partners assumed a majority holding in Sanitec in 2001. CMS Hasche Sigle provided support with regard to the acquisition of the Sanitec group in a public-to-private transaction and in the later financing by issuing a high yield bond.
The German-Finnish Sanitec group is one of the leading manufacturers of sanitary ceramics, baths and showers and has more than 7,000 employees and 27 production sites. In Germany Sanitec holds the majority of the shares in KERAMAG Keramische Werke AG with its domicile in Ratingen. Keramag is one of the leading German manufacturers of branded sanitary products.
Advisors to BC Fund
CMS Hasche Sigle
Dr Udo Simmat, partner, Stuttgart (corporate, private equity)
Dr Karsten Heider, partner, Stuttgart (corporate)
Dr Jens Moraht, partner, Berlin (financing, high yield bond)
Jacob Siebert, associate, Stuttgart (corporate)
Dr Tobias Schneider, associate, Stuttgart (corporate)
Dr Rainer Herschlein, associate, Stuttgart (due diligence)
Dr Heiko Wiechers, associate, Stuttgart (due diligence)
Roman C. Strutynski, associate, Stuttgart (financing, high yield bond)
Axel Dippmann, associate, Berlin (financing, high yield bond)
Contact CMS Hasche Sigle:
Dr Udo Simmat
Tel.: +49 (0) 711 / 9764-363
E-mail: Udo.Simmat@cms-hs.com
Background
CMS Hasche Sigle is one of the leading German law firms with more than 420 lawyers. It covers the entire area of commercial law and provides legal advice to major German and international companies from a wide spectrum of industry.
CMS Hasche Sigle operates at all the major business centres. It has offices in Berlin, Cologne, Duesseldorf, Frankfurt, Hamburg, Leipzig, Munich, Stuttgart, Chemnitz, Dresden, Brussels, Belgrade, Moscow, Prague and Shanghai.
CMS Hasche Sigle is a partnership of lawyers and tax consultants; for register details / list of partners see www.cms-hs.com .
CMS Hasche Sigle is a member of CMS, an alliance of leading European law firms. With over 1,900 lawyers and tax consultants and around 3,700 support staff we serve our clients at 56 commercial centres in 24 countries in and outside Europe.
Our offices in central and eastern Europe and China provide our clients with a stepping stone into some of the world's most important growth markets.
For further information on CMS Hasche Sigle see www.cms-hs.com and on the CMS alliance see www.cmslegal.com
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