CMS Hasche Sigle advises ECM on sale of IN tIME Group

Frankfurt/Main – ECM Equity Capital Management (ECM) has sold IN tIME, a provider of logistics services, to Barclays Private Equity through a secondary buyout. A number of conditions need to be met in order for the purchase agreement to become effective, such as approval by the relevant competition authorities. The parties have agreed not to disclose other terms of the agreement, including the purchase price.

A team led by Dr. Martin Bell and Dr. Markus Rasner advised ECM on a broad range of matters relating to the sale.

Based in Hanover, the IN tIME Group is one of the leading providers of time-critical delivery services (door-to-door and express). The logistics company operates throughout Europe and currently has 16 branches in Germany, with subsidiaries in Romania, Sweden and Hungary. In 2010 IN tIME had roughly 400 employees and generated revenues of approximately €100m. Among its most important customers are well-known automobile manufacturers and automotive suppliers, as well as leading logistics companies.

In June 2007, a team also led by Dr. Martin Bell and Dr. Markus Rasner provided support to ECM during the management buyout at In tIME, which resulted in ECM acquiring a majority stake in the company through its private equity fund German Equity Partners III. The company has since continued to go from strength to strength. The first add-on acquisition supported by ECM came in July 2008 when IN tIME merged with its competitor RS Logistik AG. The same team from CMS Hasche Sigle was also on hand to advise IN tIME during the acquisition.

ECM is an independent investment company based in Frankfurt am Main, Germany, which manages the private equity funds German Equity Partners. The total commitments to these funds amount to more than €450 m. The funds primarily invest in well-established, medium-sized companies. Typical acquisition targets are companies with annual revenues of €25m to €500m.

CMS Hasche Sigle Advisors:

Dr. Martin Bell, Private Equity, Lead Partner
Dr. Markus Rasner, Private Equity, (Lead)
Stefanie Zugelder, Private Equity
Dirk Baukholt, Private Equity
Stefan Lehr, Competition Law
Anja Dombrowsky, Employment Law
Dr. Anja Hasselmann-Thiede, Finance