Stuttgart / Hamburg – Private equity fund Seafort Advisors I is acquiring three companies operating in different sectors from Munich-based private equity fund Auctus. The Seafort fund was set up specifically for this transaction. The synchronised deal involves the Noventiz Group of Cologne, Nuremberg-based DialogFeld Communication Group and Bayreuth's Dieter Braun Group.
CMS Hasche Sigle advised on all legal aspects of the acquisition via a team led by lead partners Dr Udo Simmat and Dr Tobias Schneider. This is one of the first private equity transactions to be structured and implemented in accordance with Germany's new Capital Investment Code (KAGB), which came into force in the summer of 2013.
"Structuring a fund to handle a single, specific transaction is a new model for private equity players and their transactions. It's a groundbreaking approach not really previously seen in the German market," said Dr Schneider. "Going forward, we expect growing interest in transactions of this kind." Dr Simmat added: "The structure is suitable for PE-experienced initiators who have identified one or more acquisition targets and wish to raise the capital required from institutional investors and PE funds on an ad hoc basis."
The fund managed by Seafort was able to sign up institutional investors from the USA, the UK and France to take part in acquiring the three companies. The idea of establishing the Seafort fund and carrying out this transaction came from Patrick Hennings-Huep, who has long experience of private equity with several PE firms. The management teams of the three companies will remain on board as shareholders.
CMS Hasche Sigle linked the three individual transactions in the course of its legal advice. It not only developed the structure of the fund and set it up, but also advised on the investment structure for the different investor groups. In particular, this included negotiating the fund documentation with the investors and aligning it with their needs, especially those of the US investors.
Noventiz develops take-back systems and disposal solutions for the packaging and recycling industries. DialogFeld is a leading owner-managed marketing agency with 500 employees at six locations in the German-speaking world. Braun develops and produces cable systems and lighting technology for the automotive and household appliance industries, as well as for machinery and plant engineering.
CMS Hasche Sigle
Dr Udo Simmat, Private Equity, Lead Partner
Dr Tobias Schneider, Private Equity, Lead Partner
Dr Heiko Wiechers, Management Participation
Johannes Braun, Private Equity
Andreas Lohbeck, Management Participation, Coordination
Dr Daniel Voigt, Asset Management, Funds & Capital Investment Law
Dr Fabian Hetmeier, Asset Management, Funds & Capital Investment Law
Dr Holger Pattberg, Asset Management, Funds & Capital Investment Law
Dr Marc Seibold, Finance
Dr Georg Lauster, Finance
Dr Andreas Grunert, Finance
Kai Neuhaus, Competition
Press Contact
presse@cms-hs.com
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