CMS Hasche Sigle advises Stadtwerke Schwäbisch Hall on acquisition of majority stake in Somentec Software AG

Stuttgart – Municipal utility company Stadtwerke Schwäbisch Hall GmbH has acquired a 76% majority stake in Langen-based Somentec Software AG. The three founding shareholders of Somentec retain a 24% equity interest in the firm. The purchase price was not disclosed. The parties have made provision for increasing the majority stake held by Stadtwerke Schwäbisch Hall at a future stage.

A team from CMS Hasche Sigle led by lead partner Dr Maximilian Grub advised Stadtwerke Schwäbisch Hall on all legal aspects of acquiring the shareholding.

Somentec offers IT solutions for the energy and water industries, particularly for the billing and distribution of energy and utilities. By acquiring a majority stake in the software firm, which is headquartered in the federal state of Hesse, Stadtwerke Schwäbisch Hall is seeking a strategic partnership to expand the development and marketing of a dedicated service product for the energy market ("SHERPA"). The software product is currently used for support and billing by more than 60 electricity and gas suppliers with some 500,000 customers. Going forward, the company also intends to offer a wider range of services for integrated energy providers, network operators and heat suppliers.

Stadtwerke Schwäbisch Hall GmbH generates annual sales of some EUR 236 million with around 480 employees at its headquarters in Schwäbisch Hall.

CMS Hasche Sigle

Dr Maximilian Grub, M&A/Corporate, Lead Partner

Dr Axel Funk, IT

Dr Werner Walk, Employment

Dr Sabina Krispenz, M&A/Corporate

Beatrice Shipton, Employment

Dr Michael Kraus, IT (Due Diligence)

Dr Nikolaus Polzer, Employment (Due Diligence)

Dr Matthias Wenzel, M&A/Corporate (Due Diligence)

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