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CMS advises zvoove on entering French market by acquiring DirectSkills
Frankfurt/Main, 20.06.2024 – zvoove, a leading European provider of digitalisation solutions for the temporary staffing and cleaning services sector, has acquired DirectSkills, a French provider of workforce management solutions. This strategic acquisition enables zvoove to extend its reach into the French market and strengthens its position in the European personnel services industry. Numerous international companies such as Auchan, Daher and Eiffage rely on the solutions provided by DirectSkills. zvoove, a portfolio company held by funds advised by LEA Partners, has established itself as the market leader in the temporary employment sector in Germany, the Netherlands, Switzerland and Austria. It offers its clients unparalleled SaaS and AI-based digitalisation solutions and services. zvoove’s acquisition of DirectSkills further underlines its goal of offering comprehensive personnel solutions throughout Europe.A German-French CMS team headed by Frankfurt-based partner Markus Herz advised zvoove on all legal aspects of the transaction. CMS Germany Markus Herz, Lead Partner, Corporate/M&A CMS France Benoît Gomel, Partner Vincent Desbenoit, Associate Dylan Allali, Associate, all Corporate/M&APress Con­tact presse@cms-hs. com
CMS advises PINOVA Capital on acquisition of Neuromedex Group
Frankfurt/Main, 19.06.2024 – Funds advised by PINOVA Capital GmbH have acquired a majority stake in the Neuromedex Group, in a transaction that sees Neuromedex’s founder and another director reinvesting in the company. Hamburg-based Neuromedex is a leading supplier of single-use products for neurosurgery and intensive care medicine. Neuromedex products enable neurosurgeons to monitor and regulate intracranial pressure in their patients’ brains with minimal infection risk. PINOVA’s investment will mainly be used to drive the go-to-market of new innovative products and expansion of the international sales network.A CMS team led by partner Markus Herz advised PINOVA on all legal aspects of the transaction. PINOVA regularly relies on the expertise of CMS teams, including during the recent acquisition of Riepe GmbH & Co. KG. CMS Germany Markus Herz, Lead Partner Hanno Brandt, Senior Associate Lorenz Liebsch, Senior Associate Maxine Notstain, Senior Associate, all Corporate/M&A Philippe Heinzke, Partner Thomas Fröhlich, Counsel Lisa Dietrich, Associate Sara Kapur, Associate, all TMC Dr Mario Brungs, Counsel, Labor, Employment & Pensions Birgit Wagner, Legal Manager Julian Buhr, Legal Co­ordin­at­or Con­rad Gräwe, Legal Coordinator Shae Lynn Washington, Legal Co­ordin­at­or  Tag­rid Chahrour, Senior Legal Specialist Anke Clippingdale, Senior Legal Specialist, all Smart OperationsPress Con­tact presse@cms-hs. com
CMS advises vehicles managed by Lazard Asset Management on investment in...
London/New York/Duessel­dorf, 19.06.2024 – Vehicles managed by Lazard Asset Management (LAM) invest in Ageras A/S. The Danish fintech company Ageras A/S offers full suite accounting software to small business owners, including accounting software modules for invoices, expenses, payroll, tax and financial services. An international CMS team led by Partner Dr Sebastian Becker and Senior Associate Ole Weyand provided comprehensive legal advice and support to a London/New York based team of Lazard Asset Management in the course of this minority investment. The advice was provided in close cooperation with the Danish Law Firm Plesner. The parties involved have agreed not to disclose details of the transactions. CMS Germany Dr Sebastian Becker, Lead & Client Relationship Partner Ole Gunnar Weyand, Senior Associate, both PE/M&A Plesner Ad­vokat­part­nersel­skab, Denmark Hans Hedegaard, Partner Janus Jepsen, Partner Simon Mejer, Attorney-at-Law, all PE/M&APress Con­tact presse@cms-hs. com
CMS advises Haufe Group on sale of Haufe-Lexware Real Estate to SaaS provider...
Berlin, 20.06.2024 – Haufe Group SE, a leading B2B provider of integrated business and workplace solutions, has entered into an agreement to sell all the shares in Haufe-Lexware Real Estate AG to Aareon, a market leader in SaaS solutions for the property industry. The aim of the acquisition is to transfer Haufe-Lexware Real Estate AG’s existing ERP software solutions for the property and housing sector to the Aareon Group’s product portfolio. Completion of the deal is expected at the end of June 2024.A CMS team headed by partners Jesko Nobiling and Dr Jörg Zätzsch advised Haufe Group on all legal and tax aspects of the transaction. Haufe Group regularly relies on advice from teams headed by the two CMS partners. Recent examples include the sale of its Umantis talent management business to Swiss software company Abacus Research AG and the sale of tax return start-up Steuerbot GmbH to Taxfix SE. CMS Germany Dr Jörg Zätzsch, Lead Partner, Corporate/M&A Jesko Nobiling, Lead Partner, Tax Dr Karsten Heider, Partner Dr Friedrich von Spee, Counsel Dr Kevin Schmidt, Senior As­so­ci­ate Madeline Göbel, Senior Associate Dr Maximilian Koch, Senior Associate Dr Sven Möller, Associate Nadine Fröhlich, Project Manager, all Corporate/M&A Mariya Ivanova, Senior As­so­ci­ate Al­ex­an­der Selentin, Associate, both Tax Dr Alexandra Otto, Partner Patricia Jares, Principal Counsel, both Labor, Employment & Pensions Dr Ole Jani, Partner Dr Huy Do Chi, Counsel, both IP Dr Rolf Hempel, Partner Martin Cholewa, Counsel, both Antitrust, Competition & Trade Prof. Malte Grützmacher, Partner Julia Bald, Associate, both TMC Dr Mirko Zorn, Principal Counsel, Real Estate & Public Birgit Wagner, Smart OperationsPress Con­tact presse@cms-hs. com
Successful approval by the German Federal Cartel Office: CMS advises savings...
Stuttgart, 19.06.2024 – The Sparkasse Münsterland Ost and Sparkasse Beckum-Wadersloh savings banks are set to merge with effect from 1 August 2024. The merger will create a single joint Sparkasse savings bank serving the city of Münster and the adjacent Warendorf district. This addition of around EUR 14 billion to its balance sheet will make Sparkasse Münsterland Ost one of the 20 largest of the around 350 Sparkasse savings banks in Germany. Merging the two savings banks is aimed at pooling their strengths and better meeting the needs of customers, the supervisory authorities and local government owners in a constantly changing financial environment. The link-up has already been approved by the relevant department of the North Rhine-West­phali­an Ministry of Finance, and merger control approval has been granted by the Federal Cartel Office (BKartA).A CMS team headed by lead partner Dr Harald Kahlenberg advised Sparkasse Münsterland Ost and Sparkasse Beckum-Wadersloh on all merger control aspects of the merger and on obtaining approval from the Federal Cartel Office. Dr Harald Kahlenberg and his team have been advising on savings bank mergers for many years. A number of specific questions arise from a merger control perspective, particularly in relation to the “regional principle”, which restricts the operations of savings banks to a specific area. Consolidation among savings banks has been ongoing for some years now and is likely to accelerate against a backdrop of digital transformation pressures and a significant skills shortage. Further mergers among savings banks are therefore to be expected. CMS Germany Dr Harald Kahlenberg, Lead Partner Dr Anne Gabius, Senior As­so­ci­ate An­gelika Wieczorkowski, Senior Associate, all Antitrust, Competition & TradePress Con­tact presse@cms-hs. com
CMS advises STAR Capital on acquisition of nextbike from Tier Mobility
Frankfurt/Main – The STAR IV Fund, which is advised by STAR Capital Partnership LLP, has acquired a majority stake in nextbike GmbH from Tier Mobility SE. nextbike is a leading developer and provider of innovative urban bike sharing solutions in Europe. STAR Capital is investing in nextbike alongside the management team. An international CMS team headed by lead partner Markus Herz advised STAR Capital on all legal aspects of the transaction. CMS Germany was supported by other CMS offices, including those in Spain, Poland, Sweden and Austria. Founded in 2004 and headquartered in Leipzig, nextbike provides public bike sharing schemes on behalf of transport authorities, cities and public institutions. The global company is currently active in more than 300 cities with a deployed fleet of around 115,000 bicycles. London-based STAR Capital Partnership LLP is a private equity firm investing in companies and assets with enterprise value between EUR 50 million and EUR 1 billion. CMS Germany Markus Herz, Lead Partner Dr Tobias Kilian, Of Counsel Dominik von Zehmen, Counsel Hanno Brandt, Senior Associate Lorenz Liebsch, Senior Associate, all Corporate/M&A Dr Boris Alles, Partner Dela Herr, Senior Associate, both Labor, Employment & Pensions  Dr Markus Pfaff, Partner Hatice Akyel, Counsel Till Komma, Counsel, all Banking & Finance Dr Thomas Hirse, Partner Thomas Fröhlich, Coun­sel Se­basti­an Vautz, Senior Associate Lisa Dietrich, Associate, all IP Philippe Heinzke, Partner Sara Kapur, Associate, both TMC Julian Buhr, Legal Co­ordin­at­or Con­rad Gräwe, Legal Coordinator, both Smart Operations CMS Austria Florian Mayer, Partner Stefan Paulmayer, Partner Rebecca Herlitz, Associate CMS Poland Błażej Zagórski, Partner Piotr Stenko, Counsel Dr Magdalena Zmyslowska, Coun­sel Mag­dalena Piszewska, Senior As­so­ci­ate Krzysztof Sikora, Senior As­so­ci­ate Łukasz Duchiński, As­so­ci­ate Se­basti­an Łyś, As­so­ci­ate Wer­onika Burek CMS Spain Elena Alcázar Cuartero Jose Luis Díez Martín Ale­jandra Martin Benitez Paula Espinosa Montalbán Juan Moreno Alfonso Codes Calatrava CMS Sweden Henrik Aurelius, Counsel Noah Taha, AssociatePress Con­tact presse@cms-hs. com
CMS advises a consortium of Swiss Life and Vesper on the acquisition of...
Duesseldorf – An international and mul­tidiscip­lin­ary CMS team has advised a consortium of Swiss Life Asset Managers, on behalf of their infrastructure funds, and Vesper Next Generation Infrastructure Fund I SCSp on the acquisition of all shares in RAD-x SAS, a leading Pan-European diagnostic imaging platform, from private equity investor Gilde Healthcare. RAD-x is one of the leading diagnostic imaging providers in Germany and Switzerland. Through its continued focus on technology and innovation, RAD-x remains at the forefront of diagnostic imaging as it provides high quality and reliable diagnostic services to its patients. Established in 2011, the Swiss Life Asset Managers Infrastructure Equity platform manages over EUR 10bn in Assets under Management for its clients and partners, and includes 75 infrastructure investments across the energy, communications, transportation, regulated utilities, social infrastructure and renewable energy sectors. Vesper Infrastructure Partners’ Next Generation Infrastructure Fund I is a closed-end alternative investment fund based in Luxembourg managed by Sanne LIS, which pursues infrastructure investment opportunities, including healthy living solutions. CMS Germany Dr Sebastian Becker, Partner Ole Gunnar Weyand, Senior Associate Nina Becker, As­so­ci­ate Car­oline Rolf, Associate Greta Ludewig, Associate, all Private Equity/M&A Dr Martin Friedberg, Partner Dr Hendrik Arendt, Senior Associate, both Tax Dr Angela Emmert, Partner Lennard Lürwer, Counsel Daniel Hennig, Counsel Dr Mario Brungs, Counsel Dr Yannick Schmitter, Associate, all Employment Law Dr Andreas Hofelich, Partner, Pensions Dr André Frischemeier, Partner Thomas Schaak, Senior Associate Dr Dirk Schmidbauer, Associate, all Finance Kai Neuhaus, Partner Dr Björn Herbers, Partner Moritz Pottek, Counsel David Rappenglück, Associate, all Antitrust and Foreign Investment Control Dr Roland Wiring, Partner Philippe Heinzke, Partner Dr Siham Hidar, Senior As­so­ci­ate Se­basti­an Vautz, Senior Associate Noah Rodenkirchen, Associate, all IP Maike Füchtmann, Senior Associate, Real Estate & Public CMS UK Narinder Jugpal, Partner Ben Mc­Par­land Jen­nifer Ross, all Private Equity/M&A Patrick Donegan, Partner Andreas Göller, both Finance CMS France Thomas Hains, Part­ner Anne-Flore Millet Louise Paysant CMS Switzerland Stephan Werlen, Part­ner Ferdin­and BlezingerPress Con­tact presse@cms-hs. com
Joint venture to strengthen engagement in Ukraine: CMS advises GOLDBECK...
Berlin – GOLDBECK SOLAR Investment and the European Bank for Reconstruction and Development (EBRD) have signed an agreement to establish the joint venture company GOLDBECK SOLAR Investment Ukraine on the sidelines of the Ukraine Recovery Conference. Completion of the transaction is subject to the usual regulatory approvals. The aim of the joint venture is to develop, finance, build and operate solar energy projects in Ukraine, thereby supporting Ukraine's energy independence and resilience. GOLDBECK SOLAR Investment Ukraine plans to realize up to 500 MWp of solar projects in the next three to five years. Construction of the first solar park is set to begin in autumn 2024. GOLDBECK SOLAR wants to set an example with the joint venture. The company sees great potential in Ukraine and is confident that it will not only make a sustainable contribution to the country's energy supply, but also encourage other companies to follow this path. GOLDBECK SOLAR and the EBRD have already worked together on previous debt financing transactions in Poland and Kazakhstan. An international CMS team headed by lead partner Dr Igor Stenzel provided comprehensive legal advice to GOLDBECK SOLAR Investment during the negotiation of the agreements to establish the joint venture. GOLDBECK SOLAR Investment GmbH, based in Hirschberg an der Bergstraße in Baden-Wuerttem­berg, is part of the GOLDBECK SOLAR Group, a leading global provider of EPC and O&M services. Founded in 2018, the company specializes in project development, acquisition and sales, structuring, financing and asset management from the owner's perspective. It is currently active in twelve countries and has a project development portfolio of over four GWp and a project portfolio of completed assets of over 440 MWp. CMS Germany Dr Igor Stenzel, Lead Part­ner Al­ex­an­der Gaul, Associate Dr Hanna Heimrath, Research Associate, all Corporate/M&A Dr Jens Moraht, Partner, Banking, Finance & Insurance Dr Rolf Hempel, Partner Elisa Götz, Associate, both Antitrust, Competition & Trade Dr Martin Friedberg, Partner, Tax law CMS Ukraine Vitaliy Radchenko, Partner, Energy Olga Belyakova, Partner Mykola Heletiy, Senior Associate, both Com­pet­i­tion Mari­ana Saienko, Senior Associate, Corporate/M&APress Con­tact presse@cms-hs. com  
CMS advises Metzler Pension Management GmbH on acquisition of Nürnberger...
Frankfurt am Main – Metzler Pension Management GmbH has acquired all the shares in Nürnberger Pensionsfonds AG from Nürnberger Lebens­ver­sicher­ung AG. The transaction is subject to the usual regulatory conditions, including completion of the holder control procedure by the German Federal Financial Supervisory Authority (BaFin). Nürnberger Pensionsfonds AG’s portfolio management, which has to date been conducted within the group, will be outsourced to an external portfolio manager once the transaction has completed.A CMS team headed by partner Dr Hendrik Hirsch advised Metzler Pension Management GmbH, which is part of Metzler Bank, on all legal aspects of the transaction. Metzler Bank is a longstanding CMS client and relies on the team’s expertise on a regular basis. Metzler Pension Management GmbH offers a wide range of services and financing vehicles for occupational pension schemes, with a focus on capital market-based solutions for structuring pension as­sets.NÜRN­BER­GER Pensionsfonds AG (NPF) covers one of the five implementation methods for occupational retirement provision in Germany. NPF’s products provide employers with various options for removing pension obligations from the balance sheet. Assets under NPF management amounted to around EUR 290 million as at the end of 2023. The portfolio comprises more than 700 companies with some 3,600 individual pension accounts. CMS Germany Dr Hendrik Hirsch, Lead Partner Dr Maximilian Stark, Senior Associate Dr Petra Schaffner, Partner, all Corporate/M&A Dr Andreas Hofelich, Partner Dr Mario Brungs, Counsel, both Labor, Employment & Pensions Dr Winfried Schnepp, Partner Dr Thomas Maur, Partner Dr Eva Margareta Wolff, Principal Counsel  Dr Aline Icha-Spratte, Coun­sel Kath­ar­ina Kipar, Senior Associate, all Insurance Dr Annett Kenk, Principal Coun­sel  Stef­fen Preis, Senior Associate, both Tax Theresa Lenger, Senior Associate, TMC Stefan Lehr, Partner Kirsten Baubkus-Gérard, Senior Associate, both Antitrust, Competition & TradePress Con­tact presse@cms-hs. com
Strategic restructuring: CMS advises Hydro Systems shareholder on merger...
Stuttgart – Hydro Systems KG, based in Biberach (Baden-Württem­berg), and Rhinestahl, which is headquartered in Cincinnati, USA, have merged to become R-H Aviation. The two aviation suppliers are aiming to boost their market position, achieve continued growth and create a new global industry champion for ground support equipment (GSE) and tooling. They are also seeking to play a greater role in speeding up decarbonisation. In addition, the merger marks the completion of a succession arrangement for Hydro Systems KG. R-H Aviation’s headquarters is located in Cincinnati, but Hydro Systems will remain in Biberach and the location will be further strengthened. Other details of the transaction were not disclosed. An international CMS team headed by lead partners Dr Maximilian Grub and Dr Kai Wallisch advised the shareholder of Hydro Systems on all legal aspects of the merger. A particular focus was on structuring the transaction from a corporate and tax law viewpoint, the merger control and foreign trade approval procedures, and on financing issues. Hydro Systems has around 650 employees. For some 60 years, it has been developing and producing innovative solutions for the assembly, maintenance and repair of civil and military aircraft. In addition to its main site in Biberach, the company has locations in Germany, China, the UK, France, Singapore, the US and the United Arab Emirates. Hydro’s business areas include GSE, tooling (with a focus on Airbus and Rolls-Royce) and worldwide service. CMS Germany Dr Maximilian Grub, Lead Partner Dr Kai Wallisch, Partner, Lead Partner Dr Christian Zielonka, Principal Counsel Birgit Schlemmer, Senior As­so­ci­ate Mil­itsa Decheva Petrova, Senior Associate Yella Schick, As­so­ci­ate Kath­rin Dengel, Associate, all Corporate/M&A Dr Christian Friedrich Haellmigk, Partner Kai Neuhaus, Partner David Rappenglück, Associate Malena Hansen, Senior Associate, all Antitrust, Competition & Trade Dr Martin Mohr, Partner Dr Olaf Thießen, Principal Counsel Lukas Braun, Senior Associate Tobias Wacker, Associate, all Tax Dr Volker Zerr, Partner Michelle Schickinger, Senior Associate Maike Füchtmann, Senior Associate, all Real Estate & Public Dr Marc Seibold, Partner Carl Werner, Principal Counsel Dr Andreas Grunert, Principal Counsel Julian Lacher, Senior Associate Carla Kaeber, Associate, all Banking, Finance & Insurance CMS Shanghai Michael Munzinger, Counsel Ran Li, Associate Locke Lord, Houston, Texas Edward A. Razim III, Partner Jaremy Chilton, Tax PartnerPress Con­tact presse@cms-hs. com
CMS advises Dutch investor Stibbe Participaties on the sale of Heinkel...
Frankfurt/Main – The Alsatian family-owned group, De Dietrich Process Systems, acquires the Heinkel Group. Seller is the Dutch investor Stibbe Participaties. The Heinkel Group, with its recognized brands HEINKEL, COMBER, BOLZ-SUMMIX and JONGIA, is an international premium provider of solid-liquid separation solutions and drying and mixing systems, mainly for the pharmaceutical, chemical and food industries. Stibbe Participaties acquired the companies in 2005 after a turbulent time caused by a sharp downturn in the pharmaceutical industry and has developed Heinkel Group through add-on acquisitions to an international player in its sector. The combination of solid German management and hands-on support from Stibbe Participaties led to a revival of Heinkel – resulting in a strong market position and a stable recurring income from after sales and service. With the strategic merger of Heinkel Group and De Dietrich, De Dietrich enriches and broadens its portfolio and becomes a global leader in the fields of solid-liquid separation and the drying of active ingredients. An international CMS team headed by lead partner Dr Hendrik Hirsch advised Stibbe Participaties on all legal aspects of the transaction, including legal advice in more than seven jurisdictions (including Germany, the USA, Italy, the Netherlands, China, Singapore and India), legal support on the auction process and negotiation of contractual terms for the best possible integration of the Heinkel Group into the group of the successful bidder as the new owner as well as on tax and IP topics. Stibbe Participaties, based in Laren, Netherlands, is a family-held investor pursuing a buy-and-build strategy. The firm focuses on midsize industrial manufacturing companies with an experienced management and a position in a niche market with potential for market leadership. CMS Germany Dr Hendrik Hirsch, Lead Partner Maxine Notstain, Senior Associate, Co-Lead Markus Herz, Partner Dr Till Alexander von Poser, Associate, all Corporate/M&A Dr Hendrik Arendt, Senior Associate Dr Martin Friedberg, Partner, both Tax Dr Thomas Hirse, Part­ner Se­basti­an Vautz, Senior Associate Lisa Dietrich, Associate, all IP Till Komma, Counsel Lena Schauer, Associate, both Banking, Finance & Insurance Moritz Pottek, Counsel, Antitrust, Competition & Trade Tina Karakurt, Counsel Dr Franz Maurer, Counsel, both Real Estate & Public Dorothée Janzen, Partner, Com­mer­cial Birgit Wagner, Legal Manager, Smart Operations SMOP CMS Netherlands Pieter van Duijven­voorde Car­ola Bruijn Pieter de Kanter CMS Italy Daniela Murer Alessandra Cuni Sara TammarazioPress Con­tact presse@cms-hs. com
Success for GASCADE before Federal Administrative Court with aid of CMS:...
Hamburg – On 25 April 2024, Germany’s Federal Administrative Court dismissed the lawsuits brought by environmental groups Deutsche Umwelthilfe (DUH) and NABU against the planning approval granted by Stralsund Department of Mining on 21 August 2023 for the construction and operation of the first marine section of the Baltic Connector Pipeline (Ostsee An­bindungslei­tung – OAL).A CMS team headed by Dr Christiane Kappes and Dr Neele Christiansen represented the proponent, GASCADE Gastransport GmbH (GASCADE), as summoned party in the proceedings before the Federal Administrative Court. GASCADE operates a natural gas pipeline system in Germany with a total length of around 3,700 kilometres. The team previously advised GASCADE on all aspects of the planning approval procedure for the OAL. At around 50 kilometres long, the OAL offshore pipeline connects the LNG terminal planned by Deutsche ReGas (Floating Storage and Regasification Unit – FSRU) for Mukran on the island of Rügen to the existing long-distance gas grid in Lubmin. This LNG project is set to feed at least ten billion cubic metres of natural gas a year from the OAL into the German gas grid, replacing some of the previous gas imports from Russia and making a significant contribution to energy security. The Federal Administrative Court rejected all the claimants’ objections to the legality of the planning approval. Realising the OAL as quickly as possible serves the key purpose of ensuring a secure and diversified gas supply in Germany. Overriding public interest and the need for public security make the project essential. Fast-tracking its approval is an appropriate way to deal with the continuing gas supply crisis resulting from suspension of Russian gas supplies and destruction of the Nord Stream pipeline. Under the facilitation provisions of the LNG Facilitation Act (LNG-Beschleuni­gungs­ge­setz – LNGG), no environmental impact assessment was therefore required for the OAL. The project is also compatible with current law on the protection of nature and wildlife. No issues were found with the environmental assessment of temporary loss of function for reefs protected by law or the review of the con­struc­tion-re­lated impact on marine mammals and birds on rest stops. The Court held that the planning resolution had also given adequate consideration to the project’s impact on the global climate. The Federal Administrative Court has thus confirmed its previous urgent decisions in which it dismissed several fast-track actions brought by environmental groups DUH and NABU in recent months (BVerwG 7 VR 4.23, 7 VR 6.23, 7 VR 1.24, 7 VR 2.24). The Federal Administrative Court’s case references are 7 A 9.23 and 7 A 11.23. CMS Germany Dr Christiane Kappes, Partner Dr Neele Christiansen, Part­ner Se­basti­an Belz, Counsel Knut Göring-Tisch, Associate Dr Lisa Rueß, Associate, all Real Estate & PublicPress Con­tact presse@cms-hs. com