Ashurst has advised Capvis Equity IV LP, a fund advised by Swiss based private equity firm Capvis Equity Partners AG, in relation to the financing of the acquisition of a majority interest in Felss Group, a global technology leader in cold forming of hollow parts.
Capvis acquired the shares from the previous sole shareholder Christine Kienhöfer, who will retain a substantial shareholding in the company.
The parties have agreed not to disclose the financial modalities of the transaction.
Capvis is the leading private equity firm based in Switzerland. It invests in German-speaking Europe and in Northern Italy. With a current fund volume of EUR 720 million, Capvis focuses on majority holdings in leading mid-sized companies. It aims to support management teams in unleashing entrepreneurial potential and achieving new levels of excellence. Since 1990 Capvis has completed 50 transactions with a total volume of more than EUR 5 billion.
Headquartered in the German city of Königsbach-Stein, the Felss Group produces machines for metal processing as well as components for various industries such as the automotive industry. With more than 600 employees in Germany, Switzerland, the USA and China, the group currently generates annual sales of approximately €125 million.
The Ashurst team was led by partner Dr Bernd Egbers 8picture) and associate Isabell Pöller, assisted by counsel Carsten Endres, senior associate Dr Karsten Raupach and paralegal Franziska Nebolieff (all finance). Partner Dr Martin Bünning advised on tax aspects, finance partner Kim Desmarais and associate Samir Ahuja from the New York office on US law aspects.
In Switzerland Ashurst was supported by NKF Niederer Kraft & Frey with partner Dr Ulysses von Salis and in Luxemburg by Bonn & Schmitt with partner Frédéric Lemoine.
Involved fees earner: Frédéric Lemoine – Bonn & Schmitt; Ulysses von Salis – Niederer Kraft & Frey Ltd; Bernd Egbers – Ashurst; Isabell Pöller – Ashurst; Carsten Endres – Ashurst; Karsten Raupach – Ashurst; Kim Desmarais – Ashurst; Samir Ahuja – Ashurst; Martin Bünning – Ashurst;
Clients: Capvis Equity Partners AG;