Ashurst advised Munich-based industrial holding company ADCURAM Group AG in connection with the sale of its prefabricated house group to pan-European private equity firm Equistone.
The prefabricated house group with its brands Bien-Zenker, Living Haus and Hanse Haus is number two in the German prefabricated house market, generating combined revenues of more than €300m in 2017. ADCURAM acquired a majority share in listed Bien-Zenker AG in 2013.
Berenberg Bank, advised by Ashurst, provided the acquisition financing. This was followed by a successful squeeze-out procedure and a delisting of Bien-Zenker from the capital market. In 2014, ADCURAM purchased Hanse Haus from Schörghuber group.
Ashurst acted for the seller in relation to a staple financing package, in the context of which potential financiers offered the buyer a financing package for the acquisition of the two prefabricated house manufacturers Bien-Zenker and Hanse Haus.
The Ashurst team was led by partner Dr Bernd Egbers (picture), assisted by counsel Dr Karsten Raupach and transaction manager Anna Zoth (all finance).
Law Firms: Ashurst;
Clients: ADCURAM Group AG;