Friedrich Vorwerk Group’s €414 Million Initial Public Offering

McDermott Will & Emery advised Friedrich Vorwerk Group SE on the deal, while White & Case LLP advised the underwriters, led by Berenberg and Jefferies.

Friedrich Vorwerk Group SE executed its initial public offering and listing on the Regulated Market of the Frankfurt Stock Exchange.

A total of 9.2 million shares were placed at a price of €45 per share. The offering comprised 2.0 million new shares from a capital increase and 7.2 million from the holdings of existing shareholders MBB SE and ALX Beteiligungsgesellschaft mbH, including an over-allotment facility of 1.2 million. The total placement volume thus amounts to €414 million. The first trading day on the Regulated Market of the Frankfurt Stock Exchange is expected to be March 25, 2021.

Friedrich Vorwerk is a leading fully integrated solution provider for critical on-shore energy transportation and transformation infrastructure for the natural gas, electricity and hydrogen markets. Friedrich Vorwerk plans to use the expected primary gross proceeds of €90 million of the offering to significantly expand its business over the next few years, particularly in the electricity and clean hydrogen markets.

The McDermott team advising Friedrich Vorwerk Group SE was led by Frankfurt partners Simon Weiß (Picture) and Joseph W. Marx (both Capital Markets) and included partner Philipp Grenzebach (Corporate – Dusseldorf), senior counsel Edwin C. Laurenson (Capital Markets – San Francisco, New York) as well as associates Isabelle Müller (Corporate – Frankfurt), Elena Platte (Corporate – Frankfurt), Christoph Schäfer (Corporate – Frankfurt) and Tom Schäfer (Corporate – Düsseldorf).

White & Case LLP advised the underwriters, led by Berenberg and Jefferies, with partners Rebecca Emory and Thilo Diehl (both Frankfurt) and included partners Gernot Wagner (Frankfurt), Thomas Burmeister, Tilman Kuhn (both Düsseldorf) and Bodo Bender (Frankfurt), counsel Alexander Born (Frankfurt), local partner Daniel Rogits (Frankfurt) and associates Robert Nachama, Lukas Hackmann (both Frankfurt) and Andreas Schapowalow (Düsseldorf).

Involved fees earner: Philipp Grenzebach – McDermott Will & Emery; Edwin Laurenson – McDermott Will & Emery; Joseph Marx – McDermott Will & Emery; Isabelle Müller – McDermott Will & Emery; Elena Platte – McDermott Will & Emery; Simon Weiß – McDermott Will & Emery; Bodo Bender – White & Case; Alexander Born – White & Case; Thomas Burmeister – White & Case; Thilo Diehl – White & Case; Rebecca Emory – White & Case; Tilman Kuhn – White & Case; Robert Nachama – White & Case; Daniel Rogits – White & Case; Gernot Wagner – White & Case;

Law Firms: McDermott Will & Emery; White & Case;

Clients: Berenberg Bank – Joh Berenberg Gossler & Co; Friedrich Vorwerk Group; Jefferies;

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Federica Tiefenthaler

Author: Federica Tiefenthaler