Naxicap Partners’ Acquisition of Teufel

Watson Farley & Williams and Fried Frank advised on the deal

French private equity investors Naxicap Partners (“Naxicap”) finalized the acquisition of consumer audio brand Teufel from Hg. It has been agreed not to disclose the purchase price or any further details of the contractual agreements.

Founded Berlin in 1979, Teufel is a well-known direct-to-consumer audio brand primarily active in Germany, Austria and Switzerland. With sales of €100m+ as of June 2017, the company has witnessed continuous and impressive expansion over the past five years.

An affiliate of Natixis Investment Managers, Naxicap currently manages a portfolio of investments valued at close to €3bn. A committed and responsible investor, Naxicap aims to build solid and constructive partnerships with entrepreneurs to mutually ensure the success of their ventures. In this instance, Naxicap will work closely with Teufel’s existing management team to position their brand as a genuine pan-European leader in their sector and ensure the company’s further expansion and growth.

The cross-border WFW team advising Naxicap was led by Frankfurt Corporate Partner Dr Christoph Naumann (Picture), working closely with Frankfurt Banking & Finance Partner Frederik Lorenzen and Hamburg Tax Partner Verena Scheibe. Hamburg Partners Dr Christine Bader (Regulatory and Merger Control), Dr Andreas Wiegreffe (Employment) and Eckrolf Berg (Real Estate) also advised. They were assisted by Senior Associates Sebastian Ens (Corporate, Frankfurt), Dr Tom Hartung (Banking & Finance, Hamburg) and Torge Rademacher (IP/IT, Hamburg), and Associates Nicolas Persch, Dr Robert Schalber (both Corporate, Frankfurt), Dr Nicolaj Faigle (Tax, Hamburg), Fabian Arhelger (Banking & Finance, Frankfurt), Nora Fleischhauer (Employment, Hamburg), Dr Eva-Maria Christiansen and Christine Uwase (both Regulatory and Merger Control, Hamburg). Tax Partner and WFW Paris Office Head Romain Girtanner, assisted by Associate Hélène Ibos, advised on French tax law aspects of the transaction, while London Corporate Partner Christina Howard provided English law advice.

Fried Frank acted as German counsel to funds managed by BlueBay Asset Management – one of Europe’s largest specialist asset managers – as lender, in connection with a €77.5 million term loan facilities agreement for Naxicap’s acquisition of Teufel, with a team incuding Steffen Schellschmidt, Jons F. Lehmann, Paul Tannenbaum and Dr. Philip Rosak.

Involved fees earner: Steffen Schellschmidt – Fried Frank Harris Shriver & Jacobson; Jons Lehmann – Fried Frank Harris Shriver & Jacobson; Paul Tannenbaum – Fried Frank Harris Shriver & Jacobson; Philip Rosak – Fried Frank Harris Shriver & Jacobson; Christoph Naumann – Watson Farley & Williams; Sebastian Ens – Watson Farley & Williams; Nicolas Persch – Watson Farley & Williams; Robert Schalber – Watson Farley & Williams; Christina Howard – Watson Farley & Williams; Frederik Lorenzen – Watson Farley & Williams; Tom Hartung – Watson Farley & Williams; Fabian Arhelger – Watson Farley & Williams; Verena Scheibe – Watson Farley & Williams; Nicolaj Faigle – Watson Farley & Williams; Romain Girtanner – Watson Farley & Williams; Hélène Ibos – Watson Farley & Williams; Andreas Wiegreffe – Watson Farley & Williams; Nora Fleischhauer – Watson Farley & Williams; Eckrolf Berg – Watson Farley & Williams; Christine Bader – Watson Farley & Williams; Eva-Maria Christiansen – Watson Farley & Williams; Christine Uwase – Watson Farley & Williams; Torge Rademacher – Watson Farley & Williams;

Law Firms: Fried Frank Harris Shriver & Jacobson; Watson Farley & Williams;

Clients: Bluebay Asset Management; Naxicap Partners;