Paragon Partners’ Acquisition of a Majority Stake in Sovendus Group

Paragon Partners' Acquisition of a Majority Stake in Sovendus Group

Poellath advised the Sovendus founders Oliver Stoll and Michael Kofluk on the deal. Ashurst advised Joh. Berenberg, Gossler & Co. KG. Homburger advised Paragon Partners GmbH with regard to all Swiss legal aspects of the financing transaction.

Paragon Partners has acquired a majority stake in the Sovendus Group. The Sovendus founders Oliver Stoll and Michael Kofluk remain significantly involved and have long-term ties to the company. Bregal Unternehmerkapital sells its stake.

Founded in 2008 in Karlsruhe, today Sovendus is the leading provider of tools for online marketing of checkout pages with around 120 employees in Germany, Austria, Switzerland, the Netherlands, Belgium, France, Spain, Poland, Italy, England and Sweden in Europe with over 1,200 partners. In 2020 the company generated more than five million transactions. The core product Sovendus SALES connects shops via the closed voucher network of Sovendus and thus generates reach, new customers and transactions. Sovendus SELECT enables its partners to generate direct income by marketing special offers on their checkout page. The generation of high-quality newsletter subscribers and marketing in the Sovendus newsletter mailing list complete the marketing portfolio.

Paragon is an owner-managed investment company and has been investing in medium-sized companies in German-speaking countries since it was founded in 2004. The investment portfolio extends across various industries and currently comprises 14 companies. Paragon is based in Munich and currently manages EUR 1.2 billion in equity.

Joh. Berenberg, Gossler & Co. KG financed the acquisition.

The Poellath team consisted of Christian Tönies (picture – lead), Dr. Sebastian Gerlinger, Dr. Nico Fischer and Markus Döllner.

The Ashurst team was led by partner Dr Matthias Weissinger. He was assisted by counsel Dr Philipp Vorbeck, associates Nils Boie-Wegener and Sascha Lotholz as well as transaction lawyer Ariana Fazlic (all Global Loans). Senior associate Christian Sotta provided advice on tax law.

The Homburger team was led by partner Jürg Frick (Financing and Investment Products) and included associates Stefan Bindschedler and Fabrice Eckert (both Financing and Investment Products) as well as partner Stefan Oesterhelt (Tax).

Involved fees earner: Nils Boie-Wegener – Ashurst; Sascha Lotholz – Ashurst; Christian Sotta – Ashurst; Philipp Vorbeck – Ashurst; Matthias Weissinger – Ashurst; Stefan Bindschedler – Homburger; Fabrice Eckert – Homburger; Jürg Frick – Homburger; Stefan Oesterhelt – Homburger; Markus Döllner – P+P Pöllath + Partners; Nico Fischer – P+P Pöllath + Partners; Sebastian Gerlinger – P+P Pöllath + Partners; Christian Tönies – P+P Pöllath + Partners;

Law Firms: Ashurst; Homburger; P+P Pöllath + Partners;

Clients: Joh. Berenberg, Gossler & Co. KG; Michael Kofluk; Oliver Stoll; Paragon Partners;

Author: Federica Tiefenthaler