Partners Group’s Acquisition Of Schleich Group

Milbank LLP advised the private equity investor Ardian on the sale of the Schleich Group.

The sale took place as part of an auction process to Partners Group and is subject to antitrust approval. Milbank has previously advised Ardian on several matters, two of which included the acquisition of the d&b audiotechnik Group and sale of its stake in Schustermann & Borenstein.

Ardian is one of the world’s leading independent investment companies with more than 610 employees in 15 locations in Europe, South and North America and Asia. The company manages approximately $90 billion of assets in direct funds, funds of funds, infrastructure, private debt and real estate.

Founded in 1935 in Schwäbisch Gmünd, Germany, the Schleich Group today is one of the largest toy manufacturers in Germany and an internationally leading provider of realistic figures and play sets. The company, in which Ardian previously held a majority stake, sells its products in more than 50 countries worldwide and recorded gross sales of almost €185 million in 2018.

Ardian team was composed by Fabian Wagener, Stefan Kappis. J.P. Morgan advised on M&A matter with Michele Iozzolino. Milbank acted as legal counsel. McKinsey & Company advised on the commercial aspects of the transaction with Dr. Tobias Eichner and Dr. Marcus Jacob.

PricewaterhouseCoopers acted as financial advisor on the transaction with Peter Gröninger. Taxess advised on the tax aspects (Gerald Thomas, Richard Schäfer).

The Milbank team was led by partner Norbert Rieger (Picture) and included Sebastian Heim (both Corporate/M&A, Munich), Thomas Ingenhoven (Finance, Frankfurt), Matthias Schell (Tax, Munich), Alexander Rinne (Antitrust, Munich), Patrick Droese, Alexandra Schäfer (both Corporate/M&A, Munich), Thomas Möller, Achim Rohr (both Finance, Frankfurt), Moritz Philipp (Tax, Munich).

Involved fees earner: Patrick Droese – Milbank; Sebastian Heim – Milbank; Thomas Ingenhoven – Milbank; Thomas Möller – Milbank; Moritz Philipp – Milbank; Norbert Rieger – Milbank; Alexander Rinne – Milbank; Achim Rohr – Milbank; Alexandra Schäfer – Milbank; Matthias Schell – Milbank;

Law Firms: Milbank;

Clients: Ardian;