Silverfleet Capital’s Acquisition of ec4u and BULPROS

Latham & Watkins LLP and Shearman & Sterling advised Silverfleet Capital on the deal. Ashurst advised Ares.

Silverfleet Capital executed the acquisition of ec4u and BULPROS. The company founders and existing management teams of both companies will remain as large shareholders and continue to operate the merged company. The transaction is only subject to regulatory approval.

The two companies, ec4u and BULPROS, have been collaborating since 2018 as partners in the field of digital cloud solutions and have their headquarters in Karlsruhe, Germany and Sofia, Bulgaria, respectively.

Founded in 2000, ec4u is specialized in the digital transformation of clients’ business-critical processes in marketing, sales, service and e-commerce across their entire customer life cycle. The company employs more than 400 experts across its European sites.

BULPROS, founded in 2010, is a digital transformation company whose offerings include enablement of digital solutions, cyber security solutions, cloud migration and managed services, as well as technology services. BULPROS operates on a global scale with over 1,000 employees across 20 offices located in Europe and North America.

Silverfleet Capital, a private equity company, specializes in companies valued between €25m and €300m, and are currently investing across two funds. In total, the company has invested €3.7bn in 128 companies across Northern Europe since 1990.

A Latham & Watkins multi-disciplinary team including Munich partners Burc Hesse (Picture), Sebastian Pauls, and Stefan Süß advised Silverfleet Capital on the transaction, with Frankfurt associates Maximilian Platzer and Sophia Probst, Munich associates Corinna Freudenmacher, Andreas Holzgreve, Julia Schöfer, and Felicitas Mayer-Theobald. Advice was also provided by Munich partner Anne Kleffmann on employment matters.

Shearman & Sterling advised Silverfleet Capital on the financing of the acquisition with partner Winfried M. Carli and associate Andreas Breu.

The Ashurst team was led by partner Anne Grewlich. She was assisted by counsel Gabrielle Metherall, associate Emilie Veyran-Müller and senior transaction lawyer Julia Donnecker (all Global Loans). From the Corporate M&A team, partner Dr Gerrit Clasen and counsel Martina Rothe were involved. Senior associate Christian Sotta provided advice on tax law.

Involved fees earner: Gerrit Clasen – Ashurst; Emilie Veyran-Müller – Ashurst; Anne Grewlich – Ashurst; Gabrielle Metherall – Ashurst; Martina Rothe – Ashurst; Christian Sotta – Ashurst; Corinna Freudenmacher – Latham & Watkins; Burc Hesse – Latham & Watkins; Andreas Holzgreve – Latham & Watkins; Anne Kleffmann – Latham & Watkins; Felicitas Mayer-Theobald – Latham & Watkins; Sebastian Pauls – Latham & Watkins; Maximilian Platzer – Latham & Watkins; Sophia Probst – Latham & Watkins; Julia Schöfer – Latham & Watkins; Stefan Süss – Latham & Watkins; Andreas Breu – Shearman & Sterling; Winfried Carli – Shearman & Sterling;

Law Firms: Ashurst; Latham & Watkins; Shearman & Sterling;

Clients: Ares Management Corporation; Silverfleet Capital;

Author: Federica Tiefenthaler