Gleiss Lutz has provided DBAG Fund VIII, which is advised by Deutsche Beteiligungs AG (“DBAG”), with advisory services in relation to the financing for the acquisition of the holdings in two German companies, congatec Holding AG and Multimon AG.
The congatec Group is a leading supplier of computer modules for industrial applications. DBAG-advised DBAG Fund VIII acquired the majority of the founding shareholders’ shares in a management buyout. DBAG alongside the Fund holds approximately 20% of the shares. In addition, the management of congatec also holds a stake. Various funds managed by Alcentra took care of the project financing by way of a unitranche credit facility, while Deutsche Bank AG provided a super senior working capital facility.
In designing – mostly turnkey – fire protection systems, Multimon AG provides a one-stop shop from planning through installation to commissioning. DBAG-advised DBAG Fund VIII acquired the majority of the shares from the founder of Multimon and other shareholders in a management buyout. DBAG alongside the Fund holds approximately 17% of the shares. In addition, the management of Multimon continues to hold a stake. The financing of the acquisition and ongoing operations is provided by a consortium consisting of Credit Suisse, Deutsche Bank, Landesbank Baden-Württemberg and Allianz Global Investors.
The holdings in Multimon and congatec are the first two transactions of DBAG Fund VIII, its investment period having started on 1 August 2020. As in the case of its predecessor, this Fund intends to invest in mid-sized companies predominantly in German-speaking countries. DBAG Fund VIII has a volume of EUR 1.1 billion, of which the co-investment agreement with DBAG accounts for EUR 255 million.
Gleiss Lutz assists with acquisition financing issues of the DBAG-advised Fund on a regular basis.
The following Gleiss Lutz teams led by Frank Schlobach (partner, Banking and Finance, Frankfurt) provided advisory services for DBAG Fund VIII in relation to each of the two acquisition financing projects. In connection with the acquisition financing of the congatec Group, he was assisted by Dr. Jan-Alexander Lange, Yvonne Gerster and Jana Pinto Escaleira (all Banking and Finance, Frankfurt), the team including lawyers Patrick Reuter and Yvonne Gerster (all Banking and Finance, Frankfurt) in the case of the Multimon transaction.
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