Frankfurt am Main, 4 January 2022
SKYE PARTNERS has advised VR Equitypartner GmbH (“VR Equitypartner”) on the acquisition of Heizungsdiscount 24 GmbH (together with TGA GmbH and SHK Rechteverwertung GmbH) from the founders Torsten Seneberg, Christofer Metz and Alexei Siemens (“Sellers”). The Sellers as well as the further Co-Investors Wagner Holding GmbH, Volksbank Mittelhessen eG and BIP Interim SCSp will also get shareholders of the acquired group. Further, Dr. Carsten Voigtländer as the former Vaillant CEO, will also participate as shareholder.
The transaction is still subject to Closing. The parties have agreed not to disclose the terms of the transaction.
HD 24 is one of the largest suppliers in the field of heating and solar technology in Germany. HD 24 offers products and services related to heating at discount prices in the field of e-commerce and sells its products to both companies (B2B) and end consumers (B2C). In doing so, HD 24 offers its customers comprehensive advice ranging from planning, delivery and installation to additional warranty services, which means that every customer can be served efficiently and quickly.
VR Equitypartner is one of the leading equity financiers for medium-sized companies in Germany, Austria and Switzerland. The company supports medium-sized family businesses in finding strategic solutions to complex financing issues. Investment opportunities include growth and expansion financing, corporate succession or shareholder changes. In doing so, VR Equitypartner can look back on its 50 years of experience with regard to both majority and minority shareholdings and mezzanine capital.
Once again, SKYE PARTNERS has advised VR Equitypartner on the buy side as legal advisor. In addition to the usual legal transaction advice (due diligence, SPA, SHA, etc.), the legal advice also included tax advice on the acquisition structure. For the acquisition financing, SKYE PARTNERS again relied on the expertise of former Weil, Gotshal & Manges LLP partner Michael Kohl, who is now with lindenpartners.
Advisors VR Equitypartner
SKYE PARTNERS: Frankfurt am Main: Christoph O. Breithaupt (lead), Sandra Brieske, Lisa Schulte, Lukas Schobert (all Private Equity), Dr. Marius Fritzsche and Dr. Luca Rawe (Pusch Wahlig Workplace Law – Labour Law), Bettina Carr-Allinson (BCA-Law – IP/IT), Dr. Jochen Deister (DMZ Legal – Data Protection), Dr. Frank Bayer (frb-tax – Tax)
King & Wood Mallesons: Tilman Siebert (Antitrust)
lindenpartners: Michael Kohl (Financing)
Advisors BIP Interim SCSp
King & Wood Mallesons: Dr. Michael Roos
Advisors HD24 and the Sellers
act AC Tischendorf Rechtsanwälte Partnerschaft mbB: Dr. Fabian Brocke, Dr. Nina Honstetter
Christoph O. Breithaupt – SKYE PARTNERS
Tel: +49 69 9999938-22
About SKYE PARTNERS:
SKYE PARTNERS (www.skye-partners.de) is active since February 1, 2018 as a transaction law firm, specializing in corporate law, venture capital, private equity and restructuring. With more than 25 years of international experience in corporate transactions, we use state-of-the-art software technology to form and coordinate bespoke teams for our clients’ complex transactions. Thereby, SKYE PARTNERS already developed a growing network of more than 400 legal advisers at 17 locations in the major jurisdictions of Europe, America, Asia and the Middle East.
SKYE PARTNERS uses only those colleagues who are perfectly suited to the respective client, both professionally and personally, and with whom long-standing contacts already exist.
The knowledge of our clients, their business and the industries and markets in which they operate is the basis for generating added value for our clients. We share this knowledge with our global cooperation partners and thus offer modern, integrated and global consulting at the highest level.
Our clients include leading private equity firms, venture capital funds, investment banks and companies across a range of industry sectors, including healthcare, services, consumer products, software & technology, ITC & TMT, SAS, e-commerce and digital entertainment.