Renzenbrink & Partner advises LEO II fund on the intended acquisition of Schaeffler’s global chain drive business

11 August 2021

The Munich-based investment fund Lenbach Equity Opportunities II GmbH & Co. KG (“LEO II Fund”), which is being advised exclusively by DUBAG Group, has signed a contract to acquire the global chain drive business from the world-wide active automotive and industrial supplier Schaeffler.

The most recent LEO II fund, which focuses on acquisitions of companies in special situations and complex carve-outs, was advised for the first time by Renzenbrink & Partner on financing and tax issues. The transaction underlines the expertise of DUBAG and LEO II Fund in successfully handling complex carve-outs from listed companies.

As a leading global supplier to the automotive and industrial sectors, the Schaeffler Group has been driving forward groundbreaking inventions and developments in the fields of motion and mobility for over 70 years. Commercial activities in the chain drive systems have been expanding within the Schaeffler Group since 1986 and today, with around 560 employees, the business ranks among the leading global suppliers.

The transaction is expected to close in the first half of 2022 and is subject to regulatory approvals being granted.

The Renzenbrink & Partner team led by Isabell Hitzer (Finance) consisted of Dr Bernd Egbers, Philipp Hogrefe and Zacharias Woltering-Schlenker (all Finance) as well as Marc H. Kotyrba and Dr Toufic Schilling(both Tax).