Renzenbrink & Partner advised Ergon Capital Partners III S.A. on the transfer of svt Group to a Continuation Fund
2 March 2021
Ergon Capital (“Ergon”) has established Ergon svt Long Term Value Fund SCSp (“Continuation Fund”), a dedicated single-asset fund managed by Ergon to acquire svt group (“svt”) from Ergon Capital Partners III S.A. (“ECP III”) to continue supporting svt’s growth story. Pantheon Group, a leading global private equity investor, is the lead investor in the Continuation Fund.
svt, headquartered in Seevetal near Hamburg, Germany, is the leading European provider of passive fire protection products, installation and restoration management services with more than 900 employees worldwide generating annual revenues of approx.-EUR 200m and an EBITDA in excess of EUR 30m.
Renzenbrink & Partner advised ECP III as lead legal advisor on the SPA and the re-investments as well as on all German law related aspects (legal and tax) in this complex transaction. Kirkland & Ellis, London, and Arendt & Medernach, Luxembourg advised on the structuring and funding of the Continuation Fund. Pantheon was advised by Debevoise & Plimpton, London/ New York. The Renzenbrink team was led by Dr. Ulf Renzenbrink (M&A/ PE) and included Marc Kotyrba (Tax/ PE), Dr. Niels Maier, Dr. Alexander Haunschild (both M&A/ PE) and Marie Eikmeier (Tax/ PE).
Renzenbrink & Partner has advised ECP III on various transactions over the last years and frequently advises svt on add-on acquisitions and corporate matters.