GÖRG advises CVC Capital Partners Fund VII on acquisition of minority stake in DKV MOBILITY SERVICES Group
[Cologne, ] GÖRG Partnerschaft von Rechtsanwälten mbB has advised CVC Capital Partners Fund VII on the acquisition of the minority stake in DKV MOBILITY SERVICES Group under the lead management of partner Dr. Oliver von Rosenberg.
Last Friday CVC Capital Partners Fund VII signed an agreement to acquire a 20% stake in DKV MOBILITY SERVICES Group ("DKV"). The family shareholders and previous sole owners of DKV will remain majority owners of the company with an 80 percent stake after completion of the transaction. The parties have agreed not to disclose the purchase price. The transaction is subject to regulatory approval and is expected in the first quarter of 2019.
Together with the majority shareholders and management, CVC will support the company in accelerating its successful growth strategy. Particular emphasis will be placed on the further digitalisation of the business model and the expansion of DKV's range of services. From now on, DKV will be able to draw on CVC's extensive entrepreneurial expertise and international network.
M&A partner Dr Oliver von Rosenberg has already worked with CVC in his former law firm Freshfields Bruckhaus Deringer on various transactions. These included in particular the acquisition of Douglas from Advent, the sale of the ista group to Charterhouse for EUR 2.4 billion, the acquisition of a 25.01% stake in Evonik Industries for EUR 2.4 billion and the subsequent IPO of Evonik with joint venture partner RAG-Stiftung, the acquisition of Ruhrgas Industries/Elster Group for EUR 1.5 billion and the subsequent sale as part of a public takeover offer. For GÖRG, this is the first large-cap deal outside the restructuring area.
Advisors CVC Capital Partners
GÖRG Partnerschaft von Rechtsanwälten mbB
Dr. Oliver von Rosenberg, LL.M., Partner, Corporate/M&A, Cologne
Dr. Andrea Zimmermann, Associated Partner, Corporate/M&A, Cologne
Ursula Lier, Associate, Corporate/M&A, Cologne
Claus Christopher Schiller, Associate, Corporate/M&A, Cologne
Dr. Kerstin Goeck, Associate, Corporate/M&A, Cologne
Dr. Adalbert Rödding, LL.M., Partner, Tax, Cologne
Dr. Holger Dann, LL.M, Counsel, Tax, Cologne
Dr. Thomas Lange, Partner, Finance, Cologne
Marc Zimmermann, Associate, Finance, Cologne
Dr. Christian Bürger, Partner, Compliance, Cologne
Dr. Florian Schmitz, Partner, IP/IT, Frankfurt
Dr. Frank Wilke, Partner, Labour, Cologne
Dr. Jan Baumann, Associate, Public-private partnerships and Infrastructure, Berlin
Advisors DKV MOBILITY SERVICES Group
About CVC Capital Partners
Founded in 1981, CVC Capital Partners is a leading private equity and investment advisory firm with over 490 employees in 24 offices across Europe, Asia and the United States. To date, CVC has raised more than US$110 billion from some of the world's leading institutional investors for its European and Asian private equity, infrastructure and growth funds. Taken together, CVC currently manages more than US$50 billion in invested assets. CVC Funds currently have interests in approximately 50 companies worldwide employing more than 212,000 people in numerous locations. Taken together, these portfolio companies have a total turnover of over US$74 billion.
About DKV MOBILITY SERVICES Group
The DKV MOBILITY SERVICES Group bundles leading service companies in the field of commercial mobility on the road under one roof. The best-known subsidiary is DKV Euro Service, which has been one of the leading service providers for the logistics and transport industry for over 80 years. DKV offers numerous services for cost optimisation and fleet management on Europe's roads, from cashless on-the-road supply to over 72,000 cross-brand acceptance points and toll invoicing to VAT refunds. The DKV MOBILITY SERVICES Group currently employs around 1000 people throughout Europe. In 2017, these employees generated a turnover of 7.2 billion euros. Currently, 3.1 million DKV CARDs and on-board units are in use with around 170,000 customers.