Linklaters takes lead role on $1.7bn Apax buyout of fashion retailer
Linklaters has taken a lead role alongside three European firms on Apax Partners' $1.7bn (£1.1bn) acquisition of German fashion retailer Takko from private equity firm Advent. Linklaters and Germany's Wolf Theiss advised Apax on the deal, which comes three years after the company was bought by Advent from rival buyout house Permira.
January 10, 2011 at 07:30 AM
2 minute read
Linklaters has taken a lead role alongside three European firms on Apax Partners' $1.7bn (£1.1bn) acquisition of German fashion retailer Takko from private equity firm Advent.
Linklaters advised Apax on the deal, which comes three years after the company was bought by Advent from rival buyout house Permira.
Linklaters fielded a team co-led by corporate partners Rainer Traugott and Stephan Morsch, comprising banking, corporate, capital markets, employment, real estate, tax and intellectual property (IP) lawyers.
London-based corporate partner Carlton Evans provided UK law advice, while Pieter Riemer led a team from the magic circle firm's Amsterdam office advising on Dutch law.
Traugott commented: "This has been the largest private equity investment in the German market in 2010 and a great success for the Apax team in a quite competitive auction."
Wolf Theiss, which advised Apax on Austrian and Czech aspects of the due diligence, fielded a team led by corporate partner Clemens Philipp Schindler, who worked with a team of IP, finance, real estate and employment lawyers.
Takko and its current owner Advent were jointly represented by German firm Hengeler Mueller and Benelux firm De Brauw Blackstone Westbroek, whose teams were led by corporate partner Hans-Joerg Ziegenhain and Arne Grimme respectively.
Schindler commented: "We are delighted to have successfully completed a complex transaction within a short period of time which underscores the current positive trend in the M&A area."
Apax recently brought in Goldman Sachs lawyer Simon Cresswell as its first-ever general counsel. The appointment followed an 18-month search for a legal chief.
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