Willkie Leads on CVC Buyout of Bosch Unit
The British private equity firm will manage the entirety of Bosch's packaging unit.
July 16, 2019 at 12:08 AM
2 minute read
Bosch offices. Credits: Bloomberg
Willkie Farr & Gallagher and German law firm Gleiss Lutz Hootz Hirsch are advising on the sale of Bosch's packaging machinery business to European private equity firm CVC Capital Partners.
Last week, both companies agreed to transfer the entire packaging business unit and its 6,100 employees spread across 15 countries, to a fund managed by CVC.
The value of the deal remains confidential but the packaging unit generated about €1.3 billion worth of sales, according to an official statement.
Willkie's team is advising CVC with a team led by Frankfurt-based corporate partner Georg Linde. Others working on the deal include finance partner Dr. Jasmin Dettmar, employment partner Dr. Christian Rolf, and tax partners Dr. Patrick Meiisel and Dr. Bettina Bokeloh, as well as London-based finance partner Sebastian Fitzgerald.
CVC has been one of Freshfields Bruckhaus Deringer's key clients. Nonetheless, Willkie has previously acted for the private equity firm, notably with London partner Sebastian Fitzgerald leading on the company's acquisition of clinical equipment maker Sebia from private equity firms Astorg and Montagu, and on its €1.7 billion financing of the Van Gansewinkel Group – a recycling and waste collection service – alongside global investment firm KKR.
Meanwhile, Gleiss Lutz is advising Bosch on the sale of the unit with a team led by corporate partners Stuttgart-based Jochen Tyrolt and Munich-based Ralf Morshauser. It also includes intellectual property partner Alexander Molle, tax partners Achim Dannecker and Stefan Mayer, antitrust partner Matthias Karl, employment partner Steffen Krieger, public law partner Jacob von Andreae, data protection partner Christian Hamann, and finance partner Frank Schlobach.
Earlier this year, Willkie hired two London private equity partners from Kirkland & Ellis, while Kirkland snatched two of Freshfields' private equity heavyweights.
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