DGAP-News: Willkie Farr&Gallagher LLP: Willkie Advises SLV Management Team on SLV's Acquisition by Cinven
(firmenpresse) - DGAP-News: Willkie Farr&Gallagher LLP / Key word(s): Private
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Willkie Farr&Gallagher LLP: Willkie Advises SLV Management Team on
SLV's Acquisition by Cinven
05.04.2011 / 11:02
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European buyout firm Cinven today announced that it has reached an
agreement to acquire SLV Group from HgCapital. Willkie Farr&Gallagher LLP
represented SLV's management team in the transaction. Founded in 1979 by
Franko Neumetzler, SLV Group is one of the fastest growing and most
successful providers of lighting products in Europe. Terms of the
transaction were not disclosed.
SLV, headquartered in Ubach-Palenberg near Aachen, Germany, provides
innovative lighting products for indoor and outdoor use. Based on a unique
vertically integrated business model which delivers competitive advantage
in development, sourcing, logistics and distribution, the Company combines
German innovation and European design with cost-efficient production via
selected high-quality suppliers, mostly in Asia, with which SLV has
long-standing relationships. Through its outstanding and well-managed value
chain, SLV is able to offer high-quality products with innovative design at
attractive prices combined with best service and delivery. The superior
value proposition has continuously led to increases in market share both in
Germany and internationally. Today, SLV operates subsidiaries and
asso-ciated companies in Germany, France, Italy, Belgium, Switzerland, Hong
Kong, the US and Russia. As a B2B mail-order business, the Company focuses
on marketing its products through resellers in over 60 countries across the
world and does not sell directly to end users. Under the leadership of
Detlef Harms, Markus Dreihues and Toni Stumpf, SLV has developed into a
leading European player in lighting which continuously outperforms the
market.
Cinven has extensive experience and a wide breadth of expertise in the
European consumer and industrial sector. The firm invests in market
leading, successful companies to support their growth and further
develop-ment.
Cinven partner Bruno Schick said: 'SLV is an innovative company which
operates a successful business model that delivers a superior value
proposition for suppliers, partners and clients. SLV has significant
po-tential and we are looking forward to supporting the proven management
team in developing and growing the business. With our pan-European team and
our office in Hong Kong, we can provide SLV with the addi-tional expertise
and an extended financial framework to further push the
internationalisation of the business.'
Justin von Simson, German Head of HgCapital commented: 'When we acquired
SLV in 2007, we were impressed by the unique 'SLV System', its well-managed
operations and its control over the value chain. It is impressive to see
how strongly the Company navigated through the financial crisis over the
last few years - clear evidence of its robust business model and that it is
a well-run company by highly skilled and committed people. Together with
the SLV management and Franko Neumetzler, SLV's founder and shareholder, we
supported the Company to expand its operations in Ubach-Palenberg and to
strengthen its established international distribution network. We view our
ownership of SLV as a constructive and rewarding time and wish both SLV and
Cinven all the best for the future.'
Detlef Harms, CEO of SLV Group said: 'Together with HgCapital, we have
brought about excellent development over recent years. With Cinven, we have
found the ideal partner for the next stage of our development and are
looking forward to successfully pushing SLV's internationalisation.'
The transaction is subject to approval of antitrust authorities.
The Willkie team was led by Mario Schmidt (Corporate/Private Equity) and
included partners Dr. Patrick Meiisel (Tax), Dr. Christian Rolf
(Employment Law) and associates Jochen Riechwald (Employment Law), Dr.
Maximilian Schwab (Corporate/Private Equity) and Sabine Weber (Tax).
Willkie Farr&Gallagher LLP is an international law firm of over 630
attorneys with offices in New York, Washington, Paris, London, Milan, Rome,
Frankfurt and Brussels. The firm is headquartered in New York City at 787
Seventh Avenue, Tel.: 001 212 728 8000.
Frankfurt, April 5, 2011
End of financial news
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118439 05.04.2011
Datum: 05.04.2011 - 11:02 Uhr
Sprache: Deutsch
News-ID 33711
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