Noerr advises DBAG Expansion Capital Fund on sale of stake in Novopress
Noerr has assisted the DBAG Expansion Capital Fund advised by Deutsche Beteiligungs AG (DBAG) on the sale of its stake in Novopress KG. The purchaser of the fund shares and DBAG’s stake is the largest co-shareholder, ZHG Zangen Holding GmbH, representing the family of the company founder Wilhelm Zangen.
Novopress is a leading manufacturer of electro-mechanical pressing tools used by heating and plumbing installation businesses to connect copper, high-grade steel and plastic pipes. By continuously investing significantly in research as well as tool development, the company has been able since its establishment in 1969 to attain and gradually expand a technologically leading market position.
In 1990, the DBAG-managed entity “Deutsche Beteiligungsgesellschaft mbH Fonds I KG” acquired a minority stake in the company. In 2015, this equity interest led to an investment by DBAG ECF, via which DBAG has since held its stake in Novopress. Headquartered in the central German city of Neuss and with a workforce of around 110, Novopress has grown significantly over the past few years by consistently pursuing its internationalisation strategy. Sales have increased by more than 80% since DBAG ECF’s investment in 2015 alone.
Noerr advised the DBAG Expansion Capital Fund on this transaction with a team led by its Frankfurt-based Corporate partner Thorsten Reinhard. Noerr, especially Munich partner and PE expert Holger H. Ebersberger, regularly advises DBAG and its portfolio companies.
The transaction was overseen at DBAG by Florian Döring, General Counsel.
Advisors to DBAG Expansion Capital Fund: Noerr LLP
Dr Thorsten Reinhard (Corporate/M&A, lead), Dr Fabian Badtke (Antitrust), Dr Sophia Habbe (Litigation), Dr Martin Haisch (Tax, all Frankfurt), Ulrike Sommer (Tax, Düsseldorf); Associates: Dr Thorsten Becker (Corporate/M&A, lead associate), Dr Konrad Gieseler (Litigation), Dr Lorenz Jarass (Antitrust, all Frankfurt)