Noerr advises NordLB and BayernLB on syndicated financing

Noerr has advised NordLB and BayernLB on their syndicated financing for an M&A transaction in the smart repair services market for automobiles. Together, the banks have provided a syndicated loan for the takeover of the Danish pierre.dk Group by the German Intelligent Repair Solutions Group.

Intelligent Repair Solutions Group, a portfolio entity owned by the Swiss investment group Ufenau Capital Partners, is the German market leader for smart repair services with a workforce of over 700. The acquisition target, pierre.dk, is a leading car painting specialist in Denmark, Germany and Sweden.

In addition to the syndicated loan, the acquisition was funded by own funds, loans from the shareholders of Intelligent Repair Solutions Holding GmbH as well as a subordinated loan from Beechbrook.

NordLB and BayernLB relied on a team led by the Frankfurt-based partner Andreas Naujoks who heads Noerr’s financing practice. Noerr’s Banking & Finance practice group consists of more than 20 experts and advises companies, banks, insurers, pension funds and financial services providers comprehensively on their financing arrangements. Next to NordLB and BayernLB, who regularly rely on the expertise of Noerr’s lawyers, clients include Bayerische Versorgungskammer, Deutsche Bank, Deutsche Postbank, Fresenius Medical Care or INEOS.

Advisors to NordLB/BayernLB: Noerr LLP

Andreas Naujoks (lead), Dr. Karsten Fink, Dr. Nadejda Kysel, Associate: Hans-Christian Mick, Dr. Daniel Müller (all Finance, Frankfurt)

Advisors to Ufenau Capital Partners: Bryan Cave (Frankfurt), Dr. Tobias Fenck (lead)