Carlyle’s Acquisition of Majority Stake in CSS AG

Esche Schümann Commichau advised the majority shareholder Michael Friemel. Shearman & Sterling advised CAPZA as lender on the financing of the acquisition.

Global investment firm Carlyle (NASDAQ: CG) has acquired a majority stake in CSS AG (CSS), a leading German business software provider with a focus on accounting, controlling and human resources (HR) software. Majority shareholder Michael Friemel will retain a large minority stake in CSS and will continue to lead the company as CEO.

Carlyle will work alongside the CSS management team to support the company‘s growth through the further development of its eGECKO solution via synergetic acquisitions and the offering of cloud solutions.

Founded in 1984, CSS is headquartered in Künzell, Germany, and serves and supports its customers from eight additional regional offices. CSS is the only vendor with a fully integrated all-in-one business solution, named eGECKO, for accounting, controlling and HR modules which is specifically targeted at the needs of local and multinational German mid-market customers. It serves approximately 2,500 customers across a wide range of industries.

CAPZA is a pan-European asset manager focused on private investments in small and medium-sized European companies. With more than 90 employees in Paris, Munich, Madrid and Milan, CAPZA Group manages assets of more than €5 billion for international institutional investors.

The Esche team included the partners Dr. Klaus Kamlah, LL.M. (Picture, Lead – M&A/Corporate) Dr. Georg Faerber (M&A/Corporate), Daniel Fengler (Tax), Dr. Christoph Cordes, LL.M. (IP). Dr. Patrizia Chwalisz (Employment), Dr. Philipp Engelhoven (Antitrust) as well the associates Caroline Kaufhold (M&A/Corporate) and Dr. Lukas Eßers (M&A/Corporate).

The Shearman & Sterling team included Winfried M. Carli, Andreas Breu and Daniel Wagner.

Involved fees earner: Patrizia Chwalisz – Esche Schümann Commichau; Christoph Cordes – Esche Schümann Commichau; Philipp Engelhoven – Esche Schümann Commichau; Lukas Eßers – Esche Schümann Commichau; Georg Faerber – Esche Schümann Commichau; Daniel Fengler – Esche Schümann Commichau; Klaus Kamlah – Esche Schümann Commichau; Caroline Kaufhold – Esche Schümann Commichau; Andreas Breu – Shearman & Sterling; Winfried Carli – Shearman & Sterling; Daniel Wagner – Shearman & Sterling;

Law Firms: Esche Schümann Commichau; Shearman & Sterling;

Clients: Capza; Michael Friemel;

Federica Tiefenthaler

Author: Federica Tiefenthaler