Chaos’ Merger With Enscape

Latham & Watkins represented TA Associates in the transaction, while Schoenherr advised Chaos.

TA Associates, a global growth private equity firm, closed its agreement with LEA Partners, a technology focused private equity firm, to merge Enscape, a leading developer of real-time rendering and design workflow technology for the Architecture, Engineering and Construction (AEC) industries, and Chaos, a world leader in photorealistic rendering technology. Latham is advising TA on all matters related to the acquisition of Enscape, equity arrangements with LEA, and all financing arrangements. The transaction, subject to customary regulatory approvals, will establish a global leader in the 3D visualization and design workflow software sectors, with a focus on the AEC, Visual Effects (VFX) and Product Design verticals.

The newly-combined company, which will retain the Chaos name, aims to develop and strengthen its product portfolio to create a comprehensive end-to-end visualization ecosystem, designed to meet the evolving needs of its customers. TA will join LEA, Enscape’s current majority shareholder, in the newly-combined company alongside the management of Chaos and Enscape, who will retain a significant minority stake.

Latham’s team was led by London corporate partner Paul Dolman (Picture), with associates Laura Kichenside and Ben Russell; and by Munich corporate partner Burc Hesse, with Frankfurt partner Susanne Decker, and associate Corinna Freudenmacher. Advice was provided on finance matters by London partner Charles Armstrong and counsel Tristram Gargent; on intellectual property matters by Frankfurt partner Susan Kempe-Müller; and on antitrust matters by Hamburg counsel Jana Dammann and London associate Mark Wagh. 

The Schoenherr team advising Chaos on the transaction was led by Alexandra Doytchinova (partner) and included Stela Pavlova-Kaneva (attorney at law), Ventsislav Tomov (attorney at law), Ivelina Vassileva (attorney at law), Gergana Roussinova-Ivanova (associate), Kristina Bozhinova (associate), Stanislav Bednár (attorney at law, Prague), Libuše Docekalová (attorney at law, Prague) and Helena Hangler (attorney at law, Prague).

Involved fees earner: Charles Armstrong – Latham & Watkins; Jana Dammann de Chapto – Latham & Watkins; Susanne Decker – Latham & Watkins; Paul Dolman – Latham & Watkins; Corinna Freudenmacher – Latham & Watkins; Tristram Gargent – Latham & Watkins; Burc Hesse – Latham & Watkins; Susan Kempe-Mueller – Latham & Watkins; Laura Kichenside – Latham & Watkins; Benjamin Russell – Latham & Watkins; Mark Wagh – Latham & Watkins; Stanislav Bedná? – Schoenherr; Kristina Bozhinova – Schoenherr; Libuse Docekalova – Schoenherr; Alexandra Doytchinova – Schoenherr; Helena Hangler – Schoenherr; Stela Pavlova – Schoenherr; Gergana Roussinova – Schoenherr; Ventsislav Tomov – Schoenherr; Ivelina Vassileva – Schoenherr;

Law Firms: Latham & Watkins; Schoenherr;

Clients: Chaos; TA Associates;