IK Partners’ Acquisition of Stein HGS Group

Renzenbrink & Partner has advised IK Partners on the deal. CMS advised advised the Hamburg-based family office Lennertz & Co. Shearman & Sterling advised Commerzbank as lender on the financing of the acquisition.

IK Partners (IK Small Cap III Fund) announced the acquisition of STEIN HGS Group from the multi-family office Lennertz & Co. and the founder Bodo Stein. Both Lennertz & Co. as well as Bodo Stein will continue to hold a stake in the group by means of a re-investment.

STEIN HGS is a leading B2B e-commerce specialist for barrier technology, municipality, construction site and facility management supplies. The company was established in 1999 by Bodo Stein and is headquartered in Seevetal near Hamburg. Since then, STEIN HGS has evolved to become the leading online retailer in its market segment and serves a broad range of long-standing private and public sector customers. With the support of Lennertz since 2019, STEIN HGS has managed to successfully grow its offering and increase its presence across its key markets.

Through the new partnership with IK, STEIN HGS aims to further expand its e-commerce offering and increase the product range. The Company will continue to be led by the CEO Stephan Otte and his team.

The Renzenbrink & Partner team consisted of the partners Dr Dennis Schlottmann (Picture), Dr Ulf Renzenbrink (both Corporate/Private Equity), Marc H. Kotyrba (Tax) and the associates Dr Alexander Haunschild, Jonas H. Hamm (both Corporate/Private Equity) and Dr Toufic Schilling (Tax).

The CMS team included Dr Jacob Siebert, Lead Partner, Hamburg, Tobias Kalski, Associate, Hamburg, both Corporate/M&A, Jörg Schrade, Partner, Munich, Tax law; Dr Kerstin Block, Partner, Hamburg; Dr Stefanie Heuer, Associate, Hamburg, both Banking & Finance; Christoff Henrik Soltau, Partner, Hamburg, Competition; Dr Philipp Nonnenmühlen, Senior Associate, Hamburg, Employment.

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

The Milbank team that advised IK on the financial aspects of the transaction was led by partner Barbara Mayer-Trautmann and included associates Dr. J. Melchior Raiser and Alexander Lang, as well as transaction lawyer Silvia Lengauer (all Finance, Munich).

Involved fees earner: Kerstin Block – CMS Hasche Sigle; Stefanie Heuer – CMS Hasche Sigle; Philipp Nonnenmühlen – CMS Hasche Sigle; Jörg Schrade – CMS Hasche Sigle; Jacob Siebert – CMS Hasche Sigle; Christoff Soltau – CMS Hasche Sigle; Alexander Lang – Milbank LLP; Silvia Lengauer – Milbank LLP; Barbara Mayer-Trautmann – Milbank LLP; Melchior Raiser – Milbank LLP; Jonas Hamm – Renzenbrink & Partner; Alexander Haunschild – Renzenbrink & Partner; Marc Holger Kotyrba – Renzenbrink & Partner; Ulf Renzenbrink – Renzenbrink & Partner; Toufic Schilling – Renzenbrink & Partner; Dennis Schlottmann – Renzenbrink & Partner; Andreas Breu – Shearman & Sterling; Winfried Carli – Shearman & Sterling; Daniel Wagner – Shearman & Sterling;

Law Firms: CMS Hasche Sigle; Milbank LLP; Renzenbrink & Partner; Shearman & Sterling;

Clients: Commerzbank AG; IK Investment Partners; Lennertz & Co. GmbH;

Federica Tiefenthaler

Author: Federica Tiefenthaler