White & Case has advised Nordic Capital on the deal. POELLATH advised the management and founders of ProGlove.
Nordic Capital, a leading European private equity investor, closed an agreement to become the majority owner of the German-based industrial Internet of Things (IoT) company ProGlove.
Nordic Capital’s investment will enable ProGlove to accelerate its future growth plans, further expand its customer base and invest in product development. The financial terms of the transaction will not be disclosed.
Founded in 2014, ProGlove provides integrated hardware and software solutions that are built around wearable barcode scanners with multiple IoT sensors allowing for hands-free data capture to help improve worker well-being, increase productivity and optimize efficiency. With over 250 employees in Munich, Chicago and Belgrade, it serves numerous customers in retail and e-commerce, logistics and warehousing, manufacturing and automotive across more than 30 countries.
The White & Case team which advised on the transaction was led by partners Stefan Koch (Picture) and Tomislav Vrabec (both Frankfurt) and included partners Jan Ole Eichstädt (Frankfurt), Martin Munz (Hamburg), Axel Schulz (Brussels), Lars Petersen (Hamburg) and Bodo Bender (Frankfurt), local partners Marco Stephan and Sebastian Stütze (both Frankfurt) and associates Christian Sperling, Eojin Lie, Viviane Cismak (all Frankfurt), Stefan Papastefanou (Hamburg), Marios Gavriiloglou (Brussels) and Mathilda Xu (Berlin).
The Poellath team included Dr. Benedikt Hohaus (partner, lead, management participation/private equity), Dr. Nico Fischer (partner, tax), Dr. Tim Kaufhold (partner, M&A/ private equity), Dr. Moritz Klein (counsel, M&A/ private equity) and Jan Lukas Jungclaus (associate, management participation/private equity).
Involved fees earner: Nico Fischer – P+P Pöllath + Partners; Benedikt Hohaus – P+P Pöllath + Partners; Jan Lukas Jungclaus – P+P Pöllath + Partners; Tim Kaufhold – P+P Pöllath + Partners; Moritz Klein – P+P Pöllath + Partners; Bodo Bender – White & Case; Viviane Cismak – White & Case; Jan Ole Eichstädt – White & Case; Marios Gavriiloglou – White & Case; Stefan Koch – White & Case; Eojin Lie – White & Case; Martin Munz – White & Case; Lars Petersen – White & Case; Axel Schulz – White & Case; Christian Sperling – White & Case; Marco Stephan – White & Case; Sebastian Stütze – White & Case; Tomislav Vrabec – White & Case; Mathilda Xu – White & Case;