Heuking Kühn Lüer Wojtek advised the Parcom I fund, advised by DPE Deutsche Private Equity GmbH, and the other shareholders of Availon Holding GmbH, headquartered in the Westphalian city of Rheine, on the sale of Availon group to Vestas.
Availon is a leading European independent service provider for wind turbines with some 400 employees and a total capacity of more than 2.6 GW under service contracts. While Availon's core market is Germany, the company also has offices in Austria, Italy, Portugal, Spain, Poland, and the U.S. For 2015, Availon is expected to report consolidated revenue of EUR 59.8 million, an adjusted EBITDA of EUR 5.2 million and total assets of about EUR 33.3 million. Vestas is a manufacturer and service provider of wind turbines headquartered in Aarhus, Denmark.
DPE Deutsche Private Equity is a Munich-based investor specializing in long-term expansion financing of mid-sized companies in German-speaking markets.
The purchase price agreed between the parties is EUR 88 million on a debt-free/cash-free basis.
Closing of the transaction is subject to approval by the relevant antitrust authorities.
Counsel to the shareholders of Availon Holding GmbH
Heuking Kühn Lüer Wojtek:
Dr. Peter Christian Schmidt (Lead),
Dr. Julius Wedemeyer,
Philipp Kümper, LL.M. (all Corporate/M&A),
Fabian G. Gaffron, all Hamburg
Peter Schäffler (both Tax), Munich
Dr. Frederik Wiemer (Antitrust), Hamburg
Dominik Eickemeier (IP/IT), Cologne