Heuking Kühn Lüer Wojtek advised private equity firm Odewald & Compagnie on the acquisition of d & b audiotechnik group from holding company Afinum.
d & b audiotechnik is one of the world's leading manufacturers of professional sound systems in the high quality segment. The company was established in 1981 and exclusively manufactures in Germany. d & b audiotechnik's global customers include manufacturing and distribution companies from the event and multimedia industries, theater and opera houses and radio and television productions. In recent years, d & b audiotechnik group grew profitably and well above industry average. At the same time, the company extended its product portfolio and successfully expanded its leading market position with the assistance of an international network of owned and independent distribution and sales partners. In fiscal 2010, d & b audiotechnik generated sales in the mid double-digit million euro range and currently employs a staff of around 200. The transaction is subject to regulatory approval.
Odewald & Compagnie manages four funds with a capital of EUR 1.2 billion. Currently, the portfolio of the company that focuses on growth strategies for small businesses includes nine medium-sized companies with about 15,000 employees. About half of the investors are German institutional investors, including well-known insurance companies and pension funds. A significant proportion is held by asset managers of German families. The funds hold callable funding of around EUR 250 million for new investments in medium-sized companies with revenues between 100 and EUR 400 million and for investments in smaller companies between EUR 20 million and EUR 100 million available.
The acquisition of d & b audiotechnik group has already been the third successful transaction this year in which Heuking Kühn Lüer Wojtek's Cologne-based M & A team has been providing counsel to Odewald. In February 2009, Polytech group, a vendor-independent service for eye operations, was acquired for Odewald KMU, specializing in medium-sized companies. Heuking Kühn Lüer Wojtek also provided counsel to West LB AG and Odewald & Compagnie on the sale of its holding in Westfalia Automotive group to DPE Deutsche Private Equity.
Counsel to Odewald & Compagnie: Heuking Kühn Lüer Wojtek, Cologne